Uranium One Announces Q3 2016 Production of 3.2 Million Pounds

Uranium One (TSX:UUU) has reported quarterly revenue of $97.4 million for the third quarter in 2016, with attributable revenue of $115.8 million based on sales of 3.7  million pounds of produced material.
As quoted in the press release:

Q3 2016 Highlights
Operational

• Total attributable production during Q3 2016 was 3.2 million pounds, compared with the total attributable production of 3.1 million pounds during Q3 2015.
• The average total cash cost per pound sold of produced material reduced to $7 per pound during Q3 2016, compared to $10 per pound during Q3 2015.

Financial

• Attributable sales volumes of produced material for Q3 2016 were 3.7 million pounds sold from the Corporation’s operations and equity accounted investees compared to 2.9 million pounds sold during Q3 2015.
• Headline revenue was $97.4 million in Q3 2016, compared to $84.1 million in Q3 2015.
• Attributable revenues consistent with the Corporation’s segment reporting, which includes revenues from its interests in equity accounted investees, amounted to $115.8 million in Q3 2016, compared to $120.3 million in Q3 2015.
• The average realized sales price of produced material during Q3 2016 was $30 per pound, compared to $36 per pound in Q3 2015. The average spot price in Q3 2016 was $25 per pound compared to $36 per pound in Q3 2015.
• Gross profit was $33.0 million in Q3 2016, compared to gross profit of $2.7 million in Q3 2015.
• Gross profit, including the Corporation’s share of gross profit from equity accounted investees, totaled $56.6 million in Q3 2016, a 11% increase compared to $51.2 million in Q3 2015, mainly due to increase of 28% in the sales volume, partly offset by a decrease of 17% in average realized sales price.
• The net earnings for Q3 2016 were $29.5 million or $0.03 per share, compared to net earnings of $0.6 million or $0.00 per share for Q3 2015.
• The adjusted net earnings for Q3 2016 were $28.5 million or $0.03 per share after exclusion of impairment of non-current assets of$5.0 million, loss on disposal of certain non-material US mineral claims and leases of $2.6 million, other expenses of $0.4 million, Ruble bond non-hedge derivative gains of $6.5 million and net foreign exchange gains of $2.5 million, compared to an adjusted net earnings of $13.2 million or $0.01 per share for Q3 2015.

Click here to read the full press release.