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Uranium Price

Highlights

Three Months Ended

Nine Months Ended

Sept 30/98

Sept 30/97

Sept 30/98

Sept 30/97

Financial (in millions) (unaudited)

Revenue

$203

$187

$492

$463

Earnings from operations

113

Net earnings

Cash provided by operations

(15)

Working capital (end of period)

257

295

257

295

Per common share

Net earnings

$0.32

$0.39

$0.97

$1.19

Cash provided by operations

(0.28)

0.87

1.16

1.01

Dividend

0.125

0.125

0.375

0.375

Weighted average number of paid common shares outstanding (in thousands)

57,306

54,313

57,261

53,484

Average uranium spot price for the period (US$/lb)

$10.20

$10.52

$10.77

$11.93

Note:	Currency amounts are expressed in Canadian dollars unless stated otherwise.

	The financial results include Uranerz Exploration and Mining Limited and Uranerz U.S.A., Inc. as of the date of acquisition (August 11, 1998).