Cameco says its first quarter results show the company is well positions in a strengthening uranium market. President and CEO Tim Gitzel says, even with the temporary suspension of production at Cigar Lake, Blind River, and in Port Hope, the company is well positioned to manage the risk associated with these realities. He says, “We have $1.2 billion in cash, and short-term investments on our balance sheets, and a $1 billion undrawn credit facility,” which the company does not anticipate needing to draw on. The company is reporting a net loss of $19 million with adjusted net earnings of $29 million. Cameco says the COVID-19 pandemic has disrupted global uranium production, but the uranium market has started to respond. The spot price has increased by more than 35 per cent since March 23rd.