Industry analysts John Redstone and John Hughes of Desjardins Securities are predicting that uranium prices will begin to consolidate and settle around $60 US.
"We expect supply growth to match our most aggressive demand growth profile, keeping total inventories well above adequate levels," they wrote in a note to clients.
Ottawa (NYT)---- Cameco (NYSE CCJ) the world’s largest uranium producer, has told the Canadian nuclear regulator that its refinery might have leaked uranium, arsenic and fluorides into Lake Ontario.
The plant at Port Hope, Ontario, across the lake from Rochester and down the shore from Toronto, first refined uranium for the Manhattan Project during World War II. It has been temporarily closed since July to remove contaminated soil.
“We’re anticipating that material may have been entering the harbor,” Mr. Krahn said, adding that Cameco did not know how long it would take to confirm any possible pollution.
Cameco (NYSE CCJ) announced that first quarter net income more than doubled to $133 million as uranium demand resulted in increased sales.
The Toronto Star reports........
Cameco, the world's top uranium producer, earned $133 million, or 37 cents a share, in the quarter ended March 31. That was up from $59 million, or 16 cents a share, in the year-earlier period.
The profit was shy of the 40 cents a share expected by analysts polled by Reuters.
