Uranerz Announces Third Quarter Results, Posts Loss of $800,000

Uranerz Energy Corp. (NYSE MKT:URZ) announced a third quarter loss of $813,610 but reported its first uranium sales revenue in the company’s history. About 97,000 pounds of uranium were captured during the quarter with a revenue of $3.9 million.

According to the press release:

The Company intends to minimize sales in the spot market until prices improve; thus certain mine development activities are being managed to control costs and meet our commitments. It is expected that the Nichols Ranch processing facility will serve as a platform for the potential future development of the Company’s other Powder River Basin uranium properties allowing enhanced economics for adjacent and satellite projects.

Click here to read the press release.