A majority of the production is attributable to South Inkai mine and Karatau mine, which accounted for the quarterly production of 796,900 pounds and 620,000 pounds, respectively.

However, revenue was down by 34.7% to $62.6m during the quarterly period compared to the $95.9m revenues reported in the similar period of 2012.

Further, the attributable sales volume decreased by 22%, to 1.4 million pounds of uranium ore during the first quarter of 2013 from 1.8 million pounds in 2012.

Also, Uranium One reported net loss of $9.5m, compared to net earnings of $4.5m for the first quarter of previous year 2012.

Meanwhile, during the quarter, the company obtained a three year, $1.45bn unsecured revolving credit facility with ARMZ at the interest rate of 3.3% per annum.

For the fiscals 2013 and 2014, the company is estimating a production of nearly 12.5 million pounds and 13.0 million pounds, respectively.