Uranium Energy Corp. (UEC)

let it ride it's been steadly increasing

No earnings, no revenue and, maybe, no uranium.
From the April 2009 10Q - “The Company is in the exploration stage of its mineral property development and to date has not yet established any proven mineral reserves on its existing properties.”

The company does own leases to several properties and has done some exploratory drilling that indicates they may have economically viable uranium deposits. They also own a number of prior survey reports showing uranium.

They recently issued a news release about receiving a final draft production permit for their Goliad project in south Texas. Not sure how long it will take until that process is completed and they could actually start production. There were some lawsuits over ground water contamination at that site. Those suits have reportedly been dismissed, but there is always a risk of legal action delaying this or other company projects.

There have got to be substantial expenses ahead of them in getting the mining operation into production. The project descriptions on the company’s website don’t include any timelines on when they expect to start production.

The UEC website project listing shows 41 million pounds of uranium and includes this notice:
"Note: The resources stated are historical in nature. Recent independent verification of the data has not yet been performed. The Company has not completed sufficient exploration to verify the historical resource estimates."

In other words, no telling how much of that 41 million pounds is real or how much is economically recoverable.

UEC pays many of their bills with stock and options, so expect substantial share dilution even if they actually start producing uranium.