Uranium One posts loss on higher costs TORONTO, May 10 (Reuters) Reporting by Euan Rocha; Editing by Lisa Von Ahn, Dave Zimmerman) – Uranium One (UUU.TO) reported a first-quarter net loss on Monday, citing falling revenues and higher operating expenses………. Revenue fell 17.4 percent to $35.5 million on lower sales volumes and a lower realized uranium price……..
Uranium One said two weeks ago that it had acquired a stake in uranium producer Paladin Energy (PDN.AX).
In the past year, Uranium One has sold shares to units of the governments of Russia and Japan. It also has close ties to the government of Kazakhstan, which is expected to supplant Canada as the world’s top producer of uranium this year.
However, doing business in Kazakhstan has been troubled.
A Kazakh government investigation last year into past uranium assets sales — including of a current Uranium One mine — prompted a sell-off in the company’s shares. (
