Uranium One Announces Results for Q2 2008 and Appoints Jean Nortier as CEO

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[{"type":"text","content":"\n\n\n\nTrading Symbols: UUU - Toronto Stock Exchange, JSE Limited (Johannesburg\nStock Exchange)\n\n\nVANCOUVER, BC and JOHANNESBURG, South Africa, Aug. 13 /CNW/ - Uranium One\nInc. ("Uranium One") today reported that Jean Nortier has been appointed\nPresident and Chief Executive Officer, as well as a director of the Company.\nUranium One also announced another record production quarter of 767,100 pounds\nof U(3)O(8) for the second quarter of 2008, quarterly earnings from mine\noperations of $32.9 million and substantial progress at its US Operations. The\nCompany also confirmed its 2008 production target of 3.1 million pounds\nU(3)O(8).\n\n\nAll figures are in US dollars unless otherwise indicated.\n\n\nHighlights:\n\n- Record production(1) in Q2 2008 of 767,100 pounds of U(3)O(8), an\n increase of 24% from 618,900 pounds of U(3)O(8) in Q1 2008 and 42%\n from 539,100 pounds of U(3)O(8) in Q4 2007\n- Attributable sales of 685,600 pounds of U(3)O(8) for Q2 2008, which\n was 142% more than attributable sales of 283,300 pounds of U(3)O(8)\n in Q1 2008 and 70% more than the average quarterly sales of 402,200\n pounds of U(3)O(8) per quarter during 2007\n- Earnings from mine operations of $32.9 million in Q2 2008 increased\n 102% from $16.3 million in Q1 2008 and 72% from $19.2 million in\n Q2 2007\n- Production guidance for 2008 remains unchanged at 3.1 million pounds\n U(3)O(8), comprising 1.8 million pounds from Akdala and 1.3 million\n pounds of pre-commercial production from South Inkai, Dominion and\n Kharasan\n- Sulphuric acid constraints in Kazakhstan eased during the quarter\n with the commissioning of the Balkhash sulphuric acid plant in June\n 2008\n- Measured resources in the United States increased by 80% from\n 10.7 million pounds of U(3)O(8) to 19.2 million pounds of U(3)O(8)\n- Moore Ranch feasibility study completed with an after-tax NPV of\n $81 million. Life of mine average cash operating costs before taxes\n in 2008 terms, are expected to be $14 per pound of U(3)O(8) and total\n cash costs are expected to be $26 per pound of U(3)O(8), including\n state taxes and royalties\n- $100 million senior secured revolving credit facility concluded in\n June\n- Realized cash proceeds of $66.7 million from the sale of non-core\n assets\n- Appointment of Eben Swanepoel as Senior Vice President, Africa &\n Europe...

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