Key Developments: Cameco Corp (CCJ)
22.21USD
21 May 2013
$0.64 (+2.96%)
$21.25
$21.40
$22.23
$21.35
1,208,146
1,647,519
$23.23
$16.41
Latest Key Developments (Source: Significant Developments)
Cameco Corp Approves Quarterly Dividend
Cameco Corp announced that board of directors approved a quarterly dividend of $0.10 per share on the outstanding common shares of the corporation that is payable on July 15, 2013, to shareholders of record at the close of business on June 28, 2013. Full Article
Cameco Corp Announces Chairman Change
Cameco Corp announced that Victor J. Zaleschuk will step down as Chairman of Cameco's Board of Directors following the corporation's annual general meeting on May 14, 2013. Cameco's board has selected A. Neil McMillan to succeed Zaleschuk as non-executive Chairman of the board, provided he is re-elected at Cameco's annual general meeting. Zaleschuk will continue to serve as a director if re-elected. Full Article
Cameco Corp Issues FY 2013 Revenue Guidance In Line With Analysts' Estimates
Cameco Corp announced that it expect consolidated revenue to be up to 5% higher in fiscal 2013. The Company reported revenue of CAD2.321 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of CAD2.350 for fiscal 2013. Full Article
Cameco Corp Approves Quarterly Dividend
Cameco Corp announced that its Board of Directors approved a quarterly dividend of $0.10 per share on the outstanding common shares of the corporation that is payable on April 15, 2013, to shareholders of record at the close of business on March 28, 2013. Full Article
URU Metals Ltd Signs Option Agreement Over Nueltin Lake Project With Cameco Corp-DJ
Dow Jones reported that URU Metals Ltd, announced that on February 5, 2013 it signed an exclusive option agreement with Cameco Corporation, one of the uranium companies, to earn a majority interest in Nueltin Lake Gold-Uranium Project, in the Kivalliq Region of the Territory of Nunavut, Canada. Under the terms of the option agreement, URU Metals will fund a total of C$2.5 million on exploration expenditures over a three-year period in return for a 51 per cent stake in the Project. On completion of the First Option, URU has the option to earn an additional 19% interest in the project by funding a further $8.0 million in exploration over a four-year period. On completion of both options, the Company would have earned a 70 per cent interest in the Project by completing CDN$10.5 million in exploration expenditures over a seven-year period. URU will be the project operator over the option earn-in period. After URU completes its earn-in requirement under the Option Agreement, the parties will enter into a standard joint venture agreement, the form of which has already been agreed to and appended to the Option Agreement. Full Article
Cameco Corp Completes NUKEM Acquisition
Cameco Corp announced that it has obtained all required regulatory approvals and completed the acquisition of NUKEM Energy GmbH (NUKEM), one of the world's leading traders and brokers of nuclear fuel products and services. Under the terms of the agreement, Cameco paid a total of EUR107 million ($140 million (US)) on closing to Advent International and other shareholders to acquire NUKEM. Cameco also assumed NUKEM's net debt which has been reduced to about EUR84 million ($111 million (US)) since the transaction was announced in May 2012. Under the earn-out provisions in the agreement, Cameco will pay Advent a share of NUKEM's 2012 earnings. The earn-out payment will be calculated based on NUKEM's 2012 audited financial statements. An additional payment may be required in 2015 depending on results achieved in 2013 and 2014. NUKEM has been involved in the nuclear energy industry for more than 50 years and has developed strong relationships with customers and suppliers involved in the fuel cycle. Key NUKEM personnel have committed to remain with the company and NUKEM will continue to operate as an independent entity. Full Article
Cameco Corp Completes Yeelirrie Uranium Project Acquisition
Cameco Corp announced that it has completed the acquisition of the Yeelirrie uranium project in Western Australia for USD430 million. Yeelirrie is one of Australia's undeveloped uranium deposits and is located about 650 kilometres northeast of Perth and about 750 kilometres south of Cameco's Kintyre exploration project. Cameco purchased the Yeelirrie development project from BHP Billiton and has received the necessary approvals from the government of Western Australia and the Australian Foreign Investment Review Board for the acquisition. With the acquisition completed, Cameco will be paying stamp duty of about USD22 million to the government of Western Australia. Full Article
Cameco Corp Approves Dividend
Cameco Corp announced that board of directors has approved a quarterly cash dividend of $0.10 per common share, payable on January 15, 2013 to shareholders of record on December 31, 2012. Full Article
Purepoint Uranium Group Inc Signs Athabasca Basin Joint Venture with Cameco Corp and AREVA Resources Canada Inc
Purepoint Uranium Group Inc announced that it has entered into a definitive joint venture agreement with Cameco Corporation and AREVA Resources Canada Inc. for the ongoing exploration of the Hook Lake uranium project in the Athabasca Basin pursuant to its option agreement with Cameco announced February 7, 2007. Purepoint holds a 21% interest in the project. Full Article
Cameco Corp Announces $500 Million Debenture Offering
Cameco Corp announced that it has priced a public offering of unsecured debentures (the Offering) consisting of $400 million 3.75% Series E Debentures having a term of 10 years (the Series E Debentures) and $100 million 5.09% Series F Debentures having a term of 30 years (the Series F Debentures and together with the Series E Debentures, the Debentures). The closing of the Offering is expected to take place on November 14, 2012. Cameco intends to use the net proceeds of the Offering to strengthen its capital position and enhance its financial flexibility in order to support planned expansion of its uranium production capacity and for general corporate purposes. Full Article
UPDATE 2-Cameco eyes Japan reactor re-starts after profit plunge
WINNIPEG, Manitoba, May 1 - Profit at Cameco Corp , one of the world's biggest uranium producers, plunged 93 percent in the first quarter as uranium sales fell and prices were weaker, but the company said it expects Japan to restart some nuclear reactors this year, pointing to better times ahead.
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