Cameco continues to suffer losses, is cautiously optimistic about future

Cameco’s Cigar Lake uranium mine is seen here in this undated photo. (Cameco)

By David Shield, CBC News, April 28, 2017 

Uranium miner loses $18M in first quarter, says production costs down considerably

While its financial numbers are daunting, uranium mining company Cameco says it’s remaining confident about the future.

In its first quarter results, Cameco said its net loss attributable to equity holders was $18 million. At the same time last year, the company had made $78 million.

“As we expected, our first quarter sales were light, resulting in the usual seasonality of our cash flow,” wrote CEO Tim Gitzel in a news release.

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