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« The Junior Mining Stock that’s Up Over 400 Percent this Year | Main | Tough times, no easy answers for Pilgrim Nuclear Power Plant »
Monday
Sep282015

Cigar Lake mine officially starts production

One of the planet's richest uranium mines has officially declared production, putting an end to 34 years of delay for the project, majority-owned by Cameco Corporation (TSX, NYSE: CCO).

Last week Cameco and Areva senior management including Cameco president and CEO Tim Gitzel cut the ribbon on the mine, located in the uranium-rich Athabasca Basin of northern Saskatchewan. They also led dignitaries including Saskatchewan Economy Minister Bill Boyd and community leaders from northern Saskatchewan on a tour of the underground workings.

"We are happy to celebrate these two major uranium mining assets in Saskatchewan, the Cigar Lake mine and the McClean Lake mill,” said Olivier Wantz, member of the executive committee and senior executive vice-president, mining and front end business group for Areva Resources Canada Inc, which owns 37 percent of the project. “Their successful operation demonstrates the determination and expertise of our employees to ensure the safe start-up and continued production.”


read more.....

Is Cameco a decent buy at these levels - $11.70 it is tempting.....

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