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Uranium One Announces Record Quarterly and Annual Production and Sales, Completion of C$270 Million Financing with JUMI Consortium and Receipt of US$20 Million Dividend from its Betpak Dala Joint Venture
Uranium One Announces Record Quarterly and Annual Production and Sales, Completion of C$270 Milli...
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\nJan. 14, 2010 (Canada NewsWire Group) -- VANCOUVER and JOHANNESBURG, South Africa, Jan. 14 /CNW/ -- Uranium One Inc. today announced record production and sales for the fourth quarter and for the full year 2009, primarily due to the successful ramp-up in production at the South Inkai Uranium Mine. The Company also announced the completion of its C$270 million convertible debenture financing with the JUMI consortium and the receipt of a US$20 million dividend from its Betpak Dala Joint Venture.HighlightsProduction- 42% increase in quarterly attributable production for Q4 2009, to arecord 1.2 million lbs U(3)O(8), from 0.8 million lbs produced in Q32009- 24% increase in annual attributable production for 2009, to a record3.6 million lbs U(3)O(8), compared to 2.9 million lbs produced in2008Sales- 254% increase in quarterly sales volumes for Q4 2009, to a record 1.5million lbs U(3)O(8), compared to 0.4 million lbs during Q3 2009- 44% increase in annual attributable sales volumes for 2009, to arecord 3.2 million lbs U(3)O(8), compared to 2.2 million poundsduring 2008Convertible Debenture Closing- Completion of convertible debenture financing with Japaneseconsortium and receipt of aggregate proceeds of C$270 million onJanuary 14, 2010Dividends- Payment of dividend by Betpak Dala Joint Venture and receipt byUranium One of US$20 million in December 2009Karatau and Christensen Ranch Acquisitions; Sale of Texas Assets- Completion in December 2009 of the acquisition and registration ofUranium One's 50% interest in the Karatau Uranium Mine- Receipt of all regulatory approvals required in connection with theacquisition of Christensen Ranch and Irigaray in Wyoming; closingexpected by January 31, 2010- Completion in December 2009 of the sale of the Company's Texas assetsto Uranium Energy Corp. (\"UEC\") for 2.5 million restricted commonshares of UECProductionAttributable production during 2009 from Akdala, South Inkai and Kharasan was 3.5 million pounds U(3)O(8), in line with the Company's guidance for the year. Including production from Karatau from December 22, 2009, Uranium One's attributable production for 2009 was 3.6 million pounds U(3)O(8), a 24% increase compared to 2.9 million pounds produced during 2008.During the fourth quarter of 2009, attributable production was 1.2 million pounds U(3)O(8), the highest quarterly production...