Cigar Lake
Kopierar en bra sammanfattande text från Scorkungen på BS.
"Cigar Lake special
Cameco, världens största uranproducent, är operatör vid Cigar Lake-fyndigheten i Kanada. Cigar Lake räknas som den enskilt största höggradiga uranfyndighet i världen och var från början beräknad att sättas i drift i början av 2008. Cigar Lake förväntas innehålla 232 miljoner pounds U308. I oktober 2006 råkade gruvan ut för en olycka och den vattenfylldes. Det är inte första gången det händer oförutsedda saker vid Cigar Lake, på våren innan fyllde en flod ett gruvschakt och projektet blev försenat 6 månader. Det har visat sig mycket svårt att exploatera denna fyndighet och Cameco har ännu inte meddelat hur illa det är vid Cigar Lake. En uppdatering väntas i januari och i februari väntas en ny tidsplan och kostnadskalkyl för att sätta fyndigheten i produktion.
Skulle det visa sig att Cameco får släppa denna fyndighet till sitt öde pga de geologiska svårigheterna så kommer det med all sannolikhet att få ett stort genomslag på priset på uran samtidigt som det mycket väl kan vara starten på den omtalade "panic spike" i uranaktierna. Dvs när det uppstår en köppanik och ALLA skall in i dessa aktier. Flera råvarukunniga har uttalat sig om Cigar Lake och sagt att de tror att risken att Cameco får ge upp Cigarr Lake är stor. Personligen anser jag att det finns tillräckligt med fundamenta i uransektorn för kraftiga uppgångar även utan olyckan vid Cigar Lake. Vad detta kan göra är att skynda på köppaniken, inte att undvika den vid ett lyckligt utfall för Cameco. Gapet mellan konsumtion och produktion är enormt även om Cigar Lake sätts i produktion.
Cameco själva borrar just nu ned mot fyndigheten och tanken är att de skall kunna pumpa ned cement och på sås vis täppa till vattenflödet. Själva vattnet skall sedan pumpas ut från fyndigheten. Med tanke på hur höggradig malmen är så återstår det väl att se hur detta vatten skall tas omhand, de kan väl knappast bara släppa ut det i naturen. Det är svårt att inse vilka otroliga utmaningar som Camecos team står inför här men de lär göra allt som står i deras makt för att försöka rädda fyndigheten med tanke på storleken och graderna.
Neal Froneman, VD för SXR, om Cigar Lake i en intervju på Mineweb:
NEAL FRONEMAN: It is very relevant - and not only that. Alec, we have positioned the company, because we can, as a low technical risk company. Now part of the surge that you?ve seen in the uranium prices was caused by Cigar Lake, which was a high technical risk mine that failed to come into operation.
MINEWEB: Just explain that - what happened at Cigar Lake?
NEAL FRONEMAN: Well, at Cigar Lake they?re mining in sandstone. It?s a very difficult mining operation. They were still developing the mine, and the sandstone contains water, and they have to freeze the water around where they mine. They lost the freezing ability, they had a ground collapse, the mine flooded, and now it is just about impossible to de-water that mine and seal it off.
MINEWEB: And that?s in Canada?
NEAL FRONEMAN: That?s in Canada, in the Athabasca basin.
MINEWEB: How big a supplier was that going to be to the uranium market?
NEAL FRONEMAN: You know, that?s another very interesting thing. It was only about, at full production - and remember it takes a good few years to build up to full production as an underground mine - but at full production it was about 10% of the world?s consumption. Now what it really affected was perception, because here was one of the world?s best uranium companies and, I have to say, a very competent company, Cameco, that had a failure of this magnitude. And I think it just opened the end-users? eyes as to how difficult it?s going to be to see new uranium coming into production.
Dave Forest, skribent hos Casey om Cigar lake:
STOWE, Vermont (Casey Research Advertorial) -- The uranium industry is reeling. On October 23, Cameco, the world?s largest yellowcake producer, announced that its Cigar Lake mine had sprung a leak. Early attempts to seal the affected area failed, and the underground workings are now completely flooded.
This is a pivotal development. Cigar Lake is the world?s largest undeveloped uranium deposit, holding 232 million pounds U3O8 at a grade of 19%. Production from the mine was supposed to begin in early 2008; at peak, it was thought that the mine would have provided 17% of world uranium supply.
In short, this is one of the few projects that could make a significant difference for the uranium market? or, it was.
Cigar Lake?s future is now in doubt. Although Cameco?s management put on a brave face - saying they are "committed to develop plans to remediate the project" - we spoke with several uranium professionals in Saskatchewan who told us they now believe the mine may well be lost completely. At the very least, the flood will push back start-up for a minimum of one year, assuring that supply will be even tighter than anticipated over the next several years.
Considering that the market had little breathing room even with Cigar Lake?s supply, the situation verges on crisis. Especially in that a good deal of Cigar Lake?s output was already sold forward. Those buyers - who thought they had locked in supply - may well be forced to go to the spot market to buy. A further significant jump in the spot price over the coming weeks is a distinct possibility."
Mvh H3NPHLO
#1
Visst är det så att många inte är billiga, men samtidigt finns det flera guldkorn bland skaran.
Mvh H3NPHLO
#1
Uran är en klockren investering i dagsläget. Det förvånar mig att det inte pratas mer om detta på AG, trots att många anser att kvaliteten är högre är än på exempelvis BS.
En femåring skulle inte missa de fundamentala utsikterna för uran framöver, och det är enligt mig "kapitalförstöring" att inte investera i uran i dagsläget. Detta är ett unikt tillfälle att tjäna riktigt stora pengar med, relativt sett, låg risk.
Mvh liam
Vad hittar man bra information om vilka bolag som är inom Uran ?
Man blir ju intresserad, men jag är skeptisk av naturen. Om det nu är en sådan klockren investering, varför har inte marknaden redan prisat in den?
Momentum
Har gjort mitt bästa för att uppamma intresse för uran. Uppenbarligen med begränsad framgång. Se några strängar nedan.
Följande uranbolag handlar jag i: LAM.TO, UMN.TO, UPC.V, PWE.V, UUU.V samt EFR.V
Imorgon kommer VD´n för det senare bolaget till Stockholm och kommer att snacka på uranseminariet som Penser i samarbete med JF anordnar.
Inlägget är redigerat av författaren.
Björta, jag tackar ödmjukast för din snabba fina service!
Priset på uran har sjufaldigats sedan 2003 och småapararna jagar uran.
Momentum
#7
Här är lite andra länkar som kan vara av intresse:
http://www.iaea.org/Publications/Magazines/Bulletin/Bull401/art4_graphs.html
http://www.mineralstox.com/charts/default.asp?focus=262144&mode=10%2Dyear
Mvh liam
Ny när det gäller aktier, men jag undrar varför jag inte kan hitta alla Uran aktier som ni talar om. Köper mina genom swedbank. Gissar på att man får göra något annat när det gäller utlänska aktiebolag?
Mvh
Cameco Reports Progress on Remediation of Cigar Lake Project
SASKATOON, SASKATCHEWAN--(CCNMatthews - Jan. 25, 2007) - Cameco Corporation (TSX:CCO) (NYSE:CCJ) is making progress with a phased plan to restore the underground workings at Cigar Lake after a water inflow on October 23, 2006 flooded the underground development.
The first phase of the remediation plan involves drilling holes down to the source of the inflow and to a nearby tunnel where reinforcement may be needed, pumping concrete through the drill holes, sealing off the inflow with grout and drilling dewatering holes. Subsequent phases include dewatering the mine, ground freezing in the area of the inflow, restoring underground areas and resumption of mine development. Regulatory approval is required for each phase of the remediation plan.
Six of the 14 drill holes planned for reinforcing and sealing off the water inflow area are now complete.
Concrete will be poured in two locations - one near the rock fall to seal off the inflow area and another in a nearby tunnel to provide reinforcement. About 200 cubic metres of concrete has been poured in the reinforcement area. (See the diagram posted with this news release on Cameco´s website at cameco.com). The concrete mixture is designed to harden under water and will be poured in successive layers.
Experience gained through drilling the initial holes is reducing the time required for subsequent holes. Cameco expects to complete the work necessary to seal off the water inflow in the second quarter of 2007. This is a forward-looking statement. If any part of the following assumptions prove to be incorrect, it is possible that the water inflow may not be sealed off in the second quarter of 2007:
- The two drill rigs on site maintain the current pace of drilling, and
- The concrete hardens as planned to provide reinforcement and prevents or reduces water inflow to enable mine dewatering.
"We are overcoming the challenges related to drilling through the Athabasca sandstone and are now making steady progress toward sealing the inflow area," said senior vice-president Terry Rogers. "There are two drill rigs on site working around the clock and in February a third drill will be brought in for drilling the dewatering holes."
An additional four drill holes are planned for dewatering the mine. After some experience is gained with drilling the larger dewatering holes, we will be able to provide an estimate for their completion. This part of phase one is subject to regulatory approval and our application has been filed with the regulator.
Cameco is preparing a technical report for Cigar Lake to meet requirements under National Instrument 43-101 of the Canadian Securities Administrators, which regulates public company exploration and mining disclosure. The company expects to complete and publicly release the technical report in late March 2007. A technical report is required to support the disclosure of Cigar Lake remediation.
The content of Cameco´s Cigar Lake technical report is prescribed by National Instrument 43-101. The report will include information relating to the geology of the deposit, resource and reserve estimates, the remediation plan including projected timelines, the mining method, a new capital cost estimate (including an estimate of remediation costs) to bring the deposit into commercial production and a projected production ramp up. With the detailed information from this report, we will be able to determine if any Cigar Lake reserves will need to be reclassified from proven to probable as previously discussed. The report is being prepared under the supervision of Cameco technical experts who are qualified persons under National Instrument 43-101.
Cameco had previously planned to provide preliminary capital cost estimates and timelines for the remediation in February 2007. However, the information will now be available in late March 2007 in order to incorporate the more detailed information compiled in the technical report.
"Cigar Lake is an extremely valuable deposit that is expected to play a significant role not only in Cameco´s future but as part of the world´s uranium supply," Rogers said. "Given its importance, we believe taking extra time to develop our remediation plans and estimate costs is prudent."
There are about 280 people working on site including drilling personnel working on the remediation program. Work on surface facilities including water treatment plant, mine ventilation fan foundations and an electrical substation continues.
The Cigar Lake project is a joint venture owned by Cameco Corporation (50%), AREVA Resources Canada Inc. (37%), Idemitsu Canada Resources Ltd. (8%) and TEPCO Resources Inc. (5%). The project is located in northern Saskatchewan.
The scientific and technical information in this news release was prepared under the supervision of Barry Schmitke, a professional engineer and employed by Cameco as the general manager of the Cigar Lake project and is a qualified person for the purpose of National Instrument 43-101.
Cameco, with its head office in Saskatoon, Saskatchewan, is the world´s largest uranium producer. The company´s uranium products are used to generate electricity in nuclear energy plants around the world, providing one of the cleanest sources of energy available today. Cameco´s shares trade on the Toronto and New York stock exchanges.
Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: the impact of the sales volume of fuel fabrication services, uranium, conversion services, electricity generated and gold; volatility and sensitivity to market prices for uranium, conversion services, electricity in Ontario and gold; competition; the impact of change in foreign currency exchange rates and interest rates; imprecision in decommissioning, reclamation, reserve and tax estimates; environmental and safety risks including increased regulatory burdens and long-term waste disposal; unexpected geological or hydrological conditions; adverse mining conditions; political risks arising from operating in certain developing countries; terrorism; sabotage; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including tax and trade laws and policies; demand for nuclear power; replacement of production; failure to obtain or maintain necessary permits and approvals from government authorities; legislative and regulatory initiatives regarding deregulation, regulation or restructuring of the electric utility industry in Ontario; Ontario electricity rate regulations; natural phenomena including inclement weather conditions, fire, flood, underground floods, earthquakes, pit wall failure and cave-ins; ability to maintain and further improve positive labour relations; strikes or lockouts; operating performance, disruption in the operation of, and life of the company´s and customers´ facilities; decrease in electrical production due to planned outages extending beyond their scheduled periods or unplanned outages; success of planned development projects; and other development and operating risks.
Although Cameco believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this report. Cameco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Mvh H3NPHLO
"Cameco had previously planned to provide preliminary capital cost estimates and timelines for the remediation in February 2007. Cameco is preparing a technical report for Cigar Lake to meet requirements under National Instrument 43-101 of the Canadian Securities Administrators, which regulates public company exploration and mining disclosure. We expect to complete and publicly release the technical report in late March 2007. A technical report is required to support the disclosure of Cigar Lake remediation.
We plan to issue our next update on the status of Cigar Lake on March 1, 2007."
Mvh H3NPHLO
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Verkar hysteri över uransektorn, varför tycker allla att kanadaktier är så billiga?
Momentum