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Cameco Corp (CCJ.N)

CCJ.N on New York Stock Exchange

10.89USD
24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Uravan and Cameco form joint venture
Monday, 6 Mar 2017 08:06am EST 

Uravan Minerals Inc - : Uravan and Cameco form joint venture . Co, Cameco have signed a memorandum of understanding involving termination of Halliday/Stewardson option agreement . To form JV whereby Uravan and Cameco will be participants under H/S JV agreement covering Halliday and Stewardson projects, Athabasca basin, Saskatchewan .Cameco can earn a 51% interest in Uravan's Halliday and Stewardson properties by funding $7 mln in exploration expenditures by April 2018.  Full Article

Cameco CEO says may review uranium production levels
Tuesday, 28 Feb 2017 10:35am EST 

Cameco Corp CEO Tim Gitzel, speaking at an investor conference in Florida: Said Cameco could review uranium inventory, production and purchasing this year after a major customer cancelled contract Further company coverage: (Reporting By Rod Nickel) ((rod.nickel@thomsonreuters.com;)).  Full Article

Uravan Minerals has been informed that Cameco will not to fund Athabasca Basin Stewardson project for 2017
Thursday, 9 Feb 2017 01:46pm EST 

Uravan Minerals Inc : Uravan Minerals Inc. - update - Stewardson Project . Has been informed that Cameco has elected not to fund exploration expenditures on co's Athabasca Basin Stewardson project for 2017 . Cameco has until April 2018 to complete first option to earn a 51% interest by funding $7 million in exploration expenditures . co proposed Cameco allow co to fund exploration expenditures on Stewardson project for 2017 to April 2018 when option expires .Several proposals designed to amend current option between the companies are being discussed and negotiated.  Full Article

Cameco sets quarterly cash dividend of C$0.10per share
Wednesday, 8 Feb 2017 06:20pm EST 

Cameco Corp :Sets quarterly cash dividend of C$0.10per share.  Full Article

Cameco to reduce 10 pct workforce
Tuesday, 17 Jan 2017 06:01pm EST 

Cameco Corp - : Do not currently expect that any changes to financial outlook for 2016 will have a material impact on actual 2016 earnings . "Expect our adjusted net earnings for 2016 will be significantly lower than analysts' earnings estimate" . Reduction in workforce is planned to be conducted in stages and expected to be completed by end of may 2017 . Recorded an impairment charge for rabbit lake mine and mill in conjunction with suspension of production . Says Cameco delivered 31.5 million pounds of uranium at an average realized price of $54.46 per pound in 2016 . Workforce at Mcarthur river, key lake and cigar lake operations is expected to be reduced by approximately 10% or 120 employees in total . Workforce reduction, changes to air commuter service, work schedules at saskatchewan operations are not expected to impact 2017 production . Cameco expects Inkai to produce almost 10% less in 2017 with cameco's share being 3.1 million pounds . Plans to implement changes to air commuter service in Northern Saskatchewan and is expected to be completed during 2018 . Expect to make total adjustments to net earnings between approximately $180 million and $220 million after-tax for 2016 ."Expect to report an IFRS net loss for 2016 due in part to asset impairments resulting from fair market value assessments at year end".  Full Article

Denison executes agreement to increase ownership of Wheeler River Project up to 66 pct
Tuesday, 10 Jan 2017 06:32am EST 

Denison Mines Corp : Denison executes agreement to increase ownership of Wheeler River Project up to 66% . Denison Mines - JV parties agreed to allow one-time election by Cameco to fund 50% of its ordinary share of joint venture expenses in 2017 and 2018 . Denison Mines - Shortfall in Cameco's contribution will be funded by Denison, in exchange for a transfer of a portion of Cameco's interest in WRJV . Denison's share of joint venture expenses will be 75% in 2017 and 2018 . Denison Mines Corp - In connection with agreement, JV parties have also approved a CAD$12.5 million work program and budget for WRJV in 2017 . Denison Mines Corp - Denison expects that its ownership interest in Wheeler River Project will increase to approximately 66% by December 31, 2018 . Cameco and JCU's share of joint venture expenses will be 15% and 10%, respectively in 2017 and 2018 .Denison Mines Corp - Denison, operator of WRJV, agreed to propose work program and budget for 2018 that will not exceed approximately CAD$15.6 million.  Full Article

Cameco posts Q2 revenue C$466 mln vs C$565 mln
Thursday, 28 Jul 2016 07:45am EDT 

Cameco Corp : Cameco reports second quarter financial results . Q2 revenue C$466 million versus C$565 million .Q2 revenue view C$572.7 million -- Thomson Reuters I/B/E/S.  Full Article

Cameco port hope conversion facility workers accept new collective agreement
Friday, 8 Jul 2016 05:51pm EDT 

Cameco Corp: Cameco port hope conversion facility workers accept new collective agreement . Cameco Corp says unionized employees at Cameco's port hope conversion facility have voted to accept a new collective agreement .About 230 employees, have agreed to a three-year contract that includes a seven per cent wage increase over term of agreement.  Full Article

Cameco updates production outlook for Cigar Lake mine
Tuesday, 31 May 2016 05:24pm EDT 

Cameco Corp : Cameco updates production outlook for cigar lake . Canadian Nuclear Safety Commission (cnsc) has approved an application by Areva Resources Canada Inc. . Cigar lake mine is expected to reach its full annual production of 18 million pounds (cameco's share 9 million pounds) in 2017 .Commission approved an application to increase annual licensed production capacity of mcclean lake milling operation to 24 million pounds of uranium concentrate.  Full Article

Cameco and Kazatomprom sign agreement to restructure JV Inkai
Friday, 27 May 2016 03:03am EDT 

Cameco Corp : New agreement replaces memorandum of agreement signed by cameco and kazatomprom in september 2012 . Agreement with joint stock co national atomic co kazatomprom and jv inkai llp (jv inkai) to restructure and enhance jv inkai .Cameco and kazatomprom sign agreement to restructure jv inkai.  Full Article

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Deals of the day- Mergers and acquisitions

March 6 The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday: