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February 9, 2013
13:59 EDTCCJCameco recorded a $168M write-down in Q4 on its Australian uranium project
In Q4 12,Cameco recorded a $168M write-down of the carrying value of its interest in Kintyre, the advanced uranium exploration project in Australia. Due to the weakening of the uranium market since the asset was purchased in 2008, no increase in mineral resources in 2012 and the decision not to proceed with the feasibility study, Cameco concluded it was appropriate to recognize an impairment charge for this asset. Kintyre remains an important asset in its portfolio. However, given the current state of the market, it was necessary to reduce its carrying value at this time. The amount of the write-down was determined as the excess of the carrying value over the fair value less cost to sell based on the implied fair value of the resources in place using comparable market transaction metrics.
News For CCJ From The Last 14 Days
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November 10, 2014
11:24 EDTCCJCameco volatility increases on sharp rally
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11:12 EDTCCJUranium stocks rally after Japan approves reactor restart
Stocks of companies involved with the production, exploration and extraction of uranium are higher after the Kagoshima prefecture approved the restart of the Sendai nuclear power plant in Satsumasendai, Japan. The restart, which is slated to happen next year, will be the first restart since the meltdown at the Fukushima facility in 2011. WHAT'S NOTABLE. According to a BBC report, before the Fukushima incident 30% of Japan's power was nuclear-generated. Japan's Prime Minister Shinzo Abe has argued that the nuclear shutdown is hurting Japan's economy, as it has forced Japan to import expensive fossil fuels to make up the power shortfall. STOCKS TO WATCH. Shares rising following the news include Denison Mines (DNN), which is up over 6%, Uranerz Energy(URZ), up 14%, Cameco (CCJ), up almost 2%, UR-Energy (URG), up almost 14%, Uranium Energy (UEC), up 7%, Energy Fuels (UUUU), up 11% and Uranium Resources (URRE), which is up 19% in late morning trading.

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