Close But No Cigar Lake
In my uranium report, I talk about how not all planned uranium mine production is going to come online as scheduled. Here's a good example...
The mine was originally scheduled to come online in 2008 ... now it gets pushed back to 2009. Plus, the capital costs of the mine are expected to be "significantly higher." Ouch!
Well, I believe the price of uranium is going to soar during the next year, to well over $70 per pound. So it's not like Cameco will be hurting too much.
Oct. 23 (Bloomberg) -- Cameco Corp., the world's largest uranium supplier, said the construction of a mine at Cigar Lake, Saskatchewan, will be delayed by ``at least a year'' after water flooded part of its underground development yesterday.
The mine was originally scheduled to come online in 2008 ... now it gets pushed back to 2009. Plus, the capital costs of the mine are expected to be "significantly higher." Ouch!
Well, I believe the price of uranium is going to soar during the next year, to well over $70 per pound. So it's not like Cameco will be hurting too much.
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posted by Sean Brodrick @ 9:47 AM
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