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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (36820)	11/10/2017 7:34:08 AM
From: Goose94	Read Replies (1) \| Respond to of 203376

Cameco (CCO-T) is not planning further cuts to uranium output "right now." Cameco will suspend production for 10 months at McArthur River in Saskatchewan and the nearby Key Lake mill by the end of January because of low price. Chief executive officer Tim Gitzel says: "We don't foresee any other moves but that can always change. We have to be ready if the market stays low so we can survive and be viable." He says earlier curtailments had little effect on utilities' appetite to sign new contracts. Cameco's move leaves it with only its Cigar Lake mine in Saskatchewan and the Inkai mine in Kazakhstan producing significant volumes. Under its contracts, Cameco has sold an average of 26 million pounds annually during the next five years. Even so, Mr. Gitzel says cutting production further "is an option," because it is cheaper for Cameco to buy uranium on the market than to produce it itself. BMO's Alexander Pearce says Cameco's cut represents 12 per cent of expected global production in 2018 and "sends a strong message to utilities that future supplies are by no means