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Sunday, February 11, 2007

News From Cameco: Songs of the Drowned

Man, I go off to Orlando and I miss all the good stuff. Check out the latest from Cameco on its Cigar Lake Mine. They're delaying uranium sales from Cigar Lake by up to 7 YEARS!

Cameco Corp.
has deferred planned uranium sales from its flooded Cigar Lake mine for up to seven years, putting further supply constraints on an already tight market and raising concerns the crucial project could be delayed even longer than expected.

The world's largest uranium producer said it has postponed deliveries of Cigar Lake uranium initially scheduled for this year to the end of those contracts and said other customer deliveries affected by the supply interruption will be put off for "a five- to seven-year period."

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