On Monday, Cameco filed a short form base shelf prospectus for $1.5B US.
This means Cameco now has 25 months to sell shares, options, warrants, debt, and others as it pleases for the total amount of $1.5B US.
Many theories, speculations, and rumours are being shared on Twitter, but as of yet it is unclear whether Cameco will use the money – if it actually chooses to raise it – to buy physical uranium to fulfil its contractual obligations, take over a junior, joint venture with a developer, develop a uranium conversion plant, or try to become a uranium enrichment “major” in the West, though all of the above are possible considering they are in good financial standing.
As of Cameco’s latest financial statements, the company has roughly $1B US in cash and cash equivalents, and another $750K US under a credit facility that they can withdraw as they please. If they opt for raising the total of that $1.5B US, that would bring their total available cash to $3.25B US ($4.5B CAD).