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Mining Weekly reported that Uranium One, which is currently in the process of being privatized by its largest shareholder, ARMZ, reported a fourth quarter net loss of $68.8 million after writing down its Mantra Resources investment.
Mining Weekly reported that Uranium One, which is currently in the process of being privatized by its largest shareholder, ARMZ, reported a fourth quarter net loss of $68.8 million after writing down its Mantra Resources investment.
As quoted in the market news:
The uranium miner said it wrote down the value of its investment in Mantra by $102.3-million as a result of delays in the expected initial production, mainly from permitting delays at Mantra’s Mkuju River project, increased capital expenditure experienced in the industry, and lower uranium prices led to the write down.