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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 Under
the Securities Exchange Act of 1934
For the month of November, 2007
Cameco Corporation
(Commission file No. 1-14228)
2121 11th Street West
Saskatoon, Saskatchewan, Canada S7M 1J3
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.
Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b):
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Exhibit Index
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Exhibit No. |
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Description |
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Page No. |
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1.
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Press Release dated
November 28, 2007
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3 - 4 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Date: November 28, 2007 |
Cameco Corporation
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By: |
"Gary M.S. Chad"
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Gary M.S. Chad, Q.C. |
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Senior Vice-President, Governance,
Law and Corporate Secretary |
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TSX: CCO
NYSE: CCJ
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website: cameco.com
currency: Cdn |
2121 11th Street West, Saskatoon, Saskatchewan, S7M 1J3 Canada
Tel: (306) 956-6200 Fax: (306) 956-6201
Cameco Temporarily Reduces Underground Activities at Rabbit Lake
Saskatoon, Saskatchewan, Canada, November 28, 2007. . . . . . . . . . . . . .
Cameco Corporation announced today that underground activities at the Eagle Point mine at the
Rabbit Lake operation have been temporarily reduced as a precautionary measure.
The mine experienced an increase of water flow from a mining area at the same time as the capacity
of the surface water-handling system was reduced due to an equipment upgrade. Limited mining
activity will continue and the mill continues to operate with a small amount of stockpiled ore.
This mine has encountered similar situations in the past and dealt with them successfully.
Camecos regulators were notified of developments today. There are no safety or environmental
issues associated with this event.
Increased water inflow is estimated at 40 to 50 cubic metres per hour. The mine has more than
sufficient pumping capacity to deal with these levels. However, the capacity of the surface
water-handling system is temporarily reduced due to previously planned upgrading that was already
underway. In addition, the mines designated water storage capacity, primarily in mined out areas
underground, is sufficient to hold more than three months of the additional inflow entering the
mine. The planned upgrades to the surface water-handling system are expected to be complete in
about one week at which time the mine will return to normal operations.
The water flow increase was from an area being mined about 90 metres below surface. All mining
activities appeared normal until additional water began flowing into the area. Site crews are
following customary procedures to stop the inflow.
The rock around the area is stable and Camecos geotechnical engineers have found no evidence of
weakness. The entire Eagle Point mine is located in stable, basement rock and is accessed by a ramp
from surface. The company uses an open stope mining method in which the ore is drilled and blasted
from a tunnel above and falls to a lower level. It is then picked up by scoop trams and transported
by truck to surface.
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In 2007, Cameco has already produced 3.6 million pounds of uranium at Rabbit Lake and estimates
annual production will be 3.8 to 4.0 million pounds.
Cameco, with its head office in Saskatoon, Saskatchewan, is the worlds largest uranium producer.
The companys uranium products are used to generate electricity in nuclear energy plants around the
world, providing one of the cleanest sources of energy available today. Camecos shares trade on
the Toronto and New York stock exchanges.
Statements contained in this news release, which are not historical facts, are forward-looking
statements that involve risks, uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such forward-looking statements. Factors that
could cause such differences, without limiting the generality of the following, include: the impact
of the sales volume of fuel fabrication services, uranium, conversion services, electricity
generated and gold; volatility and sensitivity to market prices for uranium, conversion services,
electricity in Ontario and gold; competition; the impact of change in foreign currency exchange
rates and interest rates; imprecision in decommissioning, reclamation, reserve and tax estimates;
environmental and safety risks including increased regulatory burdens and long-term waste disposal;
unexpected geological or hydrological conditions; adverse mining conditions; political risks
arising from operating in certain developing countries; terrorism; sabotage; a possible
deterioration in political support for nuclear energy; changes in government regulations and
policies, including tax and trade laws and policies; demand for nuclear power; replacement of
production; failure to obtain or maintain necessary permits and approvals from government
authorities; legislative and regulatory initiatives regarding deregulation, regulation or
restructuring of the electric utility industry in Ontario; Ontario electricity rate regulations;
natural phenomena including inclement weather conditions, fire, flood, underground floods,
earthquakes, pit wall failure and cave-ins; ability to maintain and further improve positive labour
relations; strikes or lockouts; operating performance, disruption in the operation of, and life of
the companys and customers facilities; decrease in electrical production due to planned outages
extending beyond their scheduled periods or unplanned outages; success of planned development
projects; and other development and operating risks.
Although Cameco believes that the assumptions inherent in the forward-looking statements are
reasonable, undue reliance should not be placed on these statements, which only apply as of the
date of this report. Cameco disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.
- End -
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Investor and media inquiries:
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Alice Wong
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(306) 956-6337 |
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Investor inquiries:
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Bob Lillie
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(306) 956-6639 |
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Media inquiries:
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Lyle Krahn
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(306) 956-6316 |