Uranium One Announces Financial Results for Q3 2007

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[{"type":"text","content":"\n\n\n\nTrading Symbols: UUU - Toronto Stock Exchange, JSE Limited (Johannesburg\n\n\nStock Exchange)\n\n\nTORONTO and JOHANNESBURG, South Africa, Nov. 14 /CNW/ - Uranium One Inc.\n("Uranium One") today reported unaudited financial results for the three and\nnine months ended September 30, 2007. All figures are in US dollars unless\notherwise indicated. Complete details of the September 30, 2007 financial\nstatements and management's discussion and analysis thereon will be made\navailable on the Uranium One website www.uranium1.com and on SEDAR at\nwww.sedar.com.\n\n\nHighlights for the quarter ending September 30, 2007 include:\n\n\n- Attributable production from Akdala of 463,000 pounds U3O8\n- Cash cost per pound sold from Akdala was approximately $9 per pound(1)\n- Production from Dominion was approximately 86,800 pounds U3O8\n- In October, production flow commenced at South Inkai\n- Revenues of $8.0 million from the sale of 70,000 pounds U3O8,\n representing an average realized uranium price of $115 per pound\n- Earnings from mine operations of $6.3 million\n- The acquisition of Energy Metals Corporation was completed during the\n quarter\n- Uranium One was added to the S&P/TSX 60 Index subsequent to quarter\n end\n\n\nThe net loss for the quarter ending September 30, 2007 was $17.3 million,\nor $(0.04) per share. This compares to net income of $25.9 million, or $0.12\nper share for the quarter ending October 31, 2006.\n\n\nUranium One recorded revenue of $73.0 million for the nine months ending\nSeptember 30, 2007 compared to revenue of $21.5 million for the nine months\nending October 31, 2006. Earnings from mine operations were $55.3 million for\nthe nine months ending September 30, 2007 compared to $7.6 million for the\nnine months ending October 31, 2006. For the nine months ending September 30,\n2007, the net loss was $23.0 million, or $(0.07) per share compared to a net\nloss of $18.3 million, or $(0.08) per share for the nine months ending\nOctober 31, 2006. Attributable production of U3O8 was 1,403,200 pounds for the\nnine months ending September 30, 2007, compared to 1,380,300 pounds for the\nnine months ending October 31, 2006. The cash cost per pound sold was\napproximately $11 per pound for the nine months ending September 30, 2007\ncompared to a cash cost per pound sold of approximately $10 per p...

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