February 14, 2017 / 7:16 PM / in a year

BUZZ-Uranium Resources Inc: FY loss narrows

** Uranium producer’s shares rise as much as 12 pct to $2.64, stock’s 3rd straight day of gains

** Net loss per share for 2016 narrows to $3.73/shr from $5.63/shr in 2015, when it reported a one-time gain of $4.3 mln; 2016 includes a non-cash loss on extinguishment of debt of $3.3 million [bit.ly/2kGTv4v ]

** Company says it owed $0.6 million to its creditors as of Dec. 31, much lower than the $3 mln it reported last year

** URRE said in a regulatory filing on Feb. 9 that its board had agreed to pay off a $5.5 mln loan obligation

** 3-day rally has lifted co’s market value by about 25 pct

** U.S.-listed shares of larger rival Cameco Corp also rose for the third day after BMO raised the stock to “outperform” from “market perform”

** Spot uranium dropped to a 12-yr low in 2016, but has surged in recent weeks due to an output cut and U.S. President Trump’s remark on nuclear expansion

** URRE’s stock almost doubled, following Kazakhstan’s announcement of an output cut on Jan. 10, that took spot uranium to 4-month highs

** Up to Monday’s close, URRE’s stock had risen about 71 pct in the last 12 months

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