SASKATOON Cameco posted a net loss of $37 million in its second quarter earnings report but says it has a strong balance sheet with $1.2 billion in cash and short-term investments. The company says the quarterly results were impacted by $8 million in care and maintenance costs from the suspension of production at the Cigar Lake mine until its restart in April. “While production was suspended, we kept and continued to pay all our employees. These costs were offset by the receipt of $9 million from the Canadian Employment Wage Subsidy for the quarter,” the company said in it’s earnings report. Cameco says production resumed at the Cigar Lake mine after non-essential personnel were evacuated at the beginning of July because of a nearby forest fire.
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Cameco posts $37 million loss in second quarter on lower revenues - Medicine Hat NewsMedicine Hat News
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