Business
Uranium One Announces Financial Results for 2006
Uranium One Announces Financial Results for 2006.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\nTrading Symbol: SXR - Toronto Stock Exchange, JSE Limited (Johannesburg\n\n\nStock Exchange)\n\n\nTORONTO/JOHANNESBURG, South Africa, March 29 /CNW/ - sxr Uranium One Inc.\n("Uranium One") today reported audited financial results for the twelve months\nended December 31, 2006. All figures are in US dollars unless otherwise\nindicated. Complete details of the December 31, 2006 financial statements and\naccompanying management's discussion and analysis of financial condition and\nresults of operations can be found on Uranium One's website at\nwww.uranium1.com and will be made available on SEDAR at www.sedar.com.\n\n\nHighlights for the fiscal year 2006 include the following:\n\nFinancial\n\n- Total revenue of $3.3 million in 2006, compared to $2.7 million in\n 2005 primarily due to a higher realized gold price\n- In line with expectations, an operating loss of $50.7 million and net\n loss of $43.1 million (38.33 cents per share), compared to an\n operating loss of $27.3 million and net loss of $41.7 million\n (58.67 cents per share) primarily due to general and administrative\n expenditures as well as exploration expenditures\n- Increase of $131.8 million in non-current assets to $290.3 million at\n December 31, 2006 from $158.5 million at December 31, 2005 primarily\n as a result of additions to property, plant and equipment at\n Dominion, Honeymoon and at Modder East\n- Cash balances rose to $327.5 million as at December 31, 2006 from\n $10.9 million as at December 31, 2005 primarily due to the issuance\n of common shares and a convertible debenture during the year\n\nDominion Uranium Project\n\n- Completion of feasibility study on Phase 1 and preliminary assessment\n on Phase 2; commencement of conceptual studies on Phases 3 and 4 of\n the Project\n- Continued progress towards hot commissioning of the Dominion uranium\n plant, leading to the commissioning of the atmospheric leach section\n in February 2007\n- Significant increase in uranium resources:\n - Indicated U(3)O(8) resources of 36.4 million tonnes grading\n 0.81 kg/t, containing 64.9 million pounds U(3)O(8),\n representing a 303% increase during the year\n - Inferred U(3)O(8) resources of 219.4 million tonnes grading\n 0.38 kg/t, containing 183.6 million pounds U(3)O(8),\n representing a 25% increase during the year\n- Receipt of new order mining righ...