Cameco sees Cigar Lake production delay, shares still higher

Uranium miner Cameco (CCJ +1.7%) is higher despite reporting that ore from its Cigar Lake mine in Saskatchewan would not be milled until early 2015 instead of before the end of 2014, due to problems freezing the ground.

CCJ freezes the mine's ore zone and surrounding ground to prevent water from flooding production areas, but it says freezing has not advanced as quickly as expected.

Uranium/nuclear names are broadly higher after two of Japan's nuclear reactors received clearance to re-start: USU +8.2%, DNN +3.3%, URG +3.2%, URRE +1.6%, BWC +1%, URS +0.3%, LTBR flat.

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Comments (2)
  • Capitano 1
    , contributor
    Comments (4) | Send Message
    With this extremely low spot market price uranium mining companies are not interested to accelerate production.
    16 Jul 2014, 12:40 PM Reply Like
  • atrickpay
    , contributor
    Comments (504) | Send Message
    why is usu spiking today? +35%
    17 Jul 2014, 10:33 AM Reply Like
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