Spot price spikes but no word on re-opening of mines
There is still no indication as to when the dormant Cameco operations at McArthur River/ Key Lake will re-open, despite a bounce back in immediate, or “spot” uranium prices.
That was the message from CEO Tim Gitzel on a fourth quarter investor and media call Monday, who labelled the all-important long term contract price market “tentative.”
“While we are seeing some positive developments, we have not yet seen the type of response needed from the uranium market to restart,” he said. “Unfortunately today’s prices are still nowhere near, not even close, to the levels needed.”