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TheStreet Open House

Uranium Resources Provides First Quarter 2013 Update

TABLES FOLLOW.

URANIUM RESOURCES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
     
  March 31, December 31,
  2013 2012
Current assets:    
Cash and cash equivalents  $ 4,350,219  $ 4,664,596
Receivables, net 276,801
Prepaid and other current assets 452,961 431,427
Total current assets 4,803,180 5,372,824
     
Property, plant and equipment, at cost:    
Uranium properties 107,963,263 107,672,404
Other property, plant and equipment 1,365,055 1,360,598
Less-accumulated depreciation, depletion and impairment (65,404,296) (65,318,921)
Net property, plant and equipment 43,924,022 43,714,081
     
Long-term investment:    
Certificates of deposit, restricted 9,497,497 9,491,865
Total Assets  $ 58,224,699  $ 58,578,770
Current liabilities:    
Accounts payable  $ 1,134,536  $ 1,331,888
Note payable 5,000,000
Current portion of asset retirement obligations 1,003,049 1,160,378
Royalties and commissions payable 665,745 665,745
Accrued interest and other accrued liabilities 746,474 859,981
Current portion of capital leases 78,980 112,140
Total current liabilities 3,628,784 9,130,132
     
Asset retirement obligations 3,375,957 3,337,679
Other long-term deferred credits 500,000 500,000
Long term capital leases, less current portion 10,972 17,582
Long-term debt, less current portion 450,000 450,000
Total liabilities 7,965,713 13,435,393
Shareholders' equity:    
Common stock, $.001 par value, shares authorized: 200,000,000; shares issued and outstanding (net of treasury shares): 2013—19,821,681; 2012—16,150,163 19,825  16,154
Paid-in capital 216,601,079 207,338,549
Accumulated deficit (166,352,500) (162,201,908)
Less: Treasury stock (3,813 shares), at cost (9,418) (9,418)
Total shareholders' equity 50,258,986 45,143,377
Total liabilities and shareholders' equity  $ 58,224,699  $ 58,578,770
 
URANIUM RESOURCES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS 
(Unaudited)
     
  Three Months Ended
  March 31,
  2013 2012
Revenues:    
Uranium sales $ — $ —
Total revenue
Cost of uranium sales:    
Operating expenses 687,217 220,408
Accretion/amortization of restoration reserve 97,435 23,119
Depreciation and depletion 75,899 116,322
Impairment of uranium properties 279,429 268,923
Exploration and land maintenance expenses 98,905 26,715
Total cost of uranium sales 1,238,885 655,487
Loss from operations before corporate expenses   (1,238,885)   (655,487)
     
Corporate expenses—    
General and administrative 2,635,236 3,013,136
Depreciation 45,979 31,884
Total corporate expenses 2,681,215 3,045,020
Loss from operations   (3,920,100)   (3,700,507)
     
Other income (expense):    
Interest expense (239,718) (3,547)
Interest and other income, net 9,226 97,584
Net loss  $ (4,150,592)  $ (3,606,470)
     
Net loss per common share:    
Basic  $ (0.24)  $ (0.37)
Diluted  $ (0.24)  $ (0.37)
     
Weighted average common shares and common equivalent shares:    
Basic 17,308,089 9,804,690
Diluted 17,308,089 9,804,690
 
URANIUM RESOURCES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS 
(Unaudited)
     
  Three Months Ended
  March 31,
  2013 2012
Operating activities:     
Net loss  $ (4,150,592)  $ (3,606,470)
Reconciliation of net loss to cash used in by operations—    
Accretion/amortization of restoration reserve 97,435 23,119
Depreciation and depletion 121,878 148,206
Impairment of uranium properties 279,429 268,923
Decrease in restoration and reclamation accrual (489,153) (430,185)
Stock compensation expense 244,985 192,818
Other non-cash items, net 609
Effect of changes in operating working capital items—    
(Increase) decrease in receivables 276,801 (280,911)
Increase in prepaid and other current assets (21,534) (12,952)
Increase in payables, accrued liabilities and deferred credits 76,474 1,157,389
Net cash used in operations (3,564,277) (2,539,454)
     
Investing activities:    
Increase in certificates of deposit, restricted (5,632) (36,474)
Increase in notes receivable  (917,457)
Additions to property, plant and equipment—    
Kingsville Dome (6,646) (87,232)
Rosita/Rosita South (4,624) (12,936)
Churchrock (48,042) (547,120)
Crownpoint/Section 13 Drilling (41,486) (155,964)
Juan Tafoya (72,148)
Other property (165,635) (161,369)
Net cash used in investing activities (344,213) (1,918,552)
     
Financing activities:    
Payments on borrowings (39,770) (15,638)
Issuance of common stock, net 3,633,883 11,490,753
Net cash provided by financing activities 3,594,113 11,475,115
Net increase (decrease) in cash and cash equivalents (314,377) 7,017,109
Cash and cash equivalents, beginning of period 4,664,596 2,890,263
Cash and cash equivalents, end of period  $ 4,350,219  $ 9,907,372
CONTACT: Investor Contact:
         Deborah K. Pawlowski
         Kei Advisors LLC
         716.843.3908
         dpawlowski@keiadvisors.com
         
         Media Contact:
         Mat Lueras
         Vice President, Corporate Development
         505.269.8317
         mlueras@uraniumresources.com

Uranium Resources, Inc.

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