UREX Energy Corp. Receives Strong Upgrade by Respected Research Firm
2006-11-06 14:26 ET - News Release
NEW YORK, NY -- (MARKET WIRE) -- 11/06/06
UREX Energy Corporation (OTCBB: URXE) is pleased to announce a well-respected firm, Bridge IR Group (BIRG), has upgraded their equity rating on URXE. With the demand-supply dynamics responsible for driving uranium prices to record levels and the prospects for successful production at both of the company's premier uranium properties appearing highly favorable, URXE is in position to achieve rapid growth and increased value for shareholders.
Bridge IR is noted for their work with account executives, analysts, institutions, individual investors and the media. To view the entire independent research report, please click on the URL: http://www.bridgeir.com/URXE_Report.pdf
Since nuclear power is back in demand as a relatively cheap, reliable and emissions-free solution to the world's rapidly increasing need for energy, Urex Energy is working to meet these growing needs by developing two prospective uranium projects that it has acquired in Argentina and New Mexico.
More than 50 nuclear plants are planned or under construction in a dozen countries, according to U.S. and international nuclear agencies. This resurgence has driven the price of uranium to record levels, reaching a month-end spot price of $54.00 as of September 25, 2006. Over the last six years prices have risen by $38.40 per pound, from $7.10 in 2000.
The company expects to commence drill testing at the Argentina and New Mexico sites in mid-November as permit approvals are obtained.
About Urex Energy Corporation
Urex Energy Corp. is focused on actively exploring and developing uranium properties in Argentina and New Mexico. Urex owns a 99.8% interest in the Rio Chubut property comprised of 170,000 hectares of land which is adjacent to the Cerro Solo Uranium deposit located in Chubut Province within Patagonia of southern Argentina. The Cerro Solo exploration block is approximately 20 km x 50 km, and borders the Cerro Solo Uranium deposit to both the North and the South.
Urex also owns a 100% interest in the La Jara Mesa Extension uranium property consisting of 137 unpatented mining claims in the Grants Mining District, Cibola County, New Mexico. The La Jara Mesa Extension property lies adjacent to Laramide Resources Ltd.'s La Jara Mesa and Melrich uranium deposits. Between 1950 and 1978 the Grants Mining District produced 270 million pounds of uranium oxide which ranks it as the most prolific uranium district in the United States. |
