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« EU Announces Resumption of Talks with Iran | Main | Hyperion Power Generation Inc. Plans to Deploy an Advanced Hyperion Reactor at the DOE Savannah River Site »

Uranium One Announces Record Revenue of $530 Million and Total Cash Costs of $14 per Pound for 2011


March 5, 201

Toronto, Canada – Uranium One Incorporated (UUU) today reported record revenue of $530 million for 2011 based on record sales and production of 9.9 and 10.7 million pounds. Uranium One also reported cash costs per pound sold of $14 for 2011. Net earnings for 2011 were $88 million, or $0.09 per share and adjusted net earnings for 2011 were $114 million or $0.12 per share.

2011 Highlights

Operational Results

• Total attributable production during 2011 was a record 10.7 million pounds, 43% higher than total attributable production of 7.4 million pounds during 2010.

• The average total cash cost per pound sold was $14 per pound during 2011, compared to the average cash cost per pound sold of $13 per pound during 2010.

• Total attributable production during Q4 2011 was a record 3.4 million pounds, 60% higher than total attributable production of 2.1 million pounds during Q4 2010.

Financial Results

• Attributable sales volumes for 2011 increased by 44% to a record 9.9 million pounds, compared to 6.9 million pounds sold during 2010.

• Revenue increased by 62% to a record $530 million in 2011, compared to $327 million in 2010. The average realized sales price during 2011 was $54 per pound. The average spot price for uranium in 2011 was $57 per pound.

• Earnings from mine operations were $263 million during 2011, an 89% increase from earnings from mine operations of $138.7 million in 2010, due to increased sales volumes.

• The net earnings for 2011 were $88 million or $0.09 per share, compared to net losses of $154 million or $0.25 per share for 2010.

• The adjusted net earnings for 2011 were $114 million or $0.12 per share, compared to adjusted net losses of $3.3 million or $0.01 per share for 2010.


• During June 2011, Uranium One became the operator of Mantra’s Mkuju River Project in Tanzania. On January 16, 2012, Uranium One elected to pay $150 million to ARMZ which will both extend the term of the Mantra purchase option from June 7, 2012 to June 7, 2013 and result in Uranium One acquiring a 13.9% stake in Mantra from ARMZ.

Its nice to be able to report some good news after the battering this sector has had.

Regarding We are off to a good start this year closing two trades in January, the first gave us a profit of 71.58% and the second gave us a profit of 33.97%.

It was nice to bag a couple of winners before January ended and hopefully 2012 will continue in a successful manner. We do have a number of ideas on the drawing board which we are looking to execute shortly, but only when the risk/reward environment is firmly in our favour.

Please be aware that discussions are taking place regarding an increase in the price for this service for new members. We have looked at about 100 similar services and the average cost for them is $866.00 per year. This price increase will not affect the current subscribers whose subscription will remain unchanged.

Our performance stats have now been updated as follows:

Our model portfolio is up 446.55% since inception

An annualized return of 98.38%

Average return per trade of 36.68%

96 completed trades, 88 closed at a profit

A success rate of 91.67%

Average trade open for 50.48 days

Also many thanks to those of you who have already joined us and for the very kind words  that you sent us regarding the service so far, we hope that we can continue to put a smile on your faces.

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