Cameco Predicts Uranium Spot Market Downwards Correction

Source: Mineweb.com (7/31/07)

A forecast of lower sales and spot prices by Canadian uranium über-miner Cameco Monday during a conference call generated concern among analysts and reporters, resulting in a written clarification by the world's largest uranium miner.

The announcement followed two weeks of bad news involving Cameco and its gold subsidiary Centerra concerning lower gold production and pollution concerns at the Mount Hope operations.

Cameco reduced its 2007 uranium sales assumption from the 35 million pounds predicted as of the first quarter to 30 million pounds as of the second quarter. Meanwhile, Cameco said sales volumes are expected to average 32 million pounds annually from 2008 to 2011.

...George Assie, Cameco's Senior Vice President, Marketing and Business Development, noted that "few utilities have uncovered needs for the remainder of this year and demand from other spot market players-the traders, producers, investor funds-is uncertain as the large increase in the spot prices has caused some to move to the sidelines." Due to very limited volumes of supply and demand, Assie said, "We could very well see further decreases in the spot outlook in the near term."

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Source: Streetwise Reports (07/13/2020)

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"China's export quota could be opportunity for Canadian miners"

Mexico: Gold's Next Powerhouse Player
Source: Marc Davis, BNW News (11/03/2009)

As the world's key gold producing nations struggle mostly in vain to replenish dwindling below-ground supplies, Mexico is bucking the trend in a big way.

Where Have All the Gold Mines Gone?
Source: Brent Cook, Exploration Insights (04/14/2009)

Given the declining global gold production, mining companies’ demand for reserve replacement and the acute dearth of new gold discoveries, there is no doubt that real economic discoveries will be exceptionally valuable. . .the opportunity for stellar profits is the best it has probably ever been. Identifying the few successes, however, will require vigilant and constant technical assessment of geology and drill results, always with an eye to mine economics.

Congo Completes Mining Review, Says Majors Quit Talks
Source: Reuters (12/20/2008)

"Review process is extended an additional 45 days to allow six companies to return to the negotiating table for direct talks with government ministers."