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<SEC-DOCUMENT>0001157523-10-002298.txt : 20100426
<SEC-HEADER>0001157523-10-002298.hdr.sgml : 20100426
<ACCEPTANCE-DATETIME>20100426162330
ACCESSION NUMBER:		0001157523-10-002298
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100426
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100426
DATE AS OF CHANGE:		20100426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			URANIUM RESOURCES INC /DE/
		CENTRAL INDEX KEY:			0000839470
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				752212772
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33404
		FILM NUMBER:		10770603

	BUSINESS ADDRESS:	
		STREET 1:		12750 MERIT DRIVE
		STREET 2:		SUITE 720
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75251
		BUSINESS PHONE:		9723877777

	MAIL ADDRESS:	
		STREET 1:		12750 MERIT DRIVE
		STREET 2:		SUITE 720
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75251
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a6264097.txt
<DESCRIPTION>URANIUM RESOURCES, INC. 8-K
<TEXT>
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                 _____________

                                    FORM 8-K

                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                        Securities Exchange Act of 1934

       Date of Report (Date of Earliest Event Reported):  April 26, 2010


                            URANIUM RESOURCES, INC.
                            -----------------------
             (Exact name of registrant as specified in its charter)


   Delaware                    0-17171                           75-2212772
- ---------------            ----------------                  -------------------
(State or other            (Commission File                   (I.R.S. Employer
jurisdiction of                Number)                       Identification No.)
incorporation)

    405 State Highway 121 Bypass, Building A, Suite 110                75067
                    Lewisville, TX
          (Address of principal executive offices)                    Zip Code


                                 (972) 219-3330
                                 --------------
              (Registrantt's telephone number, including area code)



         (Former name of former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))

<PAGE>

Item 8.01. Other Events

     On  April  26, 2010, the Registrant mailed its letter to shareholders dated
April  21,  2010, along with the its Annual Report on Form 10-K for 2009, to all
shareholders  of  record  as  of  April  23,  2010. In the letter the Registrant
disclosed  that  it  had  $3.8  million  in  cash  at  the  end  of  March 2010.
Furthermore,  the  Registrant disclosed it had targeted a $6 million annual burn
rate,  or  $500,000  per  month, for its core business operations as part of the
cost reduction and cash preservation program which was put in place in late-2008
and  continued in 2009. During the first quarter of 2010 the Registrant incurred
certain  non-routine  expenditures  for  legal  matters,  trailing  operations
activities  and South Texas project-related costs that kept it from reaching the
target.  The  Registrant  is striving to meet this rate in the second quarter of
2010;  however, in order to be in a solid position for the return of the uranium
market  and  to  address certain legal issues, the target may be attainable, but
not  sustainable  throughout  the  year.  That means the Registrant will need to
enhance  its  cash  position  in  the  near  future.

     The  Registrant  also  disclosed  in the letter to shareholders that, if it
doesn't  regain  compliance  with  the  minimum  bid price rule by July 7, 2010,
NASDAQ  will provide the Company with written notification that its common stock
is subject to delisting from the NASDAQ Global Market. At that time, the Company
will  seek  an  additional grace period of another 180 calendar days by applying
for  listing  on  the  NASDAQ  Capital  Market  if  it meets all initial listing
requirements,  with  the  exception of the bid price. The Registrant believes it
currently  meets such requirements, but cannot be assured of the outcome of such
a  request.  The Registrant previously disclosed that it had received in January
2010 a letter from the NASDAQ Stock Market regarding the delisting of its shares
for  failure  to  meet  the exchange's requirements for continued listing on the
Global  Market  because  the  closing  bid price for its shares had fallen below
$1.00  for  thirty  consecutive  trading  days.


Item 9.01. Financial Statements and Exhibits

     Exhibit 99.1 Letter to Shareholders dated April 21, 2010


<PAGE>

                                   SIGNATURES


     Pursuant  to  the  requirements of the Securities Exchange Act of 1934, the
Registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  thereunto  duly  authorized.


                              URANIUM RESOURCES, INC.




Date: April 26, 2010                  /s/  Thomas  H.  Ehrlich
                                      ------------------------
                                      Thomas H. Ehrlich
                                      Vice President and Chief Financial Officer


<PAGE>

EXHIBIT INDEX

Exhibit Number        Description
- --------------        -----------
Exhibit 99.1          Letter to Shareholders dated April 21, 2010
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a6264097ex991.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
                                                                    Exhibit 99.1

Uranium Resources, Inc.
2010 Letter to Shareholders

Dear Fellow Shareholders:

Of the many events of 2009, one of the most significant was a renewed evaluation
of the Company's resources and capabilities and the development of a new
strategic plan. Following the resignation of David Clark in September 2009, the
Company appointed Don Ewigleben as President and Chief Executive Officer. Don,
who had previously served as President and CEO of AngloGold Ashanti North
America, and Executive Officer for Law, Safety, Health & Environment for
AngloGold Ashanti Ltd. in South Africa, the third largest producer of gold in
the world and one of the largest uranium producers in Africa, joined Uranium
Resources in full recognition of not only the challenges facing the Company, but
also the Company's enormous potential.

Since joining Uranium Resources, Don has frequently been asked why he would
leave the gold industry when gold prices were at an all time high to come to the
uranium industry and specifically, this Company. Well, Don came to Uranium
Resources for the same reasons that we believe you are invested in the Company.

   o Our 100 million pounds of in-place mineralized uranium material in New
     Mexico is among the largest uranium holdings in the United States. We also
     have the only NRC license in the state, which allows us to produce up to 1
     million pounds of uranium, and 183,000 acres of uranium mineral holdings
     with strong exploration potential.

   o Our management team has proven experience with both in-situ recovery (ISR)
     and conventional underground mining projects.

   o Our uniqueness as a Company is our actual mining production history of over
     20 years. This means that we are not just a junior company talking about
     the potential for development, but a proven entity which has explored,
     developed, built, operated and reclaimed mining facilities.

So, although we face some challenges, Don saw the significant intrinsic value
that exists in our Company and the undervalued nature of the Company in the
market place.

Board of Directors' Approved Strategic Direction

One of Don's first assignments was the evaluation of our resources and
capabilities and the development of a new strategic plan. Our continued focus on
the Company's cash preservation program remained as a top priority as the Board
of Directors recently approved the revised strategic plan that addressed the
Company's future cash needs, as well as our strategic options for unlocking
potential value for shareholders by utilizing current assets and evaluating
possible regional and structural synergies.

Key actions from the plan include for us to:

   o Prepare to be in a position to return to production in Texas should the
     price of uranium reach a sustainable level sufficient to generate positive
     cash flow.

   o Continue restoration activities in South Texas in accordance with existing
     agreements and requirements to maintain the positive success of our
     restoration capabilities.

   o Analyze synergistic attributes of competitive holdings and determine the
     potential for joint ventures, partnerships or other relationships to
     advance asset monetization prospects that may create value, or to dispose
     of non-core assets.

   o Evaluate  exploration  potential  in  South  Texas  and  enhance
     exploration capabilities.

   o Continue the discussions that we believe have improved the relationships
     with the communities, various government agencies and officials in New
     Mexico and other stakeholders. We are striving for an open and honest
     process to continue those communications to reach a positive outcome for
     all concerned.

   o Develop a plan that helps us create a future opportunity for cooperative
     efforts. We have been active in trying to educate everyone in the community
     and have been gaining general community support. Our most recent activities
     of building a job bank and educating individuals who want to come to work
     for us have been quite successful.

<PAGE>

   o Evaluate costs and benefits of advancing our Ambrosia Lake District project
     with our current permit to drill uranium exploratory holes on Section 13.
     URI has approximately one million pounds of in-place mineralized uranium
     material on this property, and the exploratory holes would be used to
     determine if the uranium is amenable to the ISR method of extraction.

   o Consider additional capital market listings.

Maintaining Liquidity is Primary Focus

The highest priority objective for us at the moment is to maintain a positive
cash position while we await the return of the uranium market and improved
prices. Production ceased in the second quarter of 2009 when it was determined
that the best economic decision for shareholders given the then current price of
uranium was to preserve the asset until appropriate margins could be made with
the expected return of uranium prices.

We had $6.1 million in cash at year-end 2009 and had $3.8 million at the end of
March 2010. We had targeted a $6 million annual burn rate, or $500,000 per
month, for our core business operations as part of our cost reduction and cash
preservation program which was put in place in late-2008 and continued in 2009.
During the first quarter of 2010 we incurred certain non-routine expenditures
for legal matters, trailing operations activities and South Texas project
related costs that kept us from reaching the target. We are striving to meet
this rate in the second quarter, however, in order to be in a solid position for
the return of the uranium market and to address certain legal issues, the target
may be attainable but not sustainable throughout the year. That means we will
need to enhance our cash position in the near future.

NASDAQ Listing Status

In January 2010, URI received an expected notice from NASDAQ that the Company
had failed to meet the exchange's requirements for continued listing on the
Global Market because the closing bid price for its shares had fallen below
$1.00 for thirty consecutive trading days. URI can regain compliance with the
minimum bid requirement if at any time before July 7, 2010, the bid price for
the Company's common stock closes at $1.00 per share or above for a minimum of
10 consecutive business days.

If URI doesn't regain compliance with the minimum bid price rule by July 7,
2010, NASDAQ will provide the Company with written notification that its common
stock is subject to delisting from the NASDAQ Global Market. At that time, the
Company will seek an additional grace period of another 180 calendar days by
applying for listing on the NASDAQ Capital Market if it meets all initial
listing requirements, with the exception of the bid price. We currently appear
to meet such requirements, but we cannot be assured of the outcome of such a
request.

2010 Begins with Strong News; Expecting Measurable Progress to Continue

We started the year with some great news. In March 2010, the Tenth Circuit Court
of Appeals upheld our NRC license in New Mexico. The strategic significance to
us was that it confirms the safety of the in-situ recovery methodology by the
Court in its review of the NRC's environmental impact study. The Court basically
stated that the appropriate standard of review has been met by the NRC. Although
the other parties could seek review by the United States Supreme Court, the
ruling helps to prevent the reopening of this licensing process and puts us in a
solid position to complete a bankable feasibility study in order to obtain the
necessary financing to advance this project and begin mining once the UIC permit
issues are resolved.

We are awaiting the outcome of the Tenth Circuit en banc review of the Indian
country issue which will determine whether New Mexico or the U.S. Environmental
Protection Agency has jurisdiction over the issuance of the UIC permit we need
for our Churchrock/Crown Point Project. On January 12, 2010, the en banc oral
arguments were heard by the Court and we are awaiting its decision. Suffice it
to say, if we have a very positive event with regard to the UIC permit, and we
move forward on the development activities in New Mexico, that would change the
nature of our long-term financing needs.

We appreciate your interest and investment in Uranium Resources and your
confidence in our ability to unlock the significant value we believe is inherent
within your Company.


Sincerely,

Paul K. Willmott                    Don Ewigleben
Executive Chairman                  President and CEO
April 21, 2010
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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