Uranium producer Cameco cuts net loss in Q3 y-o-y, expects first production at McArthur River this year

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! ( Kitco News ) – Uranium producer Cameco (TSX: CCO ; NYSE: CCJ ) yesterday reported Q3 2022 net loss of C$20 million and adjusted net earnings of C$10 million, compared to a net loss of C$72 million and adjusted net loss of C$54 million in Q3 2021.

The company said its quarterly results are driven by normal quarterly variations in contract deliveries and the continued execution of its strategy, including the operational readiness activities to reach planned tier-one production by 2024.

In its uranium segment, the company produced 2 million pounds (its share) during the quarter (Q3 2021: 2 million pounds) and delivered 5.3 million pounds (Q3 2021: 6.7 million pounds) at an average realized price 48% higher […]

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