Canada’s top uranium producer has a significant new discovery nearby to one of its largest existing mines. Cameco Corporation revealed in its quarterly MDA filing on SEDAR Friday initial figures for the Fox Lake deposit at the Read Lake project in Saskatchewan’s Athabasca Basin, which has seen continuous drilling since 2008. “… first time reporting for the Fox… Continue Reading
After enjoying a meteoric rise between 2002 and 2007 Cameco (CCJ) has endured an extremely challenging few years since the Fukishima disaster in March 2011: Technically speaking, there are a lot of positive developments in the CCJ chart including a potential breakout from a 13-month downtrend: And on the daily time frame there is a… Continue Reading
Cameco strikes deal to provide india with 7.1 million pounds of uranium The numbers certainly aren’t mind-blowing on Cameco Corp.’s five-year agreement to provide 7.1 million pounds of uranium to India through 2020. The deal is only estimated to be worth $350 million and it’s small when you consider that the Saskatchewan-based miner sells about… Continue Reading
Cameco (CCO.T), the company investors turn to for guidance on the current state of the uranium industry, released quarterly results this morning. Cameco believes that uranium will remain in surplus for the short term with continuing strong long term fundamentals. At press time the market is not impressed. Cameco shares are off ~3%, trading last at $18.95 per share. Cameco… Continue Reading
The Cigar Lake mine in northern Saskatchewan is one of the richest uranium mines in the world, but also one of the most complex. It is owned by Cameco (50.025%, operator), AREVA (37.1%), Idemitsu (7.875%) and TEPCO (5.0%) . It took Cameco (CCO:TSX) nearly 10 years and $2.6 billion to build. The ground in which the ore… Continue Reading
This morning on BNN’s Commodities with Andrew Bell, Dave Talbot who is Dundee’s uranium expert, spoke about the recent strength in the uranium spot market (click image above). The spot price for uranium is up over 30% from ~$28 per pound in June/July to $36.50 this week. Mr. Talbot believes the strength is overdone given that he… Continue Reading
Uranium bulls got a potential (and much needed) boost this morning after a strike warning was sent to one of the world’s largest uranium producers which may cause them to close the world’s richest uranium mine, indefinitely. Also, Cormark Securities initiates on NexGen Energy (NXE:TSXV) with an $0.80 per share target price which translates to 45% upside… Continue Reading
Peter Koven of the Financial Post reminds us why he is one of the best mining reporters, distilling Cameco’s Cigar Lake uranium mine, one of the most complicated and significant mining operations on earth, down to a succinct 61 second video. Watch it over at FP’s site, or read the transcription below. “The cigar lake… Continue Reading
Over the past few days we have seen a number of companies either continue to drill ‘best-to-date’ holes (Fission, NexGen) or begin their winter drill campaigns in Saskatchewan’s world-class uranium basin. Add to that, the recent takeover bid from Denison (DML:TSX) of International Enexco (IEC:TSXV) and you have one area of the exploration sector that continues to heat… Continue Reading
The small cap uranium explorer, International Enexco (IEC:TSXV), announced today that it has agreed to be acquired by Lukas Lundin’s Denison Mines (DML:TSX) for shares. Denison already owns roughly 8.4% of the company and they are acquiring the remaining shares for 0.26 Denison shares. Based on Denison’s closing price of $1.77, this equates to ~$0.46 per IEC share, representing an 18%… Continue Reading
Uranium explorer, Skyharbour Resources (SYH:TSXV) and there Western Athabasca Syndicate partners have outlined their maiden drill campaign on their Preston Lake project. This initial drill campaign will be comprised of roughly 10-15 holes drilled to depths of 100-250m (total of 2,000m). The syndicates technical committee created the template for the 2014 program. Richard Kusmirski (formerly exploration manager… Continue Reading
International Enexco (IEC:TSXV) has announced it has hit the thickest and highest grade hole to date at their Mann Lake project located in the eastside of the prolific Athabasca Uranium Basin. The ~$15 million market cap Enexco holds a 30% working interest and is partnered with two of the largest uranium producers in the world,… Continue Reading
Dension Mines (DML:TSX) is exploring and developing one of the best undeveloped uranium projects in the world, the Wheeler River project. This morning, the company released the latest batch of drill holes done at the project. The highlight hole encountered 6.5m of 29.61% U308 starting from 407m deep. Other highlights include 4.70m of 18.37% U308… Continue Reading
At the end of last year we highlighted “3 Stocks for 2014”, as it has turned out we have been quite lucky in the new year with these picks: CSIQ +43.5%, CCJ +6.7%, ABX +3.3%. While CSIQ has rocketed into the stratosphere, CCJ and ABX are just getting started. We are particularly interested in CCJ… Continue Reading
Skyharbour Resources (SYH:TSXV), the Patterson Lake South (PLS) explorer, is diversifying outside of the PLS play by acquiring a 60% interest in the Mann Lake project located on the east side of the Athabasca Basin. The exploration project is roughly 25km SW of Cameco’s (CCO:TSX) McArthur River mine and 15km along strike from their Millennium deposit. Skyharbour will… Continue Reading
