nuclear-news

Uranium One’s CEO puts a brave spin on gloomy market results

Uranium One’s CEO Discusses Q3 2012 Results – Earnings Call Transcript Seeking Alpha November 6, 2012 “…..This upcoming discussion does contain certain forward-looking information with respect to Uranium One’s operations and financial results. Actual future results may differ from expected results for a variety of reasons which are described in the cautionary statements regarding forward-looking information in our press release..

…  during the quarter, we did determine that it would not be economical to mine, the South Zarechnoye satellite deposit due to lower uranium prices following the Fukushima incident together with a decrease in the resource base
resulting from recent exploration work.

As a result, we incurred non-cash expenses $79 million by writing down the carrying value of South Zarechnoye. This resulted in a net loss for the quarter of $61.6 million or $0.06 per share……  Uranium One now owns 100% of the Honeymoon mine

November 7, 2012 - Posted by Christina Macpherson | 2 WORLD, business and costs