WUC just released its Q3 financials. Just less than a half million in cash, but a burn rate of $160k per month, trade accounts payable of $575k, accrued liabilities of $218k, and the Nueco ($189k) and Siebel ($108k) loans are both in default. In other words, WUC is insolvent.
At least two million needed to commence production, as well as a U term price of $45/lb., a new milling agreement with White Mesa, receipt of modified mining permits, and receipt of any required ablation licensing.
Tough few months ahead for Mr. Glasier, et al.
BLR Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
