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Uranium One revenue falls 62%

Uranium One revenue falls 62% on lower volumes, prices

Mining Weekly By: Liezel Hill

13th November 2009

TORONTO – Vancouver-based Uranium One lost $11,9-million in the third quarter, compared with a $2-billion loss a year earlier, when the firm recorded a massive writedown mainly related to its Dominion project, in South Africa, but also on assets in the US and Australia.

After stripping out certain items, Uranium One reported a third-quarter adjusted net loss of $7,8-million, compared with a $5,6-million adjusted project in the same period of last year.

Revenue for the quarter dropped 62% year-on-year, to $21,3-million, after sales volumes declined by 50% and the average realised uranium price, at $50/lb, was 25% lower………………Uranium One shares fell 1,55% on Friday morning, to C$3,18 apiece by 10:10 in Toronto.

Uranium One revenue falls 62% on lower volumes, prices

November 14, 2009 - Posted by Christina Macpherson | 1, 2 WORLD, business and costs | antinuclear, nuclear, nuclear secrecy, uranium