Archive for the ‘Uranium One’ Category

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Uranium One – “future results may differ from expected results”

December 28, 2012

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

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Another uranium company posts a loss

December 28, 2012

Uranium One posts 3Q loss despite production increase 11/5/2012   Stockhouse Editorial Uranium One Inc. (TSX: T.UUU, Stock Forum) announced its third quarter financial results on Monday and said total production rose 23% to 3.1 million pounds from 2.5 million pounds in the year earlier period.

Uranium One is a Toronto-based company with assets in Kazakhstan, the United States and Australia…..
The company posted a net loss of $61.6 million or 6 cents a share in the quarter. That compared to a net profit of $45.8 million or 5 cents a share a year earlier. Revenue in the quarter was $142.6 million, down from $157.7 million in the year ago period.
Down 1% Monday to $2, Uranium One has a market cap of $1.9 billion, based on 957.2 million shares outstanding. The 52-week range is $3.45 and $1.98. http://www.stockhouse.com/natural-resources-news/2012/nov/5/uranium-one-posts-3q-loss-despite-production-incre.aspx#uEqGXOEW55vDjfL4.99

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Actually sendng uranium from Australia to India – a distant dream

November 4, 2012

 the glacial pace of nuclear power plant construction and activation in India in the face of anti-nuclear campaigns;

Indian uranium deals a long way off  GEOFF HISCOCK   The Australian October 29, 2012 AUSTRALIA’S new willingness to sell uranium to India is more about snuggling up to Asia’s third largest economy than any actual nuclear
commerce. It is highly unlikely that Australian uranium will be powering Indian nuclear reactors in this decade.

India’s 20 operating reactors, spread across six sites, have an installed capacity of 4.8 gigawatts (GW) and consume about 1000 tonnes of uranium a year. With New Delhi setting revised goals of boosting nuclear output to 14.4 GW
by 2020 and between 27.5 and 63 GW by 2032, the decision by the Gillard government to allow uranium sales to India seemingly presents an opportunity for Australian producers BHP Billiton, Rio Tinto, Heathgate Resources and Uranium1. (more…)

Posted in BHP Billiton, Heathgate resources, politics, Rio Tinto, Uranium One | Leave a Comment »

Uranium prices falling steadily over past year

January 2, 2012

Fukushima affects uranium stocks, Star Tribune, 18 DecShare prices of global uranium majors continue to suffer the aftereffects of an earthquake and tsunami that rocked Japan’s Fukushima nuclear power plant last March.
That’s the assessment of Sydney, Australia-based Resource Capital Research, which noted share prices for selected companies have declined substantially.
An analysis noted that Cameco shares declined by nearly 50 percent over the past year, while Uranium One shares had dropped by nearly 45 percent. Energy Resources of Australia stock fell by 82.1 percent.
“The Merril Lynch Uranium Equity Index (a global basket of uranium equities) is down 2 percent over the past month, down 7 percent over three months and down 54 percent over the past 12 months,” the firm said in a report earlier this month. …..
The uranium spot price was pegged at $52.25, down from $67.75 prior to the Fukushima disaster. In the near-term, Resource Capital Research said Fukushima will continue to weigh on the market, “including Germany’s decision to
close reactors and the potential for disposal of surplus utility inventory.”…..

Posted in Cameco, economics, ERA, Uranium One | Leave a Comment »

Cameco, Denison, Uranium One, Paladin – uranium share prices falls down 27%

October 4, 2011

Shares of Denison Mines and Uranium Resources Face Strong Downward Pressure, MarketWatch, NEW YORK, NY, Sep 30, 2011 (MARKETWIRE via COMTEX)-- Uranium stocks have struggled this month as prices for the radioactive material have plunged. According to the latest quarterly report by Resource Capital Research, uranium prices are down 27 per cent over the past three months and 23 per cent over the past year….

Uranium explorers that suffered double-digit share price percentage falls in the past one to three months include Cameco, Denison Mines, Uranium One and Paladin….
http://www.marketwatch.com/story/shares-of-denison-mines-and-uranium-resources-face-strong-downward-pressure-2011-09-30?reflink=MW_news_stmp

Posted in Cameco, Denison Mines, economics, Paladin, Uranium One | Leave a Comment »

Poor growth predicted for uranium industry – Uranium One

August 14, 2011

Uranium One cuts demand forecast by 8%-10% TORONTO Mining Weekly, 9th August 2011 – Canada’s Uranium One has cut its demand growth projections for uranium for its namesake product by 8% to 10% over the next decade,…..

Last month, Australia-based Paladin Resources cut its 2012 uranium production guidance to 7.4-million pounds and 7.9-million pounds from the previous forecast of 8.2-million pounds, mainly because of delays to its stage-three expansion at the Langer Heinrich mine in Namibia.

This was followed by an August 4 announcement by uranium’s perennial under-performer, Rio Tinto’s Energy Resources of Australia, that it had nearly halved the reserves at its Ranger mine……

Yellow cake prices dropped to $49/lb from around $66/lb in the immediate wake of the Japanese disaster, and have since settled at about $52/lb.–

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Uranium One suffers price dive

April 9, 2011

Uranium One has year-end loss  The Calgary Herald March 8, 2011 . Uranium One Inc. reported a fourth-quarter loss of $148.2 million on Tuesday, compared with a profit of $179.6 million in the same period a year earlier. It said the loss was due to a series of one-time expenses.
The company, based in Vancouver and Johannesburg, said the loss amounted to 24 cents a share, compared with a profit of 38 cents a share during the fourth quarter of 2009……

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Russian uranium company Atomredmetzoloto, to own Utah town

January 8, 2011

SALT LAKE CITY, Dec. 12 (UPI) — A Russian company has won approval to take over a U.S. uranium operation, including a whole town in Utah, an executive says.Citing national security, four members of Congress had urged the U.S. Treasury to keep the Canadian Uranium One company from selling majority ownership to Atomredmetzoloto, whose parent entity is Rosatom, the Russian nuclear agency. One concern is that Rosatom has sent highly radioactive reactor fuel to Iran.
But the Treasury Department, the U.S. Nuclear Regulatory Commission and the Utah Division of Radiation Control have approved the deal, The Salt Lake Tribune reported….Russian firm buying U.S. uranium mine – UPI.com

Posted in Atomoredzoloto (ARMZ), politics, Rosatom, Uranium One | 1 Comment »

Senators seek to block Russian ownership of U.S. uranium mill

November 11, 2010

Four Republican members of the U.S. House of Representatives sent a letter to Treasury Secretary Timothy Geitner, urging him to block the Russian-Canadian deal,

Uranium Deal Faces U.S. Objections, The Moscow Times, 11 October 2010, By Derek Andersen, Russian uranium producer Atomredmetzoloto maintained a calm front Friday in the face of objections by powerful U.S. legislators to a deal that would give it control over a uranium mining operation in the United States. (more…)

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Uranium spot price falls with fears over Uranium One and Rosatom

July 10, 2010

“alarmed industry observers worried that the Vancouver-based company might end up serving the Kremlin’s strategic interests.”
The spot price of uranium reacted to this news by falling in price.

Financing uranium mining raises concern, Star Tribune, Hildred Shelton, July 7, 2010 The hearing on uranium mining conducted in Chatham on June 22 by the Virginia Coal and Energy Commission Subcommittee has received extensive comment………………..that brings up a current development in financing uranium mining which is causing international commentary…that “world of capital.”

Uranium One Inc., the second largest uranium mining company in Canada, is reportedly being taken over by ARMZ, a division of the Russian State Corporation Rosatom (Russian State Atomic Energy Corporation).

For 51 percent of the stock of Uranium One, ARMZ, Rosatom, will pay Uranium One $610 million U. S. dollars and the controlling (or 50 per cent) interest in two Kazakhstan uranium mines.

The CEO of Uranium One, Jean Nortier, referred to this as a “shift to Russian-style Capitalism.”

If this Uranium One/Rosatom deal goes to completion, as reported, then a uranium project, Honeymoon Well, in South Australia scheduled to be in production by the end of 2010 will also be under the control of the Russian Government. Uranium One owns 51 per cent of Honeymoon Well…………The London newspaper, Globe and Mail, on June 27 stated it best in saying, “The prospect of Kremlin control of the Canadian company left many investors worried that Uranium One would be pressured to serve Russian strategic interests that do not necessarily deliver the best returns…” and “alarmed industry observers worried that the Vancouver-based company might end up serving the Kremlin’s strategic interests.”

The spot price of uranium reacted to this news by falling in price.

Posted in economics, Rosatom, Uranium One | Leave a Comment »

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