Clock - Uranium Supply Crunch and Critical ... - Andrew Johns

Uranium Canada Research | Page 67 of 87Exhibit 78: Financial StatementsUS$000s (Fiscal year-end Dec-31) 2011A 2012E 2013E 2014EIncome StatementRevenue 530,400 588,897 790,731 996,891Operating Expenses (142,600) (180,183) (251,395) (274,493)SG&A, Forex (53,400) (69,700) (57,537) (67,845)Mineral Write-offs 0 0 0 0Other (15,800) 1,000 0 0EBITDA 318,600 340,014 481,799 654,553DD&A (125,200) (123,946) (167,739) (205,749)EBIT 193,400 216,067 314,060 448,804Interest income (expense) (42,100) (47,980) (65,765) (72,940)Tax recovery (expense) (62,900) (54,462) (85,834) (109,933)Net Income 88,400 113,626 162,461 265,931Weighted Avg. S/O ('000s) 957,200 957,040 957,040 957,040Adjusted EPS (US$/sh; basic) 0.11 0.13 0.17 0.28Cash FlowOperating 169,700 302,122 337,650 479,130Investing (160,900) (384,559) (1,054,661) (325,489)Financing 287,300 22,700 410,000 0Net Change in Cash (net FX) 294,600 (60,837) (307,011) 153,641CFPS (US$/sh; w/o WC) 0.18 0.32 0.35 0.50Cash (EOP) 619,000 558,163 251,152 404,792Balance SheetCurrent Assets 849,900 813,363 506,352 659,992Non-current Assets 2,453,400 2,720,113 3,607,035 3,726,775Total Assets 3,303,300 3,533,476 4,113,386 4,386,767Current Liabilities 135,000 147,600 147,600 147,600Non-current Liabilities 1,174,700 1,262,800 1,672,800 1,672,800Total Liabilities 1,309,700 1,410,400 1,820,400 1,820,400Deficit, other comp income (loss) (3,524,800) (3,411,174) (3,248,714) (2,982,783)Shareholder Equity 5,518,400 5,534,250 5,541,700 5,549,150Total Liabilities + Equity 3,303,300 3,533,476 4,113,386 4,386,767Source: Raymond James Ltd., Uranium One Inc.Raymond James Ltd. | 2200 – 925 West Georgia Street | Vancouver BC Canada V6C 3L2