GREY:JNRRF - Post by User
Post by
megphion Apr 11, 2003 6:20pm
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Post# 6017524
Bigger problems at Cameco
Bigger problems at Cameco This is a post from the Cameco bullboard. Looks like their problems might be much worst that initially stated. Although it's a stretch to say they might shut down McArthur River for 6 months, if their electrics go, it will be much more than 2 weeks. McArthur River produces 17% of the world's supply of uranium. Having it shut down production would be like having Barrick and Placer Dome shutting down all their mines. The impact on the price of gold would be incredible. If the spot price stays up for a prolonged period of time, then the uranium juniors will have no problem raising money for a drill program. This could be the start of something real good for JNR. Good luck to all and have a nice weekend.
SUBJECT: Mine flooded Posted By: 20millionthShopper
Post Time: 4/11/03 15:37
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As usual, the PR dept understates the dangers. The grinding mill is already underwater and if the water gets to the 640 level and knocks out the electrics, look for a 6 month shutdown and many $ to re-start