Cameco Corporation reports that remediation work at the No.1 Shaft at its Cigar Lake uranium project was temporarily suspended today after an increase in the rate of water inflow to the mine was observed.
“Remediation and dewatering of the No. 1 Shaft had been progressing smoothly up to this point,” said Tim Gitzel, Cameco’s chief operating [...]

United Uranium Corp. announced that it has completed a property acquisition on the eastern side of the Athabasca Basin, Saskatchewan. The Cleveland Island property is located approximately 30 miles east - northeast of Hathor’s Roughrider zone. This most recent acquisition covers 987 ha of land in the Wollaston Lake area. The Company holds a [...]

Monroe Minerals Inc. is pleased to announce the appointment of independent advisors to its uranium division in Africa and Canada. The role of these advisors will be to review new uranium projects, assist with program planning and implementation, and analyse exploration results.
In Africa, Monroe has appointed The Mineral Corporation. The Mineral Corporation is a leading [...]

Ur-Energy Inc. is pleased to announce the signing of a letter of intent with Titan Uranium Incorporated whereby Ur-Energy can earn up to an undivided 51% working interest in Titan’s R-Seven and Rook I properties by funding Cdn $9 million in exploration programs managed by Titan over a 4-year earn in period. Diamond drilling of [...]

Cameco Corp., the world’s largest uranium producer, said first-quarter profit fell 47 percent from a year earlier, when utilities stocked up on the metal. Cameco forecast higher sales in the second quarter.
Net income fell to C$59 million ($53 million), or 16 cents a share, from C$112 million, or 30 cents, a year earlier, Saskatoon, Saskatchewan-based [...]

RIO Tinto Energy America has changed its mind about selling its Sweetwater uranium mill and associated assets in Wyoming after significant changes in the worldwide market for uranium in the past six months.
Since July, the uranium price has risen 60% to $72/lb.
The price accelerated after October because of flooding at Cameco’s developing uranium mine at [...]

Rio Tinto PLC scrapped a deal with sxr Uranium One Inc., deciding instead to keep its U.S. uranium assets and signalling a significant shift in attitude toward the radioactive metal by one of the world’s largest mining companies.
London-based Rio Tinto entered into exclusive negotiations in July to sell its Sweetwater uranium mill and Green Mountain [...]

From President George W. Bush’s push to ramp up the country’s nuclear industry to Asia’s growing uranium demand to the catastrophic disaster at Cigar Lake, yellowcake has seen an extremely bullish year. And analysts are calling for an even better year in 2007.
Uranium began the year at about $36.25/lb. Today’s weekly price is $72.00/lb, showing [...]

Scotiabank Vice President, Industry and Commodity Market Research Patricia Mohr has forecast uranium and zinc as her top picks for investors in 2007, with precious metals, particularly silver, expected to benefit from further weakness in the U.S. dollar.
In her recently published analysis, Mohr said uranium was the third-best performing commodity this year “and will likely [...]

Merrill Lynch & Co. raised its 2008 uranium price forecast by 78 percent, citing delays in new mine output and increased demand for the fuel from nuclear reactors being built in China and India.
Uranium for immediate delivery may average $75 a pound in 2007 and $80 in 2008, Merrill said in a Dec. 8 report. [...]