Casey subscribers are very familiar with Amir Adnani, who earned a spot in our 10-Bagger Club in early 2009. Amir had gotten in touch way back in 2005 about an idea for a uranium company. He had already tasted success in strategic marketing and financial communications, and was ready to dive into the resource sector. By early 2008, the wheels were very much in motion, and at a Casey conference, we noticed that Amir and his Uranium Energy were making quite a buzz. Six months later, we advised subscribers of the Casey Energy Report to buy UEC at under US$0.25. Within ten months, it had reached US$3.75 per share. That success is what landed Amir a spot in Casey's 10-Bagger Club, which is exclusive to people who have rewarded subscribers with gains of 1,000% or more.
UEC had risen as high as $7 in recent months, until the Fukushima Daiichi nuclear crisis in Japan catalyzed a major drop in uranium prices and equities. The share price drop doesn't reflect Amir's recent triumph: Amir and his team at UEC brought the Palangana in-situ recovery (ISR) uranium project in South Texas back into production. Last operational in the 1970s, Palangana is the first ISR uranium mine to come online in the United States in five years.
Even after achieving this historic milestone, Amir focuses on the next steps: Palangana is one of UEC's four projects in South Texas, and the company is working on expanding resources and production across the reemerging South Texas Uranium Belt. Amir expects to bring the nearby Goliad ISR project online next year. Both mines will feed the Hobson processing plant.
And despite working at a feverish pace with UEC, Amir has also found time for a new venture. Brazil Resources (V.BRI) listed on the Toronto Venture exchange in mid-May, after raising $9 million privately. Tagged as the new Brazilian gold explorer in the emerging Gurupi Belt, BRI is focused on two prospective areas – gold and Brazil – and holds Amir in good company, as the company's technical team has been involved in delineating multiple gold and base metal discoveries in Brazil.
Bringing a uranium mine into production in a developed country is a feat not to be understated. Amir Adnani has done just that, and rewarded his loyal shareholders very well along the way. With UEC still growing nicely and BRI just getting started, we expect to keep seeing great things from Amir.