{"id":1113734,"date":"2019-05-01T16:43:58","date_gmt":"2019-05-01T16:43:58","guid":{"rendered":"http:\/\/www.mining.com\/?p=985169"},"modified":"2019-05-01T16:43:58","modified_gmt":"2019-05-01T16:43:58","slug":"worlds-top-uranium-miner-cameco-swings-to-loss-in-first-quarter","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1113734","title":{"rendered":"World\u2019s top uranium miner Cameco swings to loss in first quarter"},"content":{"rendered":"

Canada\u2019s Cameco (TSX:CCO)\u00a0(NYSE:CCJ), the world’s largest publicly traded uranium miner,\u00a0swung to a loss in the first three months of the year<\/a> despite seeing growing support for nuclear energy.<\/p>\n

The Saskatoon, Saskatchewan-based company logged a C$18.3 million loss in the first quarter of 2019, compared with a profit of C$57.8 million a year ago. That\u2019s equivalent to a decrease of five cents per share, versus a profit of 14 cents per share in the same quarter last year.<\/p>\n

“Make no mistake: there is still a long way to go before we decide to restart\u00a0McArthur River and Key Lake” \u2014\u00a0President and CEO, Tim Gitzel.<\/q><\/p>\n

\u201cWe see growing support for nuclear, and with more than 50 reactors under construction, demand is certain and predictable,\u201d the company\u2019s president and CEO, Tim Gitzel, said in the statement. \u201cHowever, supply is uncertain and declining.\u201d<\/p>\n

Gitzel noted the current supply\/demand imbalance was benefitting the company, as it has started off-market talks with some of its best and largest customers about what it takes to support the operation of its main assets \u2014 McArthur River and Key Lake \u2014 longer term.<\/p>\n

Cameco indefinitely\u00a0shut\u00a0last year its flagship McArthur River mine<\/a>\u00a0\u2014 the world’s biggest \u2014 and also the Key Lake mill, which has helped the market.<\/p>\n

\u201cWhile we are encouraged by the contracting activity, make no mistake, there is still a long way to go before we decide to restart [them],\u201d Gitzel said.<\/p>\n

Cameco highlighted its win in the Canada Revenue Agency (CRA) case, in which the country\u2019s Tax Court ruled in favour of the miner for the 2003, 2005 and 2006 years. The company was awarded on Monday C$10.25 million<\/a> corresponding to legal fees incurred, plus an amount for disbursements, which is yet to be determined.<\/p>\n

The post World\u2019s top uranium miner Cameco swings to loss in first quarter<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The uranium producerlogged a C$18.3 million loss in the first quarter of 2019, compared with a profit of C$57.8 million a year ago. That’s equivalent to a decrease of five cents per share, versus a profit of 14 cents per share in the same quarter last year.<\/p>\n

The post World’s top uranium miner Cameco swings to loss in first quarter<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[647,1452,679,404,369,451,438],"tags":[25,303],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1113734"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1113734"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1113734\/revisions"}],"predecessor-version":[{"id":1113765,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1113734\/revisions\/1113765"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1113734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1113734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1113734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}