Uranium Participation Corporation Reports Net Losses of $20 Million

Uranium Participation Corporation (TSX:U) announced their financial results for the three months ended May 31, 2013.

As quoted in the press release:

Net losses incurred of $20.0 million for the three months ended May 31, 2013 (May 31, 2012: net income of $27.4 million) was primarily due to unrealized losses on investments of $19.1 million (May 31, 2012: unrealized gains of $29.5 million) a result of the decline in U₃O₈ and UF₆ spot prices, offset by an increase in foreign exchange rates in the period.

To view the whole press release, click here.