Monday, April 03, 2006

Apr 3 Uranium Stocks Update: sxr Uranium One (TSE:SXR)

SXR Uranium One (SXR.TO)

(1) Fidelity owns 11.58% of SXR shares, reported at the end of February. Obviously they think SXR.TO is a good uranium investment as well.

(2) SXR came out with year-end financials. Loss of $42 million but $13 million of it was a one-time write off of an earlier deal with Rangold which still has $10 million in cash value or so. For a uranium company that just raised >$100 million in cash, I'm not too worried.

(3) Looking inside their MD&A, Uranium had this to say

"Uranium One’s cash position is sufficient to fund the completion of the Dominion feasibility study and, subject to the outcome of that study, the construction of all or substantially all of the Dominion Project. Additional financing would be required to construct the Honeymoon Project and for other corporate development activities which may be undertaken."

I wonder if SXR might sell Honeymoon and concentrate on the 2 million uranium oxide lb/year Dominion mine. Might not be a bad idea, but either way, this uranium company is giving every indication that it will be able to produce uranium in early 2007.


Blogger charlottebandit said...

Here's an excellent interview of SXR Uranium One by Mineweb from 4/6/06.

SXR Internew 4/6/06

8:23 AM  

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