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Cameco announces Q3 2018 results

Mining News - Published on Tue, 06 Nov 2018

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Cameco reported its consolidated financial and operating results for the Q3 ended September 30,2018 in accordance with International Financial Reporting Standards (IFRS). "Our results and the updates to our outlook reflect the impact of our decision to extend the shutdown at McArthur River/Key Lake, and the tax case ruling that was unequivocally in our favour," said Mr Tim Gitzei, Cameco's president and CEO. "As a result of the updates to our outlook, we expect a strong finish in the fourth quarter. The uranium market is showing a marked improvement compared to a year ago, in fact relative to the first half of the year, but there is still a long way to go. There are a lot of moving parts in the market right now, largely driven by market access and trade policy issues, and there continues to be a lack of acceptable long-term contracting opportunities.”

Mr Gitzei said that “We are effectively navigating the current market developments, and are making the decisions necessary to keep the company strong and viable for the long-term."

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Posted By : Rabi Wangkhem on Tue, 06 Nov 2018
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