International banks loan Cameco $650 million

Cameco’s most important initiative for the near future is to go public sometime in 1989. Gatenby has said the first public offering of Cameco stock will likely raise in the order of $200 million.

The banking consortium was led by the Toronto Dominion Bank and the Bank of Montreal. Both European and Japanese banks are also taking part.

The largest uranium producer in the world, Cameco has varying interests in three operating uranium mines in Saskatchewan. A major interest is also held in Cigar Lake, the largest and richest undeveloped uranium deposit in the world. Other mining interests include control of the Star Lake gold mine in Saskatchewan and interests in a large portfolio of gold, polymetallic and uranium properties throughout northern Saskatchewan and Ontario.

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