Cameco downgraded to ’sell’

- April 6th, 2010

FP reports Cameco’s recent technical report released and its continued saga with Cigar Lake .

“While the company had recently disclosed a revised capital-cost estimate of around $1-billion and a revised startup timeline of 2013, the technical report disclosed higher than forecast life-of-mine cash operating costs of $23 per pound (up from $14/lb) and a relatively slow production ramp-up timeline […]

FP reports Cameco’s recent technical report released and its continued saga with Cigar Lake .

“While the company had recently disclosed a revised capital-cost estimate of around $1-billion and a revised startup timeline of 2013, the technical report disclosed higher than forecast life-of-mine cash operating costs of $23 per pound (up from $14/lb) and a relatively slow production ramp-up timeline (with full capacity not expected until 2017),” said Orest Wowkowdaw, a Canaccord Adams analyst.

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