UEX Corp T.UEX

Cameco''s woes continue

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Anyone doubting the fact that we have hit the bottom in the spot uranium price should have a look at these two excerpts from a CBC news article on 6 Sept 07. 1."The firm initially said that its uranium hexafluoride conversion plant at Port Hope, Ont., would be shut for at least two months, but Cameco said there is not enough information to estimate when production will restart. The company said sufficient data to support an estimate is anticipated by early November." 2. "Elsewhere, at its northern Saskatchewan Cigar Lake mine, which flooded last year, the company said it will take six to 10 more weeks to pour cement and inject grout into the rock fall pile and up to the source of the water. Cameco said the effectiveness of the plug will not be known until dewatering is underway." Cameco will run out of UF6 inventory in the first quarter of 08. What will the utilities do then? Pray for another gift from the US DOE? Good luck with that. I can`t wait for this realization and panic buying to set in. This time it will be out of fear from the utilities and not greed from the speculators so should be much more powerful. Link to the full article:https://www.cbc.ca/money/story/2007/09/06/camecoporthope.html