Uranium Resources Loves Its Executive Changes (URRE)

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Uranium Resources, Inc. (NASDAQ:URRE), the speculative uranium explorer and miner, has made several executive change decsions today.  The stock has been up most of the day and shares are still up more than 8%, although the actual press release for the executive switches didn’t come until this afternoon.

The company has named Dave Clark as CEO, and he is currently president.  Paul Willmott will remain as executive chairman.  The COO role has been assumed by Richard Van Horn, who has been UR’s Senior VP of Operation and has been at the company since 1997.

The company has a stated goal of becoming a 10 million pound uranium producer by 2014.  It only had $8.58 million in 2006 revenues, so if Uranium prices stay anywhere close to current nuclear levels it is saying it wants to be far larger than today.  Revenues last quarter were $4.5 million.  The current market cap for the stock is now over $500 million and shares are within a few percent of recent highs. 

Jon C. Ogg
August 8, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.