Centrifuge Press Release should cause stock to pop!
BETHESDA, Md. – USEC Inc. (NYSE: USU) and its subsidiary American Centrifuge
Demonstration, LLC recently amended their cooperative agreement with the Department of Energy
(DOE) to provide for additional federal funds of $45.7 million through February 23, 2013. This funding
for the American Centrifuge research, development and demonstration (RD&D) program was made
available pursuant to the six-month continuing appropriations measure passed by Congress and signed
by the President on September 28, 2012.
“USEC and our partners have made solid progress since June in manufacturing AC100
centrifuge machines and preparing the American Centrifuge Plant for the systems infrastructure needed
for the demonstration cascade,” said John K. Welch, USEC president and chief executive officer.
“We continue to work very closely with DOE officials on the RD&D program, and we
appreciate the support of the Obama Administration and the bi-partisan support of Congress that this
additional funding represents. As we work to obtain the remainder of the federal cost-sharing funds that
are essential to successfully complete the objectives established for the RD&D program, we are pleased
to be able to report that the program is within budget and on schedule,” Welch said.
The amendment for additional funding comes as the RD&D program moves into the next phase
of construction for the 120-machine demonstration cascade. During this phase, machine operations in
the current lead cascade at the American Centrifuge Plant facilities in Piketon, Ohio, is being suspended
for a planned electrical power outage. The several-month outage will allow for the construction and
installation of fully redundant support infrastructure systems necessary to operate the demonstration
why should they do that? They have 300M cash plus 100M bonus from Obama. First they will eat this money and only after they will bother with your proposal of chapter 11...You must wait, there is no other option for you :)