Antinuclear

Cameco confident on uranium market’s future

Investor interest will eventually return,…..CEO Jerry Grandey said that he did not anticipate “significant direct effects on Cameco’s business in the short or long-term…….The uranium we are selling today fuels existing reactors that continue to operate, safely’’

Flicker of hope for uranium miners, The Age, Barry FitzGeraldMarch 16, 2011

The big three of ASX-listed uranium stocks – Paladin (ASX:PDN), Extract (ASX:EXT) and Energy Resources of Australia (ASX:ERA………….There are some real doubts that the world needs the sort of growth in uranium supplies that was underpinning the fancy market values of those companies already in production (like Paladin and ERA), or those with a big world-class deposit that would get in to production before long (like Extract).
While it has been a tough week for the big three of uranium on the ASX, it has been tougher for the dozens and dozens of listed junior uranium explorers. Share price falls of 60 per cent in the last two trading days is common.

What next?

Where will the investment to continue drilling their exploration properties come from? And if they have already got a resource, how will they fund a feasibility study, and where will they find the development dollars?…

Investor interest will eventually return,……In a briefing to investors following the Fukushima shock – and Cameco’s share price getting beaten up as a result – its CEO Jerry Grandey said that he did not anticipate “significant direct effects on Cameco’s business in the short or long-term.’’

‘’The uranium we are selling today fuels existing reactors that continue to operate, safely generating base load electricity, without emissions of greenhouse gases.’’

‘’These facilities are the bedrock of electricity supply in their markets.’’

Grandey added that growth in nuclear capacity in China, India, Korea  and elsewhere has what he called ‘’ tremendous momentum’’ and that Cameco expects that it will continue.  He was talking his own book for sure. But at least there was some hope in it all for our junior explorers.

March 17, 2011 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, marketing for nuclear