Uranium One Announces 15% Increase in 2012 Production to 12.2 Million Pounds; Average Total Cash Costs of $16 per Pound Sold and Attributable Sales of 11.7 Million Pounds

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[{"type":"text","content":"\n\n\n\n\n\nTORONTO, March 27, 2013 /CNW/ - Uranium One Inc. (\"Uranium One\") today\n reported record revenue of $562.9 million for 2012 at an average total\n cash cost per pound sold of $16 based on sales of 11.7 million pounds\n at an average realized sales price of $48 per pound. Attributable\n production for 2012 was 12.2 million pounds.\n\n\n2012 Highlights\n\n\nOperational\n\n\nTotal attributable production during 2012 was a record 12.2 million\n pounds, 15% higher than total attributable production of\n 10.7 million pounds during 2011.\n\n\nThe average total cash cost per pound sold was $16 per pound during 2012\n compared to $14 per pound during 2011.\n\n\nFinancial\n\n\nAttributable sales volumes for 2012 increased by 18% to a record 11.7\n million pounds, compared to 9.9 million pounds sold during 2011.\n\n\nRevenue was a record $562.9 million in 2012, compared to $530.4 million\n in 2011. The average realized sales price during 2012 was $48 per pound\n compared to $54 per pound in 2011. The average spot price in 2012 was\n $49 per pound.\n\n\nEarnings from mine operations were $224.8 million during 2012, compared\n to earnings from mine operations of $262.6 million in 2011.\n\n\nThe net loss for 2012 was $96.7 million or $0.10 per share, compared to\n net earnings of $88.4 million or $0.09 per share for 2011.\n\n\nThe adjusted net earnings for 2012 were $68.2 million or $0.07 per\n share, compared to adjusted net earnings of $113.7 million or $0.12 per\n share for 2011.\n\n\nThe carrying value of the equity investment in Mantra was written down\n by $102.3 million in Q4 2012, due to delays in the expected initial\n production, (mainly from permitting delays), increased capital\n expenditure experienced in the industry, and lower uranium prices.\n\n\nIn Q3 2012, the carrying value of the Zarechnoye Mine was written down\n by $79.1 million, net of deferred taxes of $14.9 million, due to the\n decrease in uranium prices and a decrease in the South Zarechnoye\n resource base.\n\n\nCorporate \n\n\nThe United Arab Emirates announced the award of $3 billion worth of fuel\n supply contracts to six global suppliers, including Uranium One. This\n long term contract will meet a portion of the uranium requirements of\n the Barakah Nuclear Power Station scheduled to start up by 2017.\n\n\nThe Co...

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