Commodity prices have slumped and costs have escalated, squeezing the margins of major mining companies. Falling equities of junior miners have scared investors away along with the capital to keep themselves afloat. Necessity is the mother of invention, however, and many mining companies are learning that the key to survival is doing things differently.
Articles Tagged "Uranium One"
Uranium – The Billings Gazette announced that Uranium One (TSX:UUU) plans to lay off 26 workers at its Willow Creek Mine will be laid off at the end of June, as they are ceasing to drill new wells because of low uranium prices
Uranium – Mining Weekly reported that, despite an increase in first quarter production, Uranium One announced a $9.5 million net loss in Q1.
Uranium – Mining Weekly reported that Uranium One announced the appointment of Grier Colter as its new executive vice president and chief financial officer, and will take the place of Graham du Preez.
Uranium – Mining Weekly reported that Uranium One, which is currently in the process of being privatized by its largest shareholder, ARMZ, reported a fourth quarter net loss of $68.8 million after writing down its Mantra Resources investment.
Uranium – Reuters reported that Uranium One shareholders have approved the offer made by Russian uranium company ARMZ to take it private, in which the latter has agreed to pay C$1.3B.
Uranium – The ARMZ-Uranium One deal is yet another positive signal that industry heavies know the uranium market is at a bottom and the time is ripe for picking up assets.
As share prices stagnate on the back of tough markets, resources companies are trying new tricks to attract investor interest.
Uranium – This week, the Virginia General Assembly will take up proposed legislation to end the state's 31-year moratorium on uranium mining permits in what is expected to be a tight vote.
Uranium – Uranium One Inc. (TSX:UUU) announced that it has agreed to sell itself to JSC Atomredmetzoloto (ARMZ) and Effective Energy NV, its affiliate, for C$2.86 per share, which amounts to a total of C$1.3 billion. ARMZ already owns 51.4 percent of Uranium One's common shares.