Net Asset Value(s)

 

TIDMUML 
 
RNS Number : 6856G 
Uranium Limited 
04 February 2010 
 

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE 
UNITED STATES, JAPAN OR AUSTRALIA 
 
Uranium Limited ("UL") reports its net asset value1 and adjusted net asset 
value2 at 31 January 2010 was GBP76,081,757 (US$122,619,447) or GBP1.84 per 
share (US$2.97 per share). Its diluted net asset value3 and adjusted diluted net 
asset value at 31 January 2010 was also GBP1.84 per share (US$2.97 per share). 
 
As at 31 January 2010, UL's investment portfolio consisted as follows: 
 
+-----------------------------+-----------+--------------+--------------+ 
| (in US dollars, except      | Quantity  |    Cost      |    Market    | 
| quantity amounts)           |           |              |    Value     | 
+-----------------------------+-----------+--------------+--------------+ 
|                             |           |              |              | 
+-----------------------------+-----------+--------------+--------------+ 
| Investments:                |           |              |              | 
+-----------------------------+-----------+--------------+--------------+ 
| Physical Uranium Holdings - | 1,725,000 |  $81,274,300 |  $73,096,875 | 
| U3O8                        |       lbs |              |              | 
+-----------------------------+-----------+--------------+--------------+ 
| Physical Uranium Holdings - |   412,000 |  $95,716,565 |  $48,204,000 | 
| UF6                         |      kg U |              |              | 
+-----------------------------+-----------+--------------+--------------+ 
|                             |           | $176,990,865 |$121,300,875  | 
+-----------------------------+-----------+--------------+--------------+ 
|                             |           |              |              | 
+-----------------------------+-----------+--------------+--------------+ 
| Average purchase/contracted |           |       $47.12 |       $42.38 | 
| cost and market value per   |           |              |              | 
| lb of U3O8                  |           |              |              | 
+-----------------------------+-----------+--------------+--------------+ 
 
+-----------------------------+---------+----------+----------+ 
| Average purchase/contracted |         |  $232.32 |  $117.00 | 
| cost and market value per   |         |          |          | 
| kg U of UF6                 |         |          |          | 
+-----------------------------+---------+----------+----------+ 
 
1 Net asset value equals the total assets of the Company, less its total 
liabilities (including accrued but unpaid fees) valued in accordance with the 
Company's accounting policies, namely that investments in U3O8 are valued at the 
average of (i) the month end UxC U3O8 spot price indicator (as published by Ux 
Consulting Company, LLC in its Ux Weekly publication) and (ii) the month end 
TradeTech U3O8 exchange value (as published by TradeTech, LLC in the Nuclear 
Market Review), ("the Average U3O8 Published Price"), and that investments in 
UF6 are valued at the average of (i) the month end UxC UF6 spot NA price and 
(ii) the month end TradeTech UF6 value, ("the Average UF6 Published Price"). 
 
2 Adjusted net asset value is equal to the net asset value adjusted to include 
the fair value of forward Uranium purchase and sales contracts entered into by 
the company with reference to the Average U3O8 Published Price and the Average 
UF6 Published Price. 
 
3 The Company has issued an option over 2,475,000 shares exercisable at any time 
(or times) during the period commencing on 21 July 2008 and ending on 21 July 
2011. The exercise price of the option is fixed at GBP2.05 per share.  For the 
purpose of calculating diluted net asset value it has been assumed that the 
option was exercised at the date of the valuation. Diluted NAV and diluted NAV 
per share are applicable only when the NAV per share is greater than the 
exercise price of the respective outstanding share options. 
 
4 All sterling amounts are translated at 31 January 2010 exchangerate of US$ 
1.61168. 
 
Uranium Limited is an investment company created to invest substantially all of 
its assets in natural Uranium with the primary investment objective of achieving 
capital appreciation in the value of its Uranium holdings. Additional 
information about Uranium Limited is available on SEDAR at www.sedar.com and on 
the company's website at www.uraniumlimited.com 
 
+-------------------------------+-------------------------------+ 
|                               |                               | 
| Canaccord Adams Limited,      | [phone]              | 
| NomAd and Broker              |                               | 
| Ryan Gaffney                  |                               | 
| Henry Fitzgerald-O'Connor     |                               | 
+-------------------------------+-------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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