Uranium One Announces 18% Increase in Q2 2013 Production to 3.6 Million Pounds; Average Total Cash Cost of $19 per Pound

About this update from Uranium One Mining Corp.

[{"type":"text","content":"\n\n\nTORONTO, Aug. 6, 2013 /CNW/ - Uranium One Inc. (\"Uranium One\") today\n reported quarterly revenue of $123.0 million for Q2 2013, including\n joint venture revenue, based on sales of 2.9 million pounds at an\n average realized sales price of $43 per pound at an average total cash\n cost per pound sold of $19.\n\n\nQ2 2013 Highlights\n\n\nOperational\n\n\n\nTotal attributable production during Q2 2013 was 3.6 million pounds, 18%\n higher than total attributable production of 3.0 million pounds during\n Q2 2012.\n\n\nThe average total cash cost per pound sold was $19 per pound for Q2\n 2013, compared to $16 per pound for Q2 2012.\n\n\n\n\n\n\nFinancial\n\n\n\nAttributable sales volumes for Q2 2013 were 2.9 million pounds sold from\n the Corporation's operations and joint ventures compared to 1.9 million\n pounds sold during Q2 2012.\n\n\nRevenue was $11.9 million in Q2 2013, compared to $13.0 million in Q2\n 2012.\n\n\nJoint venture revenue in Q2 2013 was $111.1 million, compared to $83.8\n million in Q2 2012.\n\n\nThe average realized sales price during Q2 2013 was $43 per pound,\n compared to $51 per pound in Q2 2012. The average spot price in Q2 2013\n was $40 per pound compared to $51 per pound in Q2 2012.\n\n\nEarnings from mine operations were $5.1 million in Q2 2013, compared to\n $3.1 million in Q2 2012.\n\n\nEarnings from mine operations, including earnings from joint ventures,\n were $31.1 million in Q2 2013, a 22% decrease compared to earnings from\n mine operations, including joint ventures, of $40.1 million in Q2 2012.\n\n\nThe net earnings for Q2 2013 were $10.6 million or $0.01 per share,\n compared to net earnings of $29.2 million or $0.03 per share for Q2\n 2012.\n\n\nThe adjusted net earnings for Q2 2013 were $7.0 million or $0.01 per\n share, compared to adjusted net earnings of $8.4 million or $0.01 per\n share for Q2 2012.\n\n\n\n\n\n\nCorporate\n\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. On March 7, 2013, the\n Corporat...

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