Cameco Ord Shs T.CCO

Alternate Symbol(s): CCJ

Energy

Cameco Corporation is engaged in providing uranium fuel to generate clean, reliable baseload electricity around the globe. The Company also offers nuclear fuel processing services, refinery services and manufactures fuel assemblies and reactor components. Its segments include uranium, fuel services and Westinghouse. The uranium segment is involved in the exploration for, mining, milling, purchase and sale of uranium concentrate. The fuel services segment is involved in the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services. The Westinghouse segment is engaged in the nuclear services businesses. Its uranium projects include Millennium, Yeelirrie, and Kintyre. The Cree Extension-Millennium project is a Cameco-operated joint venture located in the southeastern portion of Canada's Athabasca Basin. The Yeelirrie deposit is located approximately 650-kilometer (Km) northeast of Perth and about 750 km south of its Kintyre project.

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Post by retiredcfon Jan 17, 2024 9:31am

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Post# 35830908

RBC

January 16, 2024

RBC Uranium Watch
Uranium rises higher on Kazakh production warning

Our view: Uranium prices rose to the highest level since 2007, as supply concerns were top of mind, after Kazatomprom released production cuts for 2024 with risk to 2025 production targets (details here), while the potential for US sanctions on Russia may result in further disruptions to supply. On the news front, the UK announced plans to quadruple nuclear capacity to 24 GW, from 6 GW currently, with an aim to start construction on one to two new reactors every five years from 2030-2044. Separately, utility EDF announced plans to extend the life of four gas-cooled reactors in the UK that are currently set to retire in the mid-2020s. Last week, we published our Q1/24 Best Ideas with an overweight for the uranium sector (unchanged from Q4/23) and highlighting Cameco (TSX: CCO) and NexGen (TSX: NXE) as our best ideas in the sector.