Cameco announced the consolidated financial and operating results for the third quarter ended September 30, 2010. Highlights include a production increase of 17% year to date and a 13% decrease on the average unit cost of production. Net earnings this quarter were CAN$98 m (CAN$0.25 per share diluted) compared to CAN$172 m (CAN$0.44 per share diluted) in the third quarter of 2009.
Cameco announced the financial and operational results of the first quarter of 2010. Highlights include; net earnings of US$142 m (US$0.36 per share diluted), compared to US$82 m (US$0.22 per share diluted) in Q1 of 2009. At the end of 2009, Cameco sold all its shares of Centerra Gold Inc. In addition Cameco announced it produced a total of 6.1 m pounds of uranium in Q1 of 2010.
Received an NI 43-101 Technical Report, recommended to improve confidence on uranium grade that one in twenty underground holes should be assayed to confirm that the current calibration of the probe is reliable. Further density determination should be made on core samples prior to sampling the core. The operation estimated Mineral Reserves have proven, thus far, to be conservative with more U3O8 extracted than predicted to date. As a result of the high grade of the deposit it has been shown that the Mineral Reserve based economics produce robust cash flow margins and are not significantly sensitive to the grade and price variations assumed in this report.
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