Boston, MA 05/22/2013 (wallstreetpr) – The share prices of Uranium Resources Inc. (NASDAQ:URRE) increased by 9.88 percent to close at $2.78 for the last trading session. The shares of the company traded in the range of $2.45 to $2.83 per share during the day. Uranium Resources Inc. (NASDAQ:URRE) is involved in the businesses of acquisition, exploration, mining and development of uranium properties. The exploration and mining at the properties are carried out either through in situ recovery or solution mining process.
Consolidation Plans
The uranium exploration company recently announced its plan to focus all its operations at the existing offices in Colorado and thereby reduce the overhead expenditures by closing offices at Albequerque, Crownpoint and Grants, New Mexico. Uranium Resources Inc. (NASDAQ:URRE) would thereby remain committed to the development of operations at Texas and New Mexico. The development of exploration activities at the uranium properties at Texas and New Mexico would further spur creation of jobs and economic growth in these locales.
Uranium Resources Inc. (NASDAQ:URRE) would thereby concentrate all its technical operations at the offices in Colorado and further plans to recruit employees in the locales of Texas and New Mexico as the exploration activities develop. The consolidation activities which are planned to be completed by the end of June would enable Uranium Resources Inc. (NASDAQ:URRE) to save up to $1.5 million in the overhead expenditures on an annualized basis. Uranium Resources Inc. (NASDAQ:URRE) holds a market capitalization of $44.78 million and the average trading volume of the company is around 85,676 shares per day.
