The Globe and Mail reported that Cameco Corp. will start mining in its Cigar Lake Uranium project by mid-2013. Cigar Lake is the second biggest high grade uranium deposit in the world and was discovered over 30 years ago.
Cameco (TSX:CCO, NYSE:CCJ) announced its fourth quarter and 2012 financial results, with a $266 million net earnings for the full year. The company has achieved its annual sales targets for the fourth quarter and has exceeded its annual production target.
Leader-Post reports mining at Cigar Lake is set to resume despite challenges. But Cameco Corp., the operator and 50-per-cent owner of the Cigar Lake mine, believes it can see light at the end of the tunnel. For complete story, click here.
With known uranium resources of 499,000 tonnes of U3O8, as well as increasing exploration projects on the horizon, Canada is certain to maintain a significant role in meeting future global demand.
Troubles at Cigar Lake continue to be a thorn in the side for Cameco; the military junta leading uranium-rich Niger has sacked the heads of state-owned companies; and the Mongolian Saga isn’t over for Khan Resources yet.
FP reports Cameco’s recent technical report released and its continued saga with Cigar Lake . “While the company had recently disclosed a revised capital-cost estimate of around $1-billion and a revised startup timeline of 2013, the technical report disclosed higher than forecast life-of-mine cash operating costs of $23 per pound (up from $14/lb) and a relatively slow production ramp-up [...]
With the spot price of uranium at a low $40 per pound, those in the industry are eyeing current supply/demand trends for an indication of whether we’re at a bottom and when prices might rebound.
By Melissa Pistilli-Exclusive to Uranium Investing News Cameco Corp: Cigar Lake Update Cameco Corp [TSX: CCO] reported last week that it expects development work on its Athabasca Basin Cigar Lake uranium mine to resume this year. The Saskatchewan-based miner had originally planned to start production at the mine in 2008, but a rock fall brought [...]
Canadian Mining Journal(Editorial) reports Cameco has resumed dewatering the Cigar Lake uranium project. Development was interrupted by an inflow of water on the 420-metre level that occurred on August. 12, 2008. Cameco expects dewatering the mine will take six to 12 months. An estimated production start date will be given after the water has been pumped [...]
World Nuclear News reports Cameco completes the bought deal public offering yesterday. On 18 February, Cameco said that it had entered into an agreement with a syndicate of underwriters, led by BMO Capital Markets and RBC Capital Markets, who had agreed to purchase 23,188,400 Cameco common shares on a bought deal basis at a price [...]
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