Business
Uranium One Reports 2005 Year End Results
Uranium One Reports 2005 Year End Results.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol: SXR - The Toronto Stock Exchange\n\nTORONTO and JOHANNESBURG, South Africa, March 31 /CNW/ - sxr Uranium One\nInc. today reported audited financial results for the year ended\nDecember 31, 2005. All figures are in US dollars unless otherwise indicated.\nComplete details of the December 31, 2005 financial statements and\nManagement's Discussion and Analysis can be found on Uranium One's website at\nwww.uranium1.com as well as on SEDAR at www.sedar.com.\nHighlights of 2005 include:\n\n- completion of the merger of the former Southern Cross Resources Inc.\n and Aflease Gold and Uranium Resources Limited\n\n- increase of $104.3 million in non-current assets primarily as a result\n of the acquisition of Southern Cross's Australian uranium properties,\n including the fully permitted Honeymoon Project in South Australia\n\n- 2005 operating loss of $27.3 million and net loss of $41.7 million\n (58.67 cents per share) in connection with the Corporation's growth\n plan\n\n- Dominion Project resource - a 65% increase in indicated uranium\n resources (to 16.1 million pounds) and a 29% increase in inferred\n uranium resources (to 146.6 million pounds), with a 50% increase in\n the indicated uranium grade\n\n- in the first quarter of 2006, merged the Modder East gold project into\n Johannesburg-listed Aflease Gold Limited (formerly Sub Nigel Gold\n Mining Company); Uranium One currently holds 79% of Aflease Gold\n\n- completed a gross $148 million capital raising in the first quarter of\n 2006\n\nCommenting on the Corporation's progress, Neal Froneman, President and\nChief Executive Officer of Uranium One, said: \"2005 was a year of significant\nprogress and accomplishments. The merger of the former Southern Cross and\nAflease created a mid-tier uranium and gold exploration and mining company,\nwith an exciting portfolio of exploration and development assets in South\nAfrica, Australia and Canada. We look forward to completing feasibility\nstudies for the first phase of the Dominion Project and for the Honeymoon\nProject later this year and to advancing Dominion to uranium production in the\nfirst quarter of 2007.\"\n\nAbout sxr Uranium One\n\nsxr Uranium One Inc. is a Canadian uranium and gold resource company with\na primary listing on the Toronto Stock Exchange and a secondary listing on the\nJohannesburg stock ex...