at $0.53 per share. Along with the price, traded volume also jumped up to exceed 1 million shares for the day.As compared to URI’s average volume of 652 shares traded, its value from yesterday appears to be significant.
Historical data shows that the stock has traded higher over the past 12 months, when its price has reached $1.40 per share. While presently, it is approximately 60% lower. In June his year, there was a price jump to $0.70 per share, though after that the stock moved down again.[BANNER]
But what’s the reason for the latest high trade of URI?
The last announcements by the company were on its plan of action for the Churchrock project, however the operations have been scheduled for the first half of 2013. According to the report, URI is highly optimistic about its future production and revenues. Though, the results will not be released before 2013.
Two days ago, the company reported a teleconference and webcast on its second quarter results on 9 August this year. At the conference will be also discussed the stock offering that brought approximately $12 million to URI and its UIC permit.
Uranium Resources, Inc. is a uranium exploration, mine development and production company. By now, it has produced approximately 8 million pounds U3O8 from five Texas projects, two of which have been restored and returned to their owners.
According to its financial report, URI has had no uranium production and sales in the first quarter of this year. However, the company registered operating expenses and incurred approximately $39 thousand of stand-by costs and a $197 thousand stand-by depreciation and depletion expense.
URI has generated losses of over $2 million and made reductions in salary and payroll costs and obtained approximately 3 times lower cash flows as compared to the previous period.
Based on its negative financial results, the company’s current priority is to find additional capital for its operations. However, URI projected that: “with the cash on hand at March 31, 2010 and with significant additional reductions of our existing costs we will be able to maintain our liquidity until the first quarter of 2011”. After that, nobody can predict what is to follow.
