RE: The uranium industry is reeling
The mine IS not lost. It justs needs lots and lots of money to develop.
This will mean high U prices. The insiders know that without high prices CCO will not undertake betting the company on re-developing CL. Low prices will translates into a squeeze on supplies.
Of course, worst case, NO amount of money can save CL. It might just be to expensive to mine. Would not be the first. CCO thought that using the most advanced underground mining techniques, they could econonmically mine this rich ore body.
The risks of underground mining are always high. CL is a glaring example of these risks. Luckly only one person has died. But to go forward will require taking even more risks then so far seen.
But to do this will require high prices for many years. Only will continuous quarters of higher profits bring CL back online by the owners.
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