Uranium Resources provides Q3 updates; announces higher than expected Phase 1 expenses (URRE) 1.08 : As of October 31, 2011, a total of 16 holes have been drilled at an average depth of 1,300 feet each for a total cost of approximately $0.9 million. Cameco Texas (CCJ) will have earned a 40% interest in the project at the completion of Phase I, which requires a $1.0 million investment in exploration. This phase commenced in June 2011 and is expected to be completed in November 2011. "Challenging drilling conditions, coupled with higher equipment costs due to increased industry demand, caused Phase I expenses to be higher than anticipated. This resulted in fewer than desired drilled holes and about two additional months of exploration time." URI's cash balance at October 31, 2011, was $4.3 million.