Uranium Resources Inc. URRE filed Quarterly Report for the period ended 2010-03-31.
Uranium Resources Inc. has a market cap of $32.97 million; its shares were traded at around $0.58 with and P/S ratio of 7.06. URRE is in the portfolios of Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
Depreciation and Depletion. During the first quarter of 2010, we incurred stand-by depreciation and depletion expense attributable to our Rosita, Vasquez and Kingsville Dome projects of $197,000. During the same period in 2009, we incurred depreciation and depletion expense attributable to our Vasquez and Kingsville Dome production of $172,000 and $59,000 of stand-by depreciation and depletion.
In the first quarter of 2010, we had cash used in operations of $2.0 million. We used $176,000 in investing activities during the first quarter of 2010. We increased the collateral supporting our South Texas financial surety requirements by $16,000 and made additions to our South Texas and New Mexico property, plant and equipment of $160,000 during the quarter. These expenditures were primarily for land and mineral lease payments during the quarter.
In the first quarter of 2009, we had cash used in operations of $1.6 million. We used $214,000 in investing activities during the first quarter of 2009. We increased the collateral supporting our South Texas financial surety requirements by $43,000 and made additions to our South Texas and New Mexico property, plant and equipment of $171,000 during the quarter. These expenditures were primarily for land and mineral lease payments during the quarter.
We had $6.1 million in cash at year-end 2009 and had $3.8 million at the end of March 2010. As of December 31, 2009 the Company had sold its entire uranium inventory and as such, we do not expect any additional sales revenue or related cash inflows for the Company in 2010. We had targeted a $6 million annual burn rate, or $500,000 per month, for our core business operations as part of our cost reduction and cash conservation program which was put in place in late-2008 and
The spot market price for uranium has demonstrated a large range since January 2001. Prices have risen from $7.10 per pound at January 2001 to a high of $136.00 per pound in June 2007. The spot market price was $41.75 per pound as of April 26, 2010.
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Uranium Resources Inc. has a market cap of $32.97 million; its shares were traded at around $0.58 with and P/S ratio of 7.06. URRE is in the portfolios of Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
Operating Expenses. During the first quarter of 2010, operating expenses resulted from stand-by costs related to our Kingsville Dome, Vasquez and Rosita projects of $142,000 with such costs charged to operations. During the first quarter of 2009, operating expenses for Vasquez and Kingsville Dome production sold was $870,000. During this period we incurred approximately $39,000 of stand-by costs related to our Vasquez and Rosita projects with such costs charged to operations.Depreciation and Depletion. During the first quarter of 2010, we incurred stand-by depreciation and depletion expense attributable to our Rosita, Vasquez and Kingsville Dome projects of $197,000. During the same period in 2009, we incurred depreciation and depletion expense attributable to our Vasquez and Kingsville Dome production of $172,000 and $59,000 of stand-by depreciation and depletion.
In the first quarter of 2010, we had cash used in operations of $2.0 million. We used $176,000 in investing activities during the first quarter of 2010. We increased the collateral supporting our South Texas financial surety requirements by $16,000 and made additions to our South Texas and New Mexico property, plant and equipment of $160,000 during the quarter. These expenditures were primarily for land and mineral lease payments during the quarter.
In the first quarter of 2009, we had cash used in operations of $1.6 million. We used $214,000 in investing activities during the first quarter of 2009. We increased the collateral supporting our South Texas financial surety requirements by $43,000 and made additions to our South Texas and New Mexico property, plant and equipment of $171,000 during the quarter. These expenditures were primarily for land and mineral lease payments during the quarter.
We had $6.1 million in cash at year-end 2009 and had $3.8 million at the end of March 2010. As of December 31, 2009 the Company had sold its entire uranium inventory and as such, we do not expect any additional sales revenue or related cash inflows for the Company in 2010. We had targeted a $6 million annual burn rate, or $500,000 per month, for our core business operations as part of our cost reduction and cash conservation program which was put in place in late-2008 and
The spot market price for uranium has demonstrated a large range since January 2001. Prices have risen from $7.10 per pound at January 2001 to a high of $136.00 per pound in June 2007. The spot market price was $41.75 per pound as of April 26, 2010.
Read the The complete Report
