Interesting article in the Financial Post recently: Cameco’s tax issues offset by improving prospects in Japan. The article kicks off with an observation about Cameco paying off the CRA (Canada Revenue Authority) but what interested me was the following paragraph:
On the fourth quarter conference call, Cameco’s management stated that Japan is no longer deferring uranium deliveries or asking the company to buy its material. They also said utilities are spending heavily on reactor upgrades – as much as $13-billion so far – and anticipate six to eight units will restart by the end of 2013.
A lot of people are still waiting to see what’s going to happen with Japan this year. I think a comment like this from the largest uranium producer in the world is a pretty strong indication of where things are headed.
Dev Randhawa
