| Tue 11 Jan 2011, 9:29 | | UUU - Uranium One Inc - News Release |
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UUU - Uranium One Inc - News Release
Uranium One Inc
(Incorporated in Canada)
(Registration number: 15096422420)
Share code on the JSE: UUU & ISIN: CA91701P1053
Share code on the TSX: UUU & ISIN: CA91701P1053
News Release
January 11, 2011
Uranium One Announces Record Production and Sales
for the Fourth Quarter and Full Year 2010
Vancouver, British Columbia and Johannesburg, South Africa - Uranium One Inc.
today announced record production and sales for the fourth quarter and for
the full year 2010.
Production
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)
Mine Q4 2010 Fiscal Year 2010
Akdala 0.5 1.9
South Inkai 0.8 3.1
Karatau 0.7 2.2
Kharasan 0.1 0.2
Total Attributable 2.1 7.4
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.
Sales
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.
For further information, please contact:
Jean Nortier
Chief Executive Officer
Tel: +1 604 601 5642
Chris Sattler
Executive Vice President, Corporate Development & Investor Relations
Tel: +1 416 350 3657
Cautionary Statement
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
Sponsor
Nedbank Capital
11 January 2011
Date: 11/01/2011 09:29:01 Produced by the JSE SENS Department.
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