UPDATE: U3O8 Corp. Gains 7% As Confirms Positive Economics on Berlin Deposit

By Midnight Trader, December 13, 2012, 09:44:33 AM EDT

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U3O8 Corp. (UWE.TO) reported a "positive" Preliminary Economic Assessment (PEA) on its flagship Berlin Project in Colombia.

Highlights:

- Base case pre-tax net present value at a 10% discount is $181 million

- Revenue of ~$430 per tonne of mineralized material against an operating cost of $240/t

- Average 1.2 million pounds of uranium produced annually over a 15-year mine life from a 500,000t per year underground mine

UWE rose nearly 7% to 24 cents after the announcement, moving further away from year low 19 cents.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing, Commodities

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