Business
Uranium One Announces Strong Production Results for Year to Date 2010 and Record 2009 Production and Revenue
Uranium One Announces Strong Production Results for Year to Date 2010 and Record 2009 Production ...
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\nVANCOUVER, British Columbia and JOHANNESBURG, South Africa, Mar. 10, 2010 (Canada NewsWire Group) -- /CNW/ -- Uranium One Inc. (\"Uranium One\") today reported operational and financial results for the year ending December 31, 2009, as well as production results for the first two months of 2010. The financial statements, as well as the accompanying management's discussion and analysis, are available for review at www.uranium1.com and should be read in conjunction with this news release. All figures are in U.S. dollars unless otherwise indicated. All references to pounds sold or pounds produced are to pounds of U(3)O(8).HighlightsOperational Results- Strong attributable production results during the first two months of2010 of 1.2 million pounds- Ramp-up of South Inkai continuing to perform well with attributableproduction of 491,400 pounds during the first two months of 2010 andimproved concentrations of uranium in solution- Record attributable production during 2009 of 3.6 million pounds, a24% increase compared to the 2.9 million pounds produced in 2008- Average total cash cost per pound sold was $16 during 2009, comparedto $14 per pound sold during 20082009 Financial Results- 44% increase in attributable sales volumes for 2009 to a record of3.2 million pounds, compared to 2.2 million pounds during 2008- Revenue for 2009 was $152 million at an average realized sales priceof $48 per pound, compared to 2008 revenue of $150 million at anaverage realized sales price of $68 per pound- Earnings from mine operations were $55 million for 2009, down from$97 million in 2008, mainly due to lower realized sales prices- Dividend of $20 million, net of Kazakh withholding taxes, receivedfrom the Company's Betpak Dala joint venture in December 2009Corporate- Acquisition of a 50% interest in the Karatau Uranium Mine completed inDecember 2009- Completion of convertible debenture financing with a Japaneseconsortium and receipt of aggregate proceeds of approximatelyC$270 million in January 2010- Acquisition of Christensen Ranch and Irigaray in Wyoming completed inJanuary 2010- Bought deal financing announced in February 2010 for C$250 millionaggregate principal amount of convertible unsecured subordinateddebentures. Closing is expected to take place on March 12, 2010- New directors - Uranium One appointed Vadim Zhivov, Director Generalof AR...