Gerry, the Cameco Cigar lake mine is a deep mine . Actually Cameco had trouble a couple of years ago with their Maclean River mine, also with flooding. The grade at Cigar Lake was about 24%. Hard to believe This news which isn't good for Cameco is great news for SMM and others, not trying to benefit from someone elses problems. However even Cameco shares were up over a Dollar last night in Toronto because they also will benefit from higher prices though they have alot of long term contracts. The flooding as I heard it is getting worse. By the way I forgot to mention that SMM has about 18 million in cash plus and extra 5 million from their JV partner which is probably PDN now. I know you know all this info already Gerry.
SMM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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