Cameco Provides Further Comment on Hathor News Releases

Cameco Corp. (TSX:CCO,AMEX:CCJ)  provided further comments Preliminary Economic Assessment summary results of the Roughrider deposit released on Tuesday in a news release issued by Hathor Exploration Ltd. (TSX:HAT)

The press release is quoted as saying:

“Based on our extensive experience developing and operating projects in the Athabasca Basin, we believe Hathor’s PA significantly underestimates the costs, timelines, and risks associated with development of the Roughrider deposit and so, by inference, significantly overstates the value of the Roughrider deposit and Hathor as a company,” said Tim Gitzel, president and CEO of Cameco.

“We are convinced that the development of Roughrider as a standalone operation cannot be economically justified using realistic development cost and timeline assumptions. The economics work for Cameco because we have existing infrastructure in the Athabasca region including nearby milling capacity. We considered the nature and location of the Roughrider deposit and Hathor’s other exploration assets and any expansion potential in making our offer. We continue to believe our offer provides full and fair value.”

Click here to access the entire news release.