The underwriting syndicate for the offering was led by GMP Securities L.P. and included Canaccord Financial Ltd., BMO Capital Markets, CIBC World Markets Inc., RBC Capital Markets and Paradigm Capital Inc. The Debentures will commence trading on the Toronto Stock Exchange today under the symbol UUU.DB.A.

For complete press release, click here.

The programme is to be supported by Johannesburg-listed Simmer & Jack, which holds 37.2% of First Uranium, and which could increase its stake to as much as 48% if conversion is eventually chosen.

It is also clear from Friday’s announcements that First Uranium CEO Gordon Miller will be stepping down. In mid-December, Simmers announced, along with a new proposed board, that its then-CEO and then-chairman, Gordon Miller and Nigel Brunette, would be stepping down. Brunette’s role as chairman at First Uranium is apparently on countdown.

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Yes, you read that correctly: one of the industry’s weekly spot prices has actually stopped falling and recorded a small gain this past week.

On TradeTech’s assessment, February saw a total of over 2.8 million pounds U3O8 equivalent changing ownership through 15 recorded transactions.

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U.S. Energy Secretary Steven Chu announced that Pittsburgh’s Westinghouse Electric Co. and San Diego’s General Atomics were selected for a $40 million effort to design and plan work for the next generation of U.S. nuclear power plants.

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The Roca Honda property is located in the eastern part of the Grants Mineral Belt in New Mexico. This project, which is held by Strathmore and Sumitomo Corporation under their jointly owned subsidiary, Roca Honda Resources LLC (RHR), represents one of the largest proposed uranium mines in the United States in the last thirty years. In October 2009, the Roca Honda Mine Permit Application was submitted to state and federal regulatory authorities. In November, the Permit Application was deemed “administratively complete” (see news releases dated October 27, 2009 and December 2, 2009). Preparation of the BFS will coincide with the regulatory review process.

For complete press release, click here.

The Company’s ongoing analysis of current and past geophysical data had led to the testing of an anomaly approximately 400 meters to the south of the existing mineralized area within the Southeast Zone. The anomaly was identified through an independent geophysicist’s interpretation of the Ontario Geological Survey’s (OGS) total magnetic intensity data from its Kapuskasing airborne geophysical survey and from the earlier ground and airborne geophysical work done on the property.

For complete press release, click here.

Continued focus on the Company’s cash preservation program is a priority. URI’s Board of Directors recently approved a revised strategic plan which emphasizes the cash preservation program and addresses the Company’s future cash needs, as well as its strategic options for unlocking potential value for shareholders by utilizing its current assets and by evaluating possible regional and structural synergies.

President and CEO of Uranium Resources, Don Ewigleben says:

“It is vital that URI is positioned in Texas to take advantage of any sustained rebound in the price of uranium by returning to production as quickly as possible, and we have developed a concrete action plan to ensure a smooth return to production when the time comes.”

For complete press release, click here.

This level, last seen from Canada in 2005, represents about 22% of world production and places Canada second to Kazakhstan’s 16,400 tU₃O₈ production, but ahead of Australia’s 9413 tonnes.

 At McArthur River, a change in the licence allowed greater output, and 8654 tU₃O₈ was produced. At McClean Lake production recovered to 1637 tonnes, and at Rabbit Lake 1706 tonnes was produced.

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Contrary to our report last week, TradeTech too had made the decision to lower its weekly spot price indicator to US$40.50/lb, similar to UXC’s price, by lowering by an extra US25c after it had lowered to US$40.75/lb on Friday February 26.

Anyway, now we have settled this matter, the price gap we reported last week has opened up this week instead. TradeTech left its weekly spot price unchanged at US$40.50/lb while UxC has actually raised its price by US25c to US$40.75/lb.

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For TradeTech prices, click here.

For Ux Consulting Prices, click here.

Interest is payable on debentures issued under the terms of subscription agreements dated September 3, 2009, pursuant to which NQ issued to each of the Fonds de solidarité FTQ and Sidex a convertible $125,000 debenture on which interest is payable semi-annually, either in cash or in common shares of the Company’s capital stock.

For complete press release, click here.