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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Seeker of Truth who wrote (55946)	11/15/2004 7:02:04 AM
From: TobagoJack	Read Replies (2) \| Respond to of 74559

That is a good story, and if true, worthwhile to turn boat 180 degrees. Thanks, Jay

To: Seeker of Truth who wrote (55946)	11/15/2004 10:09:32 PM
From: Taikun	Read Replies (2) \| Respond to of 74559

According to National Bank analyst reports I have, Cameco investors should not think about factoring in removal of hedges until mid-2005 since: 1. Remaining hedges (ie through 2005) are pre-sold at caps of $12-14/lb 2. New production coming onstream will not materially affect results before 2006. The two stories in the National Post, quoting other analysts, last week had discussions about Cameco's earnings increasing in 2006, concurring with National Bank. I think $130 or $140 is rather exuberant given the U price has been flat at $20.25/lb for about three weeks now. I wonder how the Canadian dollar appreciation will affect earnings since most operations are in Canada but U is priced in USD? WTHDIK David