Business
Uranium One Increases 2010 Production Guidance to 7.0 Million Pounds Due to Record Production
Uranium One Increases 2010 Production Guidance to 7.0 Million Pounds Due to Record Production
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n Aug. 9, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nVANCOUVER and JOHANNESBURG, South Africa, Aug. 9 /CNW/ - Uranium One Inc. ("Uranium One") today reported record quarterly production of 1.8 million pounds and a decrease in total cash costs at its operations to $15 per pound sold during the second quarter of 2010. Uranium One's 2010 production guidance has been increased from 6.8 million pounds to 7.0 million pounds as a result of better than expected performance from the Company's South Inkai Uranium Mine.\n\nQ2 2010 Highlights\n\n\n >\n\n\nJean Nortier, President and CEO of Uranium One commented:\n\n"This was an excellent quarter for Uranium One in terms of sales, production and operating costs. In light of the strong performance from South Inkai, we are pleased to be in a position to increase our production guidance for 2010 to 7.0 million pounds attributable to the Company. We are also looking forward to completing our transaction with ARMZ later this year."\n\nOutlook\n\nUranium One's attributable production estimate for 2010 has been increased to 7.0 million pounds from 6.8 million pounds due to better than expected performance at South Inkai. For 2011, the attributable production estimate remains unchanged at 8.0 million pounds, including initial production from the Powder River Basin in Wyoming. Production guidance for 2010 and 2011 does not include any potential contribution from Akbastau and Zarechnoye.\nDuring 2010, the average cash cost per pound sold is expected to be approximately $14 at Akdala and Karatau, and approximately $20 at South Inkai.\nUranium One's attributable sales estimate for 2010 continues to be approximately 6 million pounds.\nAttributable capital expenditures for the full year 2010 are estimated to be $148 million, including approximately $87 million for the Company's mines and development projects in Kazakhstan, and $61 million for its development projects in Australia...