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  "documentTitle": "Uranium Energy Corp (UEC)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-09-18 00:00:00",
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  "notes": "The slide uses a valuation bridge to justify a 65-85% downside, supported by a list of governance and operational concerns.",
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      "text": "We believe that UEC is a “trust me” story from a promotional CEO with documented connections to bad actors, and a resource base that has never been proven to have economically viable uranium that can be produced at scale.",
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      "text": "Factors Favoring Multiple Compression: CEO connections, weak board, inventory sell-down, lack of reserves, high capex, and regulatory/labor challenges.",
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      "text": "downside risk: 65%-85%",
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      "text": "Source: Spruce Point Research",
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      "text": "Spruce Point Estimates 65% – 85% Potential Downside Risk",
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