Seeking Alpha

Uranium Resources +11% on accounting, cost-cutting update

  • Uranium Resources (URRE +11.2%) shares are soaring on news late yesterday that the company would revise how it describes a commercially mineable uranium deposit to comply with SEC rules; as a result, URRE says it will no longer disclose pounds of mineralized uranium material contained in the ground.
  • URRE also said its cost-cutting efforts have reduced its burn rate by an average of $300K/month.
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