It's the perfect time to be a predator with most Uranium explorers near all time lows.
Cameco don't think these bargains are going to be around for ever.
REUTERS:
Cameco, a top global uranium producer, has offered to buy excess material from Japanese utilities, but they are not selling, said Chief Executive Tim Gitzel, speaking at the Reuters Mining and Steel Summit from Saskatoon, Saskatchewan.
That has Cameco confident that Japan will bring at least a portion of its reactor fleet back online in the near future.
"I think over the next months we'll start to see some reactors come back on," said Gitzel. "It will be a slow process, but eventually they'll bring those back on."
While a few utilities have asked to defer deliveries over the last year, none have moved to reduce their inventories, he added, noting that Cameco's Japanese partners remain committed to developing new mines.
"We're partners with some of the Japanese utilities in some mining projects," said Gitzel. "We've talked to them about whether they're staying in the game and indeed they are staying in. They're continuing to invest in exploration."
"I think that's positive news for the Japanese fleet going forward," he added.
BLR Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
