Operating expenses rise at Uranium Resources during 3Q
Uranium Resources, a Texas-based in-situ uranium miner, says that cost increased in 3Q due to challenging drilling conditions and higher equipment costs.
"This resulted in fewer than desired drilled holes and about two additional months of exploration time,” said Don Ewigleben, President and CEO of Uranium Resources in a statement.
Operating expenses were $133,753 for 3Q compared with $67,260 in 2010.
The overall loss from operations was $2,827,097, down from $3,730,998 a year ago when the company had a $1.37 million provision for a legal settlement.