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Uranium Resources Inc. (URRE) filed Quarterly Report for the period ended 2011-09-30.
Uranium Resources Inc. has a market cap of $101.01 million; its shares were traded at around $1.08 with and P/S ratio of 21.62.
This is the annual revenues and earnings per share of URRE over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of URRE.
Highlight of Business Operations:
In March 2006 we entered into new sales contracts with Itochu Corporation (“Itochu”) and UG U.S.A., Inc. (“UG”) that superseded the previously existing contracts. Each contract provides for delivery of one-half of our actual production from our properties in Texas currently owned or hereafter acquired by the Company (excluding certain large potential exploration plays). Any uranium to be produced from the Los Finados project will not be subject to the terms of the Itochu and UG sales contracts. The Itochu contract contains separate pricing terms for the Vasquez property that are no longer applicable since Vasquez has reached the end of its useful life. Our Texas production will be sold to Itochu at a price equal to the average spot price for the eight weeks prior to the date of delivery less $7.50 per pound, with a floor for the spot price of $37 per pound and a ceiling of $43 per pound. If the spot price is over $50 per pound the price will be increased by 50% of such excess. The floor and ceiling and sharing arrangement over the ceiling applies to 3.65 million pounds of deliveries, after which there is no floor or ceiling. Itochu has the right to cancel any deliveries on six-month’s notice. Uranium deliveries from the inception of the contracts through September 30, 2011 have totaled approximately 510,000 pounds to Itochu and 480,000 pounds to UG.Basic earnings per share includes no dilution and is computed by dividing income or loss attributed to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if stock options or warrants were exercised or converted into common stock. Potentially dilutive shares of 4,742,573 were excluded from the calculation of earning per share because they were anti-dilutive due to our net loss position for the nine months ended September 30, 2011.
Cost of Uranium Sales. While we had no uranium production in the first nine months of 2011 or 2010, we have maintained stand-by, maintenance and restoration activities at our South Texas projects and as a result have incurred operating costs that are classified “cost of uranium sales” on our financial statements. Our cost of uranium sales in the first nine months of 2011 was $2,235,000 compared with $1,733,000 in the same period of 2010. Total cost of uranium sales includes operating expenses, depreciation and depletion expenses, amortization of our restoration and reclamation cost estimates, impairment of uranium properties and exploration costs incurred.
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