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ENG GER

February 2020

Former U.S. Energy Secretary Warns of Energy Crisis

Policy Makers Forced to Recognize Importance of Diversified Energy Sources

An interview of Spencer Abraham, Former U.S. Secretary of Energy, UEC Chairman, with Rick Rule, President & CEO of Sprott U.S. Holdings, on the importance of a diversified national energy policy, geopolitical risks, U.S. overdependence on imports with topics including carbon emissions, oil & gas, coal, nuclear energy, and uranium.

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Hauling Resins

Hauling Resins

This photo depicts one of the Company’s two Department of Transportation approved, specially designed resin-hauling trailers at the Hobson processing plant. These trailers are used to haul uranium loaded resins from the producing Palangana satellite site and additional satellite sites as they come on-line to Hobson for processing into yellowcake. Hobson received its first load of resins on November 28, 2010. Each trailer hauls approximately 500 cubic feet of resin. The resin is saturated with uranium to a density of approximately 5 – 6 pounds of U3O8 per cubic foot of resin. Each trailer holds about 3,000 lbs. of U3O8, or about $185,000 at the current market price of $62.50/lb.