Cameco extends production suspension at cigar lake mine; withdraws outlook

Cameco extends production suspension at cigar lake mine and withdraws outlook.cameco corp - are withdrawing our outlook for 2020.cameco corp - determined that cigar lake workforce will need to remain at its current reduced level for a longer duration.cameco corp - at december 31, 2019 had $1.2 billion in cash and $1 billion in long-term debt with maturities in 2022, 2024 and 2042.cameco corp - will keep cigar lake facility in safe care and maintenance for an indeterminate period.cameco corp - have a $1 billion undrawn credit facility.cameco corp - orano has also decided to extend temporary production suspension at its mcclean lake mill..cameco corp - expect cash balances and operating cash flows to meet capital requirements during 2020.cameco corp - do not anticipate drawing on credit facility.cameco corp - covid-19 pandemic has disrupted global uranium production.cameco corp - believe risk to uranium supply is greater than risk to uranium demand.cameco corp - balance sheet remains strong, and believe are well positioned to self-manage risk.
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