This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cameco Management Discusses Q3 2011 Results - Earnings Call Transcript

Today's conference call is open to all members of the investment community, including the media. During the Q&A session, please limit yourself to 2 questions and then return to the queue. Please note that this conference call will include forward-looking information, which is based on a number of assumptions, and actual results could differ materially. Please refer to our annual information form and MD&A for more information about the factors that could cause these different results and the assumptions we have made.

With that, I'll turn it over to Tim.

Timothy S. Gitzel

Thank you, Bob, and thanks to everyone for joining us on our third quarter call today. We're going to start with an overview of our significant developments this quarter. As you may know, we recently signed a nonbinding memorandum of understanding with our Cigar Lake partners, which will significantly improve the economics of the Cigar Lake project and sustain our status as a low-cost producer. The agreement will see all of the Cigar Lake ore processed at the McClean Lake mill, resulting in a significantly lower operating cost for the Cigar Lake partners, dropping from the expected $23.14 per pound to about $18.60 per pound. The impact of this agreement and other changes to the project will be detailed in the next Cigar Lake technical report, which will be available in February of 2012.

We also signed a memorandum of agreement with our partner, Kazatomprom, which is an important step toward increasing production from Blocks 1 and 2 at our Inkai project to 5.2 million pounds. The agreement is indicative of our strong relationship with Kazatomprom and is another step toward our Double U strategy. Looking beyond Double U, we also made an offer for Hathor Exploration, which has been extended to November 14 in order to preserve our options in relation to this potential transaction. Today, there's nothing new to report on this. We will let you know when any decisions have been made.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs