On Monday, Shares of Central Fund of Canada Limited (USA)(NYSEMKT:CEF), subtract -4.28% and closed at $12.08 in the last trading session. The last trading range of the stock ranges between $12.04 and $12.50.
Cameco Corporation (USA)(NYSE:CCJ), jumped 1.84% and closed at $8.87 in the last trading session. The last trading range of the stock ranges between $8.70 and $8.88. The company’s Market capitalization is $3.42 Billion with the total Outstanding Shares of 395.79 million. Cameco (CCO.TO)(CCJ) recently stated its merged financial and operating results for the third quarter ended September 30, 2016 in accordance with International Financial Reporting Standards (IFRS).
“Uranium prices are at the lowest levels we’ve seen in over a decade, and that’s making for difficult times in our market” said president and CEO, Tim Gitzel. “However, the strength of our long-term contract portfolio continues to keep our average realized price well above the weak market price.
“While we can’t control the market, we’re not idly waiting for the recovery we see coming. We’ve flexed our production levels, we’ve optimized our contract portfolio, and we’ve identified efficiencies within our business to streamline and adapt the company to the current conditions. We’ve taken noteworthyactions and we’re continuing to make the changes necessary to remain competitive in a depressed environment. We are confident that our strategy will assist us effectively manage through these low times, while positioning the company to benefit as the market improves and additional uranium is required to meet demand over the long term.”
McEwen Mining Inc (NYSE:MUX), gained 7.12% and closed at $2.86 in the last trading session. The last trading range of the stock ranges between $2.51 and $2.88. Company stock’s 52-week range is $0.81 – $4.92 McEwen Mining Inc. (MUX) (MUX) is happy to declare the appointment of Xavier Ochoa to President and Chief Operating Officer (“COO”). Xavier joined the Company this past September, 2016 as McEwen Mining’s COO (see news release dated September 9, 2016).
The change in administration represents a noteworthystep towards reaching our operational aims and further advancing our portfolio of projects. Xavier brings over 25 years of international experience in the mining industry, counting senior administration positions where he was instrumental for leading project and operational teams, both underground and open pit.
In Mexico, we have an extensive land package with numerous small scale historic areas of mine production throughout the property package. A new geological interpretation making use of advanced geophysics and information collected from exploration work has been developed for our El Gallo property which confirms the geological potential. Recent work has demonstrated encouraging results at the El Encuentro – La Revancha Zone (see news release dated October 13, 2016). The Company has recently begun to demonstrate the prospective nature and potential longevity of mining within the El Gallo District. Under Xavier’s direction, we will continue to implement this program with the aim of extending the mine life at El Gallo Complex.