Business
Uranium One Announces Record Sales of 1.7 Million Pounds and Lower Cash Costs
Uranium One Announces Record Sales of 1.7 Million Pounds and Lower Cash Costs
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n Nov. 15, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Nov. 15 /CNW/ - Uranium One Inc. ("Uranium One") today\n reported record quarterly sales of 1.7 million pounds, production of\n 1.7 million pounds and a decrease in total cash costs at its operations\n to $12 per pound sold during the third quarter of 2010.  Uranium One's\n 2010 production guidance remains 7.0 million pounds.  The Company's\n production guidance for 2011 is 10.5 million pounds and 12.5 million\n pounds for 2012.\n\n\nQ3 2010 Highlights\n\n\nOperational Results\n\n\n\nAttributable production during Q3 2010 of 1.75 million pounds was 109%\n higher than total attributable production of 834,800 pounds during Q3\n 2009.\n\n\nThe average total cash cost decreased by 20% to $12 per pound sold\n during Q3 2010, compared to the average total cash cost of $15 per\n pound sold during Q3 2009. \n\n\nAn operating license was issued by the NRC for the Moore Ranch in-situ\n uranium project in September 2010; this is the first new license\n granted by the NRC for the development of a new ISR operation since\n 1998.\n\n\n\nFinancial Results\n\n\n\nRecord attributable sales volumes of 1.7 million pounds for Q3 2010, an\n increase of 302% compared to 423,100 pounds sold during Q3 2009 and an\n increase of 12% compared to 1.5 million pounds sold during Q2 2010.\n Attributable sales volumes during October were 740,700 pounds.\n\n\nRevenue increased by 243% to $73.1 millio...