Uranium Energy Corp announced on November 5 that its subsidiary UEC US Uranium LLC has signed definitive long term sales agreements with two United States nuclear utilities for a combined 1.1 million pounds of uranium concentrates. Each contract schedules 100,000 pounds a year: deliveries under one run from 2027 through 2032, and under the other from 2028 through 2032. The utilities were not identified, and no aggregate dollar value was disclosed.
The pricing is the point of the deal. Every delivery will be priced at prevailing spot market prices, with no floors, ceilings, discounts or fixed pricing. The agreements therefore secure demand for part of UEC’s future supply while leaving the revenue from each delivery to be set by the uranium price on the day. UEC describes this as a 100 percent unhedged strategy, providing full exposure to uranium market fundamentals.
Recent sales show what that exposure has been worth at current prices. In its fiscal 2026 results, for the year ended July 31, 2026, UEC reported selling 400,000 pounds from inventory at a weighted average realised price of $93.13 a pound, generating $37.3 million in revenue and $16.9 million in gross profit. The company held 1.256 million pounds of uranium inventory at July 31, valued at $109 million at then current market prices. Those figures describe past sales from inventory, not the economics of the new contracts, whose prices are not yet determined.
UEC said it continues discussions with additional United States and international utilities, and pointed to potential government demand, including a projected National Nuclear Security Administration requirement for four million pounds a year of United States origin uranium. Its producing operations are in Texas and Wyoming. The contract structure is a clear bet: if the supply deficit the company cites persists, spot pricing beats any term price it could sign today; if the market softens before 2027, the same structure leaves the deliveries unprotected.