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Gold/Mining/Energy : Uranium Stocks

URNM 54.44

+2.6%

4:00 PM EST

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To: 4C who wrote (6737)	1/14/2007 10:18:57 PM
From: Proud Deplorable	Read Replies (1) of 30169

Cigar Lake remediation progress report 07 January 2007 Cameco Corp has delivered a progress report on its Cigar Lake uranium workings after a water inflow in October flooded the project. Drilling crews have completed one hole in the area of the rockfall and had nearly completed another hole of the 18 now planned, including four for mine dewatering. “Drilling through the Athabasca sandstone has been more challenging than anticipated,” said Terry Rogers, Cameco's senior vice-president and chief operating officer. “However, the experience we gain in the first few holes is expected to accelerate progress in the future.” The first phase of the remediation plan involves drilling holes down to the source of the inflow before concrete is pumped in and sealed off with grout. With the first concrete pour due this month Rogers added: “We will be in a better position to estimate when we expect the first phase to be completed after the first concrete is poured.”

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