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Moneyweb – Investment Insights – Uranium One’s shocker

Uranium One’s shocker
Uranium One writes down USD 2.8bn in the third quarter, mostly attributable to the Dominion debacle in South Africa.
MONEYWEB Barry Sergeant14 November 2008 16:08 JOHANNESBURG –”……………………….During the latest quarter, Uranium One wrote down mineral interests, plant and equipment to the tune of USD 1.8bn on Dominion, USD 0.7bn on US exploration properties, USD 0.2bn on Honeymoon and Australian exploration, and USD 0.1bn on Hobson (US), La Palangana (US) and Shootaring Mill (US).

According to statements from the company released on Friday, the fair value of Dominion at 30 September 2008 has been estimated as its “salvage value” of USD 50.5m.

Uranium One’s stock price has moved from highs in 2007 of CAD 35 a share – the stock holds a primary listing in Toronto – to recent lows of 60 cents a share, a fall of 99%. The stock was most recently quoted at CAD 1.13 a share.

Uranium One has persistently refused to supply even the vaguest answer as to how much shareholder cash Dominion has been wolfing down. -…………………………..Uranium One’s stock price has moved from highs in 2007 of CAD 35 a share – the stock holds a primary listing in Toronto – to recent lows of 60 cents a share, a fall of 99%.

Moneyweb – Investment Insights – Uranium One’s shocker

Tags: nuclear, antinuclear, radioactive, uranium

November 15, 2008 - Posted by Christina Macpherson | business and costs