Cameco’s consolidated financial and operating results for the second quarter, records a net loss of $37 million. The company says the results are driven by normal quarterly variations in contract deliveries, the continued execution of the company’s strategy, and the additional care and maintenance costs of $8 million resulting from the suspension of production at the Cigar Lake mine for about four months until its restart in mid-April.

Tim Gitzel, Cameco’s president and CEO says, “Despite the near-term costs of our strategy and associated with the precautionary production suspensions at Cigar Lake, we have a strong balance sheet. We ended the quarter with about $1.2 billion dollars in cash.”