BVI-registered Niger Uranium Ltd announced half year financial results

Niger Uranium Ltd, the company incorporated in the British Virgin Islands and formerly known as  UraMin Niger Limited, announced its unaudited interim financial results for the six month period ended 30 September 2010. The condensed consolidated statement of the BVI company for the six months period comprises both the results of the company and its subsidiaries.

In the reported period, total assets of Niger Uranium Ltd were US$13,5 million. Company’s profit before income tax was US$18,2 million. Basic earnings per share made $US 0.16, diluted earnings per share made $US 0.15. As of 30 September, 2010, company’s cash and cash equivalents made US$1,4 million.

Also, for the period ended 30 September 2010, company’s exploration activities were conducted in both South Africa and Niger, the investment activities were controlled in the British Virgin Islands and administration is conducted from the office in South Africa.

In November 2010, Niger Uranium sold the remaining stake of 2.768 million shares in Kalahari Minerals Plc at a gross selling price of 205p. From this sale,  the BVI company generated net proceeds of about US$ 9.051 million.

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