"Supply curtailments such as the one represented with this announcement together with actions of global peers such as Cameco, Orano and KazAtomprom could serve to accelerate the anticipated market normalisation. Being the lowest cost open-pit uranium mine in the world means LHM will likely be one of the first mines to return to production as the uranium market normalises. As 75% owner of LHM and its operator, the Company remains uniquely placed to benefit at that time with associated benefits for its stakeholders. "
Two years time frame mentioned. Is a big plus. LMH- the lowest cost open-pit uranium mine in the world should mean everyone else is in the same bucket.
"
Summary of first quarter results and developments:
Suggest Cameco has started seeing the required price increases starting already
- Net earnings of $55 million; adjusted net earnings of $23 million: Earnings were higher this quarter as compared to 2017, largely due to the gain realized on the restructuring of JV Inkai and higher realized prices and deliveries in our uranium segment. As part of our ongoing efforts to optimize our contract portfolio and realize uncertain future value today, we restructured a contract with one of our utility customers that advanced future deliveries into the quarter, resulting in higher sales volume in both the uranium and fuel services segments. As expected, our unit cost of production was higher this quarter due to the suspension of production at McArthur River and Key Lake and the change in reporting for JV Inkai."
Sharing the pain of this one. Barely enough to pay for a coffee if I could sell them.
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