The Company began processing conventional ore at the White Mesa mill on April 28, 2008. Prior to that the Company was processing alternate feed material and produced 94,000 pounds U3O8 prior to beginning processing conventional ore. Production from conventional ore was 485,000 pounds U3O8 and 791,000 pounds U3O8 for the three months and year ended December 31, 2008. The Company also produced 973,000 pounds V2O5 in the fourth quarter and 1,223,000 pounds V2O5 for the year. For the year ended December 31, 2008, production costs for processing conventional ore totalled $65.86 per pound U3O8 and vanadium equivalent including $27.72 per pound amortization, depletion and depreciation.