VANCOUVER, BC, AND JOHANNESBURG, SOUTH AFRICA, Jan. 10 /CNW/ - Uranium
One Inc. today announced record production and sales for the fourth
quarter and for the full year 2010.
Attributable production for 2010 increased by 106% to 7.4 million pounds
of U3O8, compared to 3.6 million pounds produced in 2009. During the fourth
quarter of 2010, attributable production was 2.1 million pounds U3O8, a 75% increase compared to 1.2 million pounds produced during the
fourth quarter of 2009 and a 24% increase compared to 1.7 million
pounds produced in the third quarter of 2010.
A breakdown of Uranium One's attributable production for the fourth
quarter and for the full year 2010 is shown below.
Table 1 - Uranium One Attributable Production (million pounds U3O8)
Fiscal Year 2010
Total Attributable Production
In addition, attributable production from the newly acquired Akbastau
and Zarechnoye mines from December 27, 2010 to the end of the year was
approximately 34,000 pounds of U3O8.
Attributable sales for the full year 2010 were 6.9 million pounds of U3O8, representing a 116% increase compared to 2009 attributable sales of
3.2 million pounds U3O8.
During the fourth quarter of 2010, the attributable sales volume was 2.9
million pounds U3O8, representing a 93% increase in sales compared to 1.5 million pounds
during the fourth quarter of 2009 and a 71% increase compared to 1.7
million pounds sold during the third quarter of 2010.
About Uranium One
Uranium One is one of the world's largest publicly traded uranium
producers with a globally diversified portfolio of assets located in
Kazakhstan, the United States, and Australia.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
Forward-looking statements: This press release contains certain
forward-looking statements. In certain cases, forward-looking
statements can be identified by the use of words such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes" or variations of such words and phrases, or
state that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements
of Uranium One to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
statements. Such risks and uncertainties include, among others, the
completion of the transactions in which Uranium One is engaged or
expects to be engaged, the future steady state production and cash
costs of Uranium One, the actual results of current exploration
activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, possible variations in
grade and ore densities or recovery rates, failure of plant, equipment
or processes to operate as anticipated, accidents, labour disputes or
other risks of the mining industry, delays in obtaining government
approvals or financing or in completion of development or construction
activities, risks relating to the integration of acquisitions and the
realization of synergies relating thereto, to international operations,
to prices of uranium as well as those factors referred to in the
section entitled "Risk Factors" in Uranium One's Annual Information
Form for the year ended December 31, 2009 and Management Information
Circular dated August 3, 2010, each of which is available on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this document.
Although Uranium One has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Uranium One expressly disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except in accordance with applicable securities laws.
For further information about Uranium One, please visit www.uranium1.com
SOURCE Uranium One Inc.
For further information:
Chief Executive Officer
Tel: +1 604 601 5642
Executive Vice President, Corporate Development & Investor Relations
Tel: +1 416 350 3657