(MENAFN- ProactiveInvestors)
(NYSE MKT:UUUU) () has been formally added to the Russell 3000 Index confirming its position as one of the 3000 largest listed companies based on market capitalization in the United States.
The Russell 3000 index part of global index provider FTSE Russell measures the performance of the largest three-thousand companies in the U.S. equity market.
As a member has also been added to the Russell 2000 index which measures the performance of the small-cap segment of the U.S. equity universe. Approximately $5.7 trillion in assets are benchmarked to the Russell’s U.S. indexes which are part of FTSE Russell a leading global index provider.
“We are constantly working to create shareholder value and being added to the Russell 3000 Index provides an excellent opportunity to introduce our company to a broader universe of retail and institutional investors. More importantly we believe nuclear energy is the best technology available to produce baseload electricity with very low life-cycle air and carbon emissions. As a leading producer of uranium in the United States and with the United States being the largest producer of nuclear energy in the World we are very optimistic about the future of ” said ’ president and CEO Stephen P. Antony.
Investment managers and institutional investors rely on Russell indexes and as benchmarks for active investment strategies.
’ membership in the Russell indexes determined primarily by objective market-capitalization rankings and style attributes is expected continue for at least one year.
Following the Company's acquisition of Corporation last week now has two uranium production centers including ISR uranium production in Wyoming and conventional uranium production in Utah.
Indeed it is now the only company with both ISR and conventional uranium production in the U.S. and one of only three publicly-traded companies in the World with current ISR and conventional uranium production the others being and Areva.
operates the only operating conventional uranium mill in the U.S and the largest NI 43-101 uranium resource portfolio in the U.S. among producers. It is the second largest uranium producer in the U.S.; only produces more.
Uranium spot prices have increased by over 30% compared to a year ago. According to the World Nuclear Association 66 new reactors are being built in Europe the Middle East and Asia along with the expected restart of Japan’s reactors are setting up a longer-term supply-demand imbalance with significant increases in uranium prices anticipated.
said that for the long-term the company continues to believe that the fundamentals of the nuclear energy sector are as strong as ever resulting in uranium demand surpassing supply in the future.
The new has become stronger by lowering costs and expanding its uranium sales contract portfolio making the combined entity more competitive on the U.S. and global uranium sales marketplace.
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