Uranium Resources Inc. said Monday that, as of July 31, it had about $7.2 million in cash compared to $11.1 million at the end of March and $15.4 million at the end of last year.

The decrease from the first quarter reflects ongoing reclamation activities in Texas, the costs associated with a feasibility study at its Churchrock/Crownpoint project in New Mexico and $500,000 of funding to collateralize the company's financial surety obligations, the Lewisville, Texas, company said in a statement.

"Given our plan to accelerate our engineering activities for our Churchrock project and our cash requirements for the evaluation of various strategic initiatives, we are currently weighing various alternatives and evaluating the timing associated with the need to raise additional capital," said Chief Executive Don Ewigleben.

He planned a conference call at 11 am Eastern time on " strategies, outlook, and progress in advancing its Texas and New Mexico properties."