Uranium One gets financing, approval
Three-month TSX trading in Uranium One. Inc.
Shares of Uranium One Inc. edged up initially after the company reported a new credit deal, higher second-quarter production and permission to raise production at its Kazakhstan mine.
But by mid-afternoon, the stock had fallen 16 cents to $4.64.
The 52-week range is $3.04 to $15.45.
In a news release the company said:
The Bank of Montreal and Bank of Nova Scotia were willing to lend it $100 million US.Sales of uranium in the second quarter totalled about 311,000 kilograms, up 180 per cent from the same quarter in 2007.The Kazakhstan Ministry of Energy and Mineral Resources said the company's 70 per cent subsidiary, Betpak Dala, can increase production at South Inkai this year, pending a reserve approval by another government agency.Uranium One reported first-quarter revenue of $22.5 million, compared with $41.7 million a year earlier.
The company changed its name from sxr Uranium One Inc. in July 2007.
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