RE:Interesting comment from Cameco CEO Tim Gitzel...That is almost exactly what Cameco said before the offer for Roughrider. Did you read the notes to the financials? Cameco had about $938K investments in equity securities at Dec 31st and $11.9 million at March 31st. I'm guessing they are buying NXE shares, not FCU shares. It appears to be "game on" and FCU will be left sitting on the shelf.
As at March 31, 2016
Fair value
Carrying value Level 1 Level 2 Total
Derivative assets [note 5]
Foreign currency contracts $ 53,453 $ - $ 53,453 $ 53,453
Interest rate contracts 10,837 - 10,837 10,837
Investments in equity securities [note 5] 11,943 11,943 - 11,943
Derivative liabilities [note 7]
Foreign currency contracts (50,295) - (50,295) (50,295)
Uranium contracts (18,509) - (18,509) (18,509)
Long-term debt (1,492,501) - (1,790,007) (1,790,007)
Net $ (1,485,072) $ 11,943 $ (1,794,521) $ (1,782,578)
As at December 31, 2015
Fair value
Carrying value Level 1 Level 2 Total
Derivative assets [note 5]
Foreign currency contracts $ 360 $ - $ 360 $ 360
Interest rate contracts 10,783 - 10,783 10,783
Investments in equity securities [note 5] 938 938 - 938
Derivative liabilities [note 7]
Foreign currency contracts (167,420) - (167,420) (167,420)
Uranium contracts (816) - (816) (816)
Long-term debt (1,492,237) - (1,786,567) (1,786,567)
Net $ (1,648,392) $ 938 $ (1,943,660) $ (1,942,722)
quakes99 wrote: Taken from the transcript of the Q1 Earnings Conference Call on April 28th when questioned about M&A opportunities at this low point in the Uranium market:
Tim Gitzel
Well we're not aggressive on that Andrew at the moment. I think we've got a great suite of the assets. We're focusing on our tier 1 we've got some room to ramp those up when the time is right and we're preparing for that. So we like the space we're in and quite frankly there is nothing out there that really whet our appetite is at the moment. So we're holding steady to where we're at.
Seems Cameco are saying that they aren't impressed by the new West Basin discoveries?
Worth reading the entire CC transcript at:
https://seekingalpha.com/article/3969744-camecos-ccj-ceo-tim-gitzel-q1-2016-results-earnings-call-transcript Cheers!