US-based Uranium Energy has produced 48,000lbs of uranium for the second quarter of 2013 over the production of 29,000lbs in the previous quarter.

The increase is driven by early commencement of production at production area-3 starting December 2012.

Uranium Energy stated, "This increase in production has continued into fiscal Q3 with 28,000lbs of U3O8 produced in February 2013."

The Company has sold 50,000lbs of uranium for gross proceeds of $2.1m during the quarter.

For the six months ended 31 January 2013, the company reported production of 77,000lbs of uranium grade from production areas-1, 2 and 3 of Palangana mine.

The Hobson processing facility processed 83,000lbs of mine over the same period.

By the end of January 2013, the company had 36,000lbs of uranium inventory available for sale that had a market value of nearly $1.6m.

Uranium Energy has also stated that it is set to commence operations at its Goliad ISR project after it secured necessary approvals for production.