Good prices for Uranium helped Cameco report a rise in earnings over this year’s third quarter.
Today the company held a conference call where it reported third-quarter earnings of 104 million dollars.
That’s up from 80 million dollars at the same time last year.
CEO Tim Gitzel cautions it’s still an uncertain time for the industry though due to three main reasons.
“The drivers of this uncertainty are three-fold: First there remains speculation about surplus inventories from Germany and Japan coming to market. Secondly there’s some expectation that customers are going to be requesting deferrals in deliveries, and third the general economic turmoil around the globe continues.”
Meantime work continues on new oxygen, acid and steam plants at Key Lake.
Expectations at this point are that all three will be operating by the end of this year.
Production at the Cigar Lake mine is still expected to begin by mid-2013.
Workers are currently working on sinking a second shaft at the mine-site.