Uranium One, the world’s largest publicly-traded uranium producer, reported on Tuesday a net loss of $142.8 million in the fourth quarter. In 2009 the company reported positive earnings of $179.8 million for the same period.
The loss was attributable to a one-time charges. The company said that the carrying value of the Honeymoon Uranium Project was written down by $113.5 million due to the strengthening of the Australian dollar and increased capital expenditures.
Total attributable production was up 106% for all of 2010, 7.4 million pounds last year compared to 3.6 million pounds in 2009.
Toal cash cost per pound sold dropped to $13 per pound in 2010 from $16 in 2009.
On the Toronto Stock Exchange, the company’s shares were down 3 percent from yesterday’s close to $6 a share.
Uranium One has projects in Kazakhstan, the United States and Australia.
Michael Allan McCrae wrote this story. You can contact him at [email protected] or@michaelmccrae.
