Uranium One Announces 2016 Production of 12.7 Million Pounds at an Average Total Cash Cost of $9 per Pound Sold

Uranium (Nuclear Minerals) / Exploration, Mining, Marketing, & Acquisitions

Date posted: 03/12/17

Uranium One Inc.reported headline revenue of $314.6 million for 2016. Attributable revenue was $405.7 million for 2016 based on sales of 13.5 million pounds of produced material at an average realized sales price of $27 per pound sold of produced material, with an average cash cost per pound sold of produced material at $9 per pound. Attributable production for 2016 was 12.7 million pounds. Total attributable production during 2016 was 12.7 million pounds, compared with total attributable production of 12.5 million pounds during 2015. The average total cash cost per pound sold of produced material decreased to $9 per pound during 2016, compared to $11 per pound during 2015. Attributable sales volumes of produced material for 2016 were 13.5 million pounds sold from the Corporation operations and equity accounted investees compared to 12.3 million pounds sold during 2015. Headline revenue was $314.6 million in 2016, compared to $324.7 million in 2015. Attributable revenues consistent with the Corporation segment reporting, which includes revenues from its interests in equity accounted investees, amounted to $405.7 million in 2016, compared to $541.2 million in 2015. The average realized sales price of produced material during 2016 was $27 per pound, compared to $36 per pound in 2015. The average spot price in 2016 was $26 per pound compared to $37 per pound in 2015. Gross profit was $41.9 million during 2016, compared to gross profit of $4.4 million in 2015, including the Corporation share of gross profit from equity accounted investees, totaled $132.5 million in 2016, a 35% decrease compared to $204.5 million in 2015, mainly due to a decrease of 22% in the average realized sales price, partly offset by an increase of 10% in sales volume. Net earnings for 2016 were $252.6 million or $0.26 per share, compared to net earnings of $70.7 million or $0.07 per share for 2015. The adjusted net earnings for 2016 were $54.7 million or $0.06 per share.