Seems high...
Here's how I got to that number:
1 ore can be used to make 8 depleted isotope cells
In a good breeder, you use one cell (2 cells over 1/2 cycle) to recharge 8, so you net 7 (87.5%)
That gives you 28MEU in a 4.00 eff reactor (plus the bonus EU from the breeder)
From what I can tell, you get 50% near-depleted cells back, and 87.5% again from breeding (43.75% for each use/recharge cycle)
After about 3 cycles of use/recharge, you only have a 50% chance of still having one of the 8 original cells left, but that gives this:
First charge/use cycle
7 cells
28,000,000 EU (4 eff reactor)
2nd cycle
3.0625 cells
12,250,000 EU
3rd cycle
1.33984375 cells
5,359,375 EU
4th cycle
0.586181641 cells
2,344,726.56 EU
Total from 4 generations: 47,954,101.6 EU
48MEU, plus the bonus from the breeder, per ore... that would mean my 100MEU CASUC reactor really is only burning about 2 ore per run. 
and people are saying that nuclear needs a buff? 
