Australian news, and some related international items

Cameco shares fall in grim uranium market

thumbs-downCameco Falls as Profit Lags Estimates Amid Uranium Slowdown  Bloomberg, By Christopher Donville  Feb 10, 2014 Cameco Corp. (CCO),Canada’s largest uranium miner, fell the most in more than a year after posting quarterly profit that lagged behind analysts’ estimates and saying it doesn’t expect a fast recovery in demand for the nuclear fuel.

Cameco fell 2.7 percent to C$22.80 at 11:33 a.m. in Toronto after earlier declining as much as 6.9 percent, the most intraday since Nov. 1, 2012.“Market conditions deteriorated in 2013 and we believe the uncertainty could continue, depending onhow events unfold,” the Saskatoon, Saskatchewan-based company said Feb. 7 in a statement……

“The slower-than-expected pace of Japanese reactor restarts, unexpected reactor shutdowns in the United States and temporary shutdowns in South Korea led to demand erosion,” the company said in the statement.

February 11, 2014 - Posted by | Uncategorized

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