full of sound and fury, Signifying nothing


I received this mail this morning from reader KR about a company I’ve never followed (what with hating the whole uranium space), Uranium Energy Corp (UEC):

Thought you would enjoy this fine mess of a uranium company’s story: UEC.
It appears that the company, for whatever reason, without publicizing the fact, stopped mining, and has been publishing sales numbers based solely upon inventory sales.
The link below details how that was discovered.
So the stock is down 33% today as a result, and shareholder lawsuits are being filed.
I see that the CEO of UEC is also the CEO of Brazil Resources, so if any of your readers/clients are invested or thinking of investing, perhaps a word of caution, which you are so subtly adept at giving, would be in order. 🙂

Thanks for thinking of me and very happy to oblige, KR.
Link to the investigation here and even though I’ve had my own issues with the website (the street sweeper) before this one is well worth your time, some good sluething done. As for Brazil Resources (BRI.v), that one’s been on my avoid list forever. The three magic words are “Pumped By Casey”, it’s been a total BS-peddler for years and will stay that way.

UPDATE: Several of you have forwarded the latest June 2015 edition of the Louis Lobito Little Wolf James International Speculator, published (oh what a surprise) by Casey Research that’s basically a long pump for UEC.

And you want me to be surprised? Scumbags pumping scumbags, period.

UPDATE 2: UEC responds:

CORPUS CHRISTI, TX, June 19, 2015 /PRNewswire/ – Uranium Energy Corp (NYSE MKT: UEC, the “Company” or “UEC”) is responding to recent press releases relying on the unfounded allegations of a third party.
The subject press releases have absolutely no merit and are comprised of unfounded allegations made by a third party whose motives are questionable.  The Company has reviewed the referenced article. The Company’s SEC disclosure is very clear and we will not comment further on the possibility of groundless, frivolous litigation.  UEC is in discussions with counsel with a view to doing whatever is necessary to bring these parties’ motives to light and to seek such legal and equitable relief and any and all damages suffered by the Company and any of its shareholders as a consequence of these unfounded allegations.

full NR here

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