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Uranium One Announces Financial Results for Q1 2007
Uranium One Announces Financial Results for Q1 2007.
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 and JOHANNESBURG, South Africa, May 14 /CNW/ - sxr Uranium One\nInc. ("Uranium One") today reported unaudited financial results for the three\nmonths ended March 31, 2007. All figures are in US dollars unless otherwise\nindicated. Complete details of the March 31, 2007 financial statements and\nmanagement's discussion and analysis thereon can be found on the Uranium One\nwebsite www.uranium1.com and on SEDAR at www.sedar.com.\n\n\nThe unaudited financial results for the three months ended March 31, 2007\ndo not include the results from UrAsia Energy Ltd. ("UrAsia") which was\nacquired on April 20, 2007 subsequent to the quarter end. However, a\ndiscussion of the performance of UrAsia during the quarter is provided.\nUrAsia's financial statements for the three months ended March 31, 2007 and\nmanagement's discussion and analysis thereon can be found on the Uranium One\nwebsite and on SEDAR at www.sedar.com under UrAsia Energy Ltd.\n\n\nQ1 2007 Highlights\n\n\nsxr Uranium One\n\n\nFinancial\n\n\n---------\n\n\n- In line with expectations, a Q1 operating loss of $8.9 million and a\n net loss of $3.8 million ($0.03 per share - basic and fully diluted),\n compared to an operating loss of $9.6 million and net loss of $1.9\n million ($0.02 per share - basic and fully diluted) in Q1 2006.\n- An increase from December 31, 2006 of $39.8 million in non-current\n assets to $330.1 million at March 31, 2007, primarily as a result of\n additions to property, plant and equipment at Dominion, Honeymoon and\n Modder East.\n- Cash balances declined to $287.7 million as at March 31, 2007, from\n $327.5 million at December 31, 2006, primarily due to the capital\n spent on the further development of projects.\n\nDominion Uranium Project\n- The National Nuclear Regulator (NNR) issued a Certificate of\n Registration (CoR) in February 2007.\n- Processing of ore from underground commenced in February 2007; ramp-up\n of production from underground, and completion of all plant\n components, is ongoing in order to meet stated production targets.\n- Milestone achievements at the plant during the quarter include:\n - Hot commissioning on February 28, 2007 of the atmospheric leach\n circuit, including the uranium counter current...