Cameco Corporation

Published : July 28th, 2016

Cameco Reports Second Quarter Financial Results

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Keywords :   Market Conditions | Uranium |

Cameco Reports Second Quarter Financial Results

SASKATOON, SASKATCHEWAN, CANADA -- (July 28, 2016)

  • Maintaining annual delivery and cost of sales guidance
  • Signed an agreement with Kazatomprom to restructure and enhance JV Inkai
  • Continued focus on controlling costs amid difficult market conditions

ALL AMOUNTS ARE STATED IN CDN $ (UNLESS NOTED)

Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the second quarter ended June 30, 2016 in accordance with International Financial Reporting Standards (IFRS).

'Our quarterly results were again influenced by a quiet market, as well as a number of notable and one-time items' said president and CEO, Tim Gitzel. 'However, our annual sales guidance and cost of sales expectations remain unchanged, our long-term contract portfolio continues to keep our average realized price above market prices, and we remain focused on controlling costs across the organization.

'Market conditions have become increasingly challenging over the past five years. Primary supply has simply not responded to decreased demand, and coupled with an abundance of secondary material available today, the uranium market continues to be oversupplied. As a result, prices have remained under pressure, and because we don't know how long the current weak conditions will persist, we must manage the company with that uncertainty in mind.

'Despite the current market challenges, we remain confident in nuclear power as an important part of the long-term global energy mix. Based on the reactor construction that is underway around the world today, we continue to expect uranium demand to increase in the long-term.'

Full news release is available for DOWNLOAD at right.

Read the rest of the article at www.publicnow.com

Cameco Corporation

PRODUCER
CODE : CCO.TO
ISIN : CA13321L1085
CUSIP : 13321L108
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Cameco is a uranium producing company based in Canada.

Cameco produces uranium, cobalt, copper, nickel and zinc in Canada, in Finland and in Kazakhstan, develops uranium in Australia and in Canada, and holds various exploration projects in Canada.

Its main assets in production are RABBIT LAKE, KEY LAKE, SMITH RANCH, CROW BUTTE, MCARTHUR RIVER (SASKATCHEWAN), MC ARTHUR RIVER and MCARTHUR RIVER MINE in Canada, INKAI and HIGHLAND in Kazakhstan and TALVIVAARA in Finland, its main assets in development are CIGAR LAKE and MILLENNIUM in Canada and KINTYRE in Australia and its main exploration properties are EAGLE POINT, DAWN LAKE, SMART LAKE, BOOMERANG and DAWSON in Canada.

Cameco is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 11.4 billions as of today (US$ 9.1 billions, € 8.0 billions).

Its stock quote reached its lowest recent point on December 26, 2003 at CA$ 10.02, and its highest recent level on May 16, 2022 at CA$ 28.76.

Cameco has 395 792 522 shares outstanding.

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TORONTO (CCO.TO)NYSE (CCJ)
28.76+1.09%22.19+0.82%
TORONTO
CA$ 28.76
05/16 12:55 0.310
1.09%
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Volume 1 month var.
764,164 -27.43%
24hGold TrendPower© : 24
Produces Cobalt - Copper - Nickel - Uranium - Zinc
Develops Uranium
Explores for Gold - Uranium
 
 
 
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