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Jerry Grandey, CEO, Cameco
Where Things Stands Now at Cigar Lake
We are now in Phase I of recovery, intercepting the collapsed area, putting concrete into tunnels trying to get effective seal, go on now for one month, maybe a bit longer..hopefully in few months pumping mine out
How Has It Changed Estimates for Coming Year
Remember Cigar was not in production but development..2007 no impact on objectives..mine was supposed to be in production in 2008. In March we will let people know when it will likely start production and the added cost that will be incurred in the cleanup exercise
Like it or not, the coming announcement of Cameco is anticipated by all, mostly because, in my opinion, investor sentiment is key in this speculative phase of the uranium investing cycle.
As liquidity continues to pour into TSX Venture and uranium stocks in general--bulled by a new Sprott report--some have begin to question valuations. In an honest moment, I do worry that market psychology (greed) during these times often displace logic and analysis. However, a keen eye on the broader market and a smidgeon of self-discipline may be the saving graces in this ever-increasingly volatile uranium investing world!
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