URANIUM ONE INC.
§URANIUM ONE INC.
Attention Business/Financial Editors
Uranium One Announces Financial Results for Q2 2007
§ TORONTO and JOHANNESBURG, South Africa, Aug. 13 /CNW/ - Uranium One Inc.
("Uranium One") today reported unaudited financial results for the three and
six months ended June 30, 2007. All figures are in US dollars unless otherwise
indicated. Complete details of the June 30, 2007 financial statements and
management's discussion and analysis thereon can also be found on the Uranium
One website
www.uranium1.com and on SEDAR at
www.sedar.com.
§ The net loss for the quarter ending June 30, 2007 was $13.7 million, or
$0.04 per share. This compares to a net loss of $32.2 million, or $0.15 per
share for the quarter ending July 31, 2006.
§ <<
§ Highlights for quarter ending June 30, 2007 include:
§ - Revenues of $23.3 million from the sale of 244,200 pounds U(3)O(8),
§ representing an average realized uranium price of $95 per pound
§ - Earnings from mine operations of $19.2 million
§ - Attributable production of 452,200 pounds U(3)O(8)
§ - Cash cost per pound sold was approximately $8 per pound(1)
§ - The UrAsia Energy Ltd. transaction and the acquisition of the uranium
§ assets of U.S. Energy Corp. were completed during the quarter
§ - The acquisition of Energy Metals Corporation was completed subsequent
§ to the end of the quarter
§ >>
§ Uranium One recorded revenue of $65.0 million for the six months ending
June 30, 2007 compared to revenue of $17.3 million for the six months ending
July 31, 2006. Earnings from mine operations were $49.0 million for the six
months ending June 30, 2007 compared to $6.0 million for the six months ending
July 31, 2006. For the six months ended June 30, 2007, the net loss was
$5.7 million, or $0.02 per share compared to a net loss of $44.2 million, or
$0.20 per share for the six months ending July 31, 2006. Attributable
production of U(3)O(8) was 940,200 pounds for the six months ending June
30, 2007, which represents an 8% increase over attributable production of
867,200 pounds for the six months ending July 31, 2006. The cash cost per
pound sold was approximately $11 per pound for the six months ending
June 30, 2007 compared to a cash cost per pound sold of approximately $12 per
pound for the six months ending July 31, 2006.
§ Commenting on the results, Uranium One's President and CEO Neal Froneman
said:
§ "Uranium One's sales of uranium from Akdala proves that we have one of
the best contract books in the industry with an average realized price of
$95 per pound sold during the quarter. Our contract book has allowed us to
achieve solid revenues and earnings from mine operations for the six months
ending June 30, 2007. From this sound platform of low cost production from
Akdala, and with sales from new production expected at Dominion, South Inkai,
Kharasan and Honeymoon over the upcoming quarters, Uranium One offers its
shareholders excellent leverage to the current price for uranium. In addition,
these results demonstrate tangible progress that our operational and project
development teams have made toward our goal of becoming one of the world's top
five, low cost international uranium producers."
§ About Uranium One
§ Uranium One Inc. is a Canadian-based uranium producing company with a
primary listing on the Toronto Stock Exchange and a secondary listing on the
JSE Limited (the Johannesburg stock exchange). The Corporation owns 70% of the
operating Akdala Uranium Mine in Kazakhstan and is also developing the South
Inkai and Kharasan Uranium Projects in Kazakhstan. Uranium One owns the
Dominion Uranium Project in South Africa, as well as the Honeymoon Uranium
Project in South Australia. In the United States, Uranium One has extensive
property holdings in Wyoming, Texas, Utah and New Mexico, including the
Shootaring Canyon Mill and the Hobson ISR facility. Uranium One is also
engaged in uranium exploration activities in the United States, the Athabasca
Basin of Saskatchewan, South Africa, Australia and the Kyrgyz Republic.
Quelle:
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