Business
Uranium One Announces Q3 2014 Production of 1.6 Million Pounds and an Average Total Cash Cost of $13 per Pound Sold
TORONTO , Nov. 14, 2014 /CNW/ - Uranium One Inc. ("Uranium One" or the "Corporation") tod...
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\nTORONTO, Nov. 14, 2014 /CNW/ - Uranium One Inc. (\"Uranium One\" or the \"Corporation\") today reported headline revenues of $43.6 million for Q3 2014. Quarterly attributable revenue(2) was $118.3 million for Q3 2014, including joint venture revenue, based on sales of 2.6 million pounds at an average realized sales price of $29 per pound and an average total cash cost per pound sold of produced material(2) of $13. The Corporation also reported that subsoil use rights to the Akdala, South Inkai and Kharasan fields were re-issued on October 17, 2014. \n\nQ3 2014 Highlights\n\nOperational\n\n\nTotal attributable production during Q3 2014 was 1.6 million pounds, compared with total attributable production of 3.2 million pounds during Q3 2013. From June 4, 2014 to September 30, 2014, the Corporation did not recognize production from the Akdala, South Inkai and Kharasan mines, due to the loss of subsoil rights to produce uranium at those mines. The Corporation's attributable production would have been 3.1 million pounds for the third quarter if these rights had not been lost. Subsequent to Q3 2014, subsoil use rights to the Akdala, South Inkai and Kharasan fields were re-issued. \nThe average total cash cost per pound sold of produced material(2) was $13 per pound during Q3 2014 compared to $16 per pound for Q3 2013. \n\nFinancial\n\n\nAttributable sales volumes of produced material for Q3 2014 were 2.6 million pounds sold from the Corporation's operations and joint ventures compared to 6.0 million pounds sold during Q3 2013. \nHeadline revenue was $43.6 million in Q3 2014, compared to $137.7 million in Q3 2013. \nAttributable revenues(2) consistent with the Corporation's segment reporting, which includes revenues from its interests in joint ventures, amounted to $118.3 million in Q3 2014, compared to $231.7 million in Q3 2013. \nThe average realized sales price of produced material(2) during Q3 2014 was $29 per pound, compared to $37 per pound in Q3 2013. The average spot price in Q3 2014 was $32 per pound compared to $35 per pound in Q3 2013. \nGross loss was $4.0 million during Q3 2014, compared to gross profit of $13.4 million in Q3 2013. \nAttributable gross profit(2), including the Corporation's share of gross profit from joint ventures, totaled $32.0 million in Q3 2014, compared to $52.6 million in Q3 20...