Cameco Announced Earlier, At Cigar Lake Mine Expect To Produce Up To 16.3M Pounds Of Uranium Concentrate, Down From Previous Forecast Of 18M Pounds; Production Of Uranium Concentrate At Key Lake Operations For 2023 Is Anticipated At 14M Pounds, Down From
Portfolio Pulse from Charles Gross
Cameco has revised its 2023 production forecast due to challenges at the Cigar Lake mine and Key Lake mill. The company now expects to produce up to 16.3 million pounds of uranium concentrate at Cigar Lake, down from the previous forecast of 18 million pounds. Production at Key Lake is anticipated to be 14 million pounds, down from the previous forecast of 15 million pounds. Factors impacting production include equipment reliability issues, operational changes, personnel availability, and supply chain challenges.
September 03, 2023 | 9:48 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Cameco's revised production forecast could negatively impact its stock price in the short term. The company's challenges at its Cigar Lake mine and Key Lake mill are expected to result in lower uranium production than previously forecasted.
Cameco's revised production forecast indicates that the company is facing significant challenges at its Cigar Lake mine and Key Lake mill. These challenges are expected to result in lower uranium production than previously forecasted, which could negatively impact the company's revenues and profitability, and consequently, its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100