Business
Uranium One Announces Financial Results for Q2 2007
Uranium One Announces Financial Results for Q2 2007.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\nTORONTO and JOHANNESBURG, South Africa, Aug. 13 /CNW/ - Uranium One Inc.\n("Uranium One") today reported unaudited financial results for the three and\nsix months ended June 30, 2007. All figures are in US dollars unless otherwise\nindicated. Complete details of the June 30, 2007 financial statements and\nmanagement's discussion and analysis thereon can also be found on the Uranium\nOne website www.uranium1.com and on SEDAR at www.sedar.com.\n\n\nThe net loss for the quarter ending June 30, 2007 was $13.7 million, or\n$0.04 per share. This compares to a net loss of $32.2 million, or $0.15 per\nshare for the quarter ending July 31, 2006.\n\n\nHighlights for quarter ending June 30, 2007 include:\n\n- Revenues of $23.3 million from the sale of 244,200 pounds U(3)O(8),\n representing an average realized uranium price of $95 per pound\n- Earnings from mine operations of $19.2 million\n- Attributable production of 452,200 pounds U(3)O(8)\n- Cash cost per pound sold was approximately $8 per pound(1)\n- The UrAsia Energy Ltd. transaction and the acquisition of the uranium\n assets of U.S. Energy Corp. were completed during the quarter\n- The acquisition of Energy Metals Corporation was completed subsequent\n to the end of the quarter\n\n\nUranium One recorded revenue of $65.0 million for the six months ending\nJune 30, 2007 compared to revenue of $17.3 million for the six months ending\nJuly 31, 2006. Earnings from mine operations were $49.0 million for the six\nmonths ending June 30, 2007 compared to $6.0 million for the six months ending\nJuly 31, 2006. For the six months ended June 30, 2007, the net loss was\n$5.7 million, or $0.02 per share compared to a net loss of $44.2 million, or\n$0.20 per share for the six months ending July 31, 2006. Attributable\nproduction of U(3)O(8) was 940,200 pounds for the six months ending June\n30, 2007, which represents an 8% increase over attributable production of\n867,200 pounds for the six months ending July 31, 2006. The cash cost per\npound sold was approximately $11 per pound for the six months ending\nJune 30, 2007 compared to a cash cost per pound sold of approximately $12 per\npound for the six months ending July 31, 2006.\n\n\nCommenting on the results, Uranium One's President and CEO Neal Froneman\nsaid:\n\n\n"Uranium One's sales of uranium from Akdala proves that ...