* Adj share loss $0.02 vs consensus view $0.01 loss
* Revenue down 62 percent at $21.3 million
* Lowers 2010 production outlook
(In U.S. dollars)
TORONTO, Nov 13 Uranium One UUU.TO said on
Friday its third-quarter loss narrowed from a year earlier when
it included a massive writedown.
The Canadian company, whose main operations are in
Kazakhstan, posted a loss of $11.9 million, or 3 cents a share,
in the quarter ended Sept. 30. That compared with a loss of
$2.01 billion, or $4.30 a share, a year earlier, when the
company absorbed a $2.8 billion writedown on assets in the
United States and South Africa.
On an adjusted basis, the company posted a loss of 2 cents
Analysts polled by Thomson Reuters I/B/E/S had expected a
per-share loss of 1 cent, before items.
Revenue fell 62 percent to $21.3 million as uranium prices
dropped and the company sold less uranium.
The company said average total cash cost per pound sold
decreased to $15 per pound during the quarter, down from $17
per pound during the second quarter of 2009.
The company said its total attributable production outlook
for 2009 remains unchanged at 3.5 million pounds, but it
lowered its 2010 production to 6.8 million pounds from 7.5
million pounds, largely due to underperformance at its Kharasan
and a slower ramp-up at South Inkai.
The company agreed in June to sell a 17 percent equity
stake to Russia's state-owned Rosatom in exchange for a 50
percent holding in the Karatau mine in Kazakhstan.
It is also completing a C$270 million private placement
with Japanese investors Toshiba Corp (6502.T), Tokyo Electric
Power Co (9501.T) and the Japan Bank of International
(Reporting by Scott Anderson; Editing by Derek Caney)