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Cameco Corporation reports news about uranium fuel supply, nuclear fuel-cycle services, and its interests in Westinghouse Electric Company and Global Laser Enrichment. Company updates commonly address the Uranium, Fuel Services, and Westinghouse segments, including production at McArthur River, Key Lake, Cigar Lake, and operations in Canada and Kazakhstan, along with long-term uranium contracting for utilities and government nuclear programs.
Recurring developments also include IFRS financial results, annual guidance, site operating conditions that affect mining or milling activity, dividend and shareholder-meeting matters, director elections, annual reporting, and supply-chain responsibility disclosures. Cameco's shares trade on the Toronto Stock Exchange under CCO and the New York Stock Exchange under CCJ.
Cameco (TSX: CCO; NYSE: CCJ) will release its third quarter results on November 4, 2020, before market opening. Investors and media can join a conference call with senior executives at 8:00 a.m. Eastern time that day. The call will cover market trends and the company's strategic execution, followed by a Q&A session. Participants can dial 800-319-4610 (toll-free) in Canada and the US or 604-638-5340 to join the call. A live webcast will be available on cameco.com, with a recorded version accessible post-event until December 4, 2020.
Cameco reported its Q2 2020 results, showing a net loss of $53 million and an adjusted net loss of $65 million. The COVID-19 pandemic caused an additional $37 million in care and maintenance costs due to suspended operations, leading to reliance on higher-cost uranium from the spot market. Despite challenges, Cameco plans to restart the Cigar Lake mine in September, targeting production of up to 5.3 million pounds. The company maintains a strong balance sheet with $878 million in cash and a $1 billion undrawn credit facility.
Cameco (TSX: CCO; NYSE: CCJ) announced that the Federal Court of Appeal has upheld a 2018 Tax Court decision in favor of Cameco, resolving a 12-year tax dispute with the Canada Revenue Agency concerning the 2003, 2005, and 2006 tax years. This ruling affirms that Cameco's foreign subsidiaries and transfer pricing methods comply with Canadian laws. If CRA does not appeal, Cameco expects a refund of $5.5 million plus interest. The company is also seeking the return of $303 million in cash and $482 million in letters of credit tied up due to these reassessments.
Cameco (TSX: CCO; NYSE: CCJ) will release its second quarter results on July 29, 2020, before market opening. Investors and media are invited to the conference call at 8:00 a.m. Eastern, featuring insights on market trends and company strategy. Participants will be in listen-only mode. They can join the call by dialing 800-319-4610 (Canada/US toll-free) or 604-638-5340. A recorded version will be available post-call. Cameco is a leading global provider of uranium fuel for carbon-free nuclear power, with significant reserves and low-cost operations.
Cameco (CCJ) announced the resumption of production at its Port Hope Conversion Facility’s UF6 plant and Blind River Refinery, set to restart the week of May 18, 2020. This decision follows a temporary shutdown due to COVID-19-related workforce uncertainty. The company has now stabilized its workforce, ensuring personnel availability for operations. However, Cameco's Cigar Lake mine remains on care and maintenance amid ongoing pandemic challenges. The company withdrew its 2020 outlook for its fuel services division, citing insufficient basis for forecasts.
Cameco (CCJ) reported Q1 2020 results with a net loss of $19 million, slightly worse than the $18 million loss in Q1 2019. Adjusted net earnings were $29 million, up from a loss of $33 million last year. Revenue increased to $346 million, compared to $298 million in the previous year, primarily due to higher sales volumes. Production at Cigar Lake is suspended due to COVID-19, impacting operations. The company has $1.2 billion in cash and short-term investments, plus a $1 billion undrawn credit facility. The uranium market reacted with a 35% spot price increase since disruptions began.
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