Days like today (-4.4% because spot is down) crack me up... 1) Cameco's profits go UP when spot drops. Virtually the only time CCJ is in the spot market, is when they have to buy some to cover Inkai's shortages. This effect - profits going UP when spot goes down, is detailed in the quarterlies - and posters complained bitterly about it, when spot was over $100.
2) Cameco and Brookfield now own the largest nuclear engineering business in the West. That profit center will show grow, in synch with the revival of nuclear power.
3) Cameco is sitting on the best set of idled production assets in the West. When utilities finally need to contract more fuel, Cameco will get the lion's share of that new business.