1. Left has very limited knowledge on the mining industry
2. he reports with an agenda, not merely the truth like he pretends.

http://www.sec.gov/Archives/edgar/data/1334933/000118374010000762/f10q.htm

Until UEC has significant revenues I’m going to side with Left.

“Just because the company uplisted doesn’t mean he is wrong. They have yet to actually dig up any uranium or have any revenues let alone profits.”

So is he wrong or what?

http://uraniumenergy.com/investor_info/news_releases/index.php?&content_id=392

Actually I think the AMEX listing must have come as a shock to Andrew and proves he was wrong in 2007 just as he is now.

In regards to UEC, Andrew’s recent article is intentionally misleading. His piece actually does not make sense and shows he does not understand what he is talking about. The obvious goal of his article is create doubt to manipulate the stock downward. He doesn’t shed light on anything fundamental. Why does the SEC allow this obvious manipulation?

Some things to consider when reading Andrew Left’s analysis of UEC
• UEC went into production in November.

• Chairman Alan Lindsay has been involved with many more companies than mentioned in the article. Except for UEC, Andrew conveniently only mentions the ones that he feels he can skew in an attempt to undermine Mr. Lindsay’s career.

• It appears Amir Adnani has done a marvelous job as the CEO of UEC. What specifically bothers Andrew Left about Mr. Adnani’s professional abilities and Management? It’s clear he does not like the fact that Adnani married Mr. Lindsay’s daughter. So what?

• Why should a Texan uranium company not be listed in Frankfurt? Why does that make it a scam? Does it not make sense to be listed there if you want European investors to have exposure to it. Is he suggesting companies are only worthwhile if they trade in the USA exclusively?

• Andrew suggests that since Haywood Securities does not have an office in the USA it must be substandard. I do not know if Haywood Securities does or does not have an office in the USA, but why would not having a physical office in the USA make it a questionable firm? Haywood Securities has been very prolific in the mining business. It is actually the shenanigans of American financial firms that make investors feel uneasy.

• As of July UEC had 21 million in cash and in November raised 27.5 million at 3.40 when it was trading just above that price. He calls it “dilutive”. “Remarkable” would be more fitting no? Answer these questions for yourself: How many exploration companies go into production with zero debt? Is Andrew qualified to even write about mining?

• CIBC just raised the price target to 7.40 /share from 4.70.

• UEC is the fifth largest holding in the Global X Uranium ETF (URA)

• UEC has recognized institutional shareholders

• UEC has gone from exploration to production in 7 years.

• UEC reports to NI 43-101 recognized industry standards. His comparison to URRE is dumb. UEC is in production (which puts the company in a unique camp) and URRE resources have not been verified. So for the convenience of the article Mr. Left chooses to go out on a limb and just believe what URRE is claiming with no independent audit to support the resource? Does this sounds like he does not know what he is talking about and/or he is intentionally misleading readers and investors?

• Andrew posted a link to an article that to him ends the argument of a potential shortfall in supply in U3o8. Interestingly In this article is the following,

“Even in the high-growth scenario to 2035, less than half of the identified resources described in this edition would be consumed. The challenge remains to develop mines in a timely and environmentally sustainable fashion as uranium demand increases. A strong market will be required for these resources to be developed within the time frame required to meet future uranium demand.” I think the uranium industry is a tad more dynamic than Andrew makes out.

• Got to love this line: “Without Goliad- it is a quick death. With Goliad it can be a slow bleed — you decide.” – Nice use of drama but what does it mean? Is he getting his logic from a famous U2 song?

This article is nothing but attempted manipulation by misleading the public, well timed with a correction after a big rally in almost all uranium names. I would guess there were a few short positions that were caught on the wrong side when UEC, and many other uranium names ran.

-Henry