Uranium One Announces 10% Increase in Q1 2013 Production to 3.1 Million Pounds; Average Total Cash Costs of $17 per Pound

About this update from Uranium One Mining Corp.

[{"type":"text","content":"\n\n\n\n\n\nTORONTO, May 13, 2013 /CNW/ - Uranium One Inc. (\"Uranium One\") today\n reported quarterly revenue of $62.6 million for Q1 2013, including\n joint venture revenue, based on sales of 1.4 million pounds at an\n average realized sales price of $45 per pound and an average total cash\n cost per pound sold of $17.\n\n\nQ1 2013 Highlights\n\n\nOperational\n\n\nTotal attributable production during Q1 2013 was 3.1 million pounds, 10%\n higher than total attributable production of 2.8 million pounds during\n Q1 2012.\n\n\nThe average total cash cost per pound sold was $17 per pound for Q1\n 2013, compared to $14 per pound for Q1 2012.\n\n\nFinancial\n\n\n\n\n\nThe following table provides a summary of key financial results:\n\n\n \n\n\n \n\n\nFINANCIAL\n\n\nQ1 2013\n\n\nQ1 2012\n\n\nAttributable production (lbs) (1)\n\n3,018,000\n\n\n   2,572,500\n\n\nAttributable sales (lbs) (1)\n\n1,381,300\n\n\n1,809,400\n\n\nAverage realized sales price ($ per lb) (2)\n\n45\n\n\n53\n\n\nAverage total cash cost per pound sold($ per lb)(2)\n\n17\n\n\n14\n\n\nRevenues ($ millions) (3)(4)\n\n5.2\n\n\n5.3\n\n\nRevenues from joint ventures ($ millions)\n\n\n57.4\n\n\n90.6\n\n\nEarnings from mine operations ($ millions) (3)(4)\n\n1.9\n\n\n5.3\n\n\nEarnings from mine operations, including earnings from joint ventures ($\n millions)\n\n19.6\n\n\n49.3\n\n\nNet (loss) / earnings  ($ millions)\n\n\n(9.5)\n\n\n4.5\n\n\nNet (loss) / earnings per share - basic and diluted ($ per share)\n\n\n(0.01)\n\n\n0.00\n\n\n \n\n\n \n\n\n \n\n\nAdjusted net (loss) / earnings ($ millions)(2)\n\n(4.3)\n\n\n15.1\n\n\nAdjusted net earnings per share - basic ($ per share)(2)\n\n(0.00)\n\n\n0.02\n\n\n\n\n\nCorporate\n\n\nOn January 13, 2013, the Corporation entered into a definitive agreement\n with ARMZ under which the Corporation would be taken private pursuant\n to a Plan of Arrangement.  ARMZ and its affiliates currently own 51.4%\n of the Corporation's outstanding common shares; under the agreement,\n ARMZ will acquire all of the remaining publicly held Common Shares for\n a cash consideration of CDN$2.86 per share. The transaction is expected\n to close by the end of Q2 2013.\n\n\nOn March 25, 2013, the Corporation arranged a three year, $1.45 billion\n unsecured revolving credit facility with ARMZ. Drawings under ...

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