No tour of Uranium Energy Corp.’s processing plant in Hobson, Tex. is complete until CEO Amir Adnani pries the top off a big black steel drum and invites you to peer inside. There, filled nearly to the brim, is an orange-yellow powder that UEC mined out of the South Texas countryside.

It’s uranium oxide, U3O8, otherwise known as yellowcake. This is the stuff that atomic bombs and nuclear reactor fuel are made from. The 55-gallon drum weighs about 1,000 pounds and fetches about $50,000 at market. But when Adnani looks in, he says, he sees more than just money. He sees America’s future.

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