FP says Cameco "very bullish"Just remember that when Uranium was over $100 per pound this stock was trading over 0.25 cents. That was based solely on the uranium property up north.....they still have it and all the gold properties as well. Think about it???....0.06 cents?? I don't understand the current valuation on this stock. Can anyone help me on this one.
Cheers
FP says Cameco "very bullish" on uranium in long term
Ticker Symbol: C:CCO
FP says Cameco "very bullish" on uranium in long term
Cameco Corp(C:CCO)
Shares Issued 394,351,043
Last Close2/8/2011 $40.91
Wednesday February 09 2011 - In the News
TheFinancial Post reports in its Wednesday, Feb. 9, edition that VersantPartners analyst Rob Chang says a new uranium supply deal in Finlandbetween Cameco and Talvivaara Mining speaks volumes about where theCanadian uranium miner thinks prices are going. The Post's Peter Kovenwrites in the National Report column that Cameco agreed to buy theuranium produced by Talvivaara's Sotkamo nickel-zinc mine in Finlanduntil 2027, and will also provide an upfront payment of up to$60-million (U.S.) to build the uranium circuit at the project. Camecotypically prices sales contracts using a 40/60 ratio of fixed prices andspot prices. Given that the uranium spot price is currently a robust$73 (U.S.) a pound, Mr. Chang says this deal suggests Cameco is "verybullish" on long-term prices. By comparison, its cash costs in the firstnine months of 2010 were only $22.45 (U.S.) a pound. BMO CapitalMarkets analysts David Cotterell and Edward Sterck say the agreement is apositive move for Talvivaara.Cameco stock gave back three Canadian cents to finish on the TorontoStock Exchange Tuesday at $40.91 (Canadian). The stock has a one-yearrange of $21.64 (Canadian) to $43.60 (Canadian).
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