PALM BEACH, Fla., June 1, 2022 /PRNewswire/ FinancialNewsMedia.com News Commentary - Experts see uranium prices continuing to rise for the next several years as it has done in the past. In
/PRNewswire/ FinancialNewsMedia.com News Commentary - Experts see uranium prices continuing to rise for the next several years as it has done in the past..
Aug 03 2021
As the uranium spot price remained unchanged last week, the world’s largest uranium company and several small ASX-listed companies released financial results.
-Cameco expects to produce up to 12mlbs in 2021
-Shaw and Partners view on two ASX-listed companies
-Uranium spot price rises by less than 1% for the month
By Mark Woodruff
Canadian uranium producer
Cameco last week reported a net loss of -US$29.4m for its second quarter ended June 30.
President and CEO Tim Gitzel noted the company added an additional 7mlbs to its long-term sales contract portfolio, bringing the total contracted so far in 2021 to 16mlbs.
The company reported production of 1.2mlbs for the second quarter, and expects to produce up to 12mlbs on a 100% basis in 2021, provided there are no further disruptions due to covid-19, forest fires, or any other cause.
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The Briggs wildfire has left the Cigar Lake mine in northern Sask unharmed.But keep burning
According to Cameco, which operates the facility, the Briggs fire near the Cigar Lake uranium mine in northern Saskatchewan has continued to burn, but it has now passed the main camp and “has no serious impact on the site.”
Company spokesperson Jeff Hryhoriw told CBC News on Friday afternoon that early inspections showed no structural damage to any buildings and all assets were intact.
He said that all 80 basic mine workers who remained at the site were safe and helped wildfire personnel to put out the hot spots. Cameco staff and a provincial wildfire team from the Saskatchewan Public Safety Agency (SPSA) are still at the scene.