Cameco experienced a $13-million loss in the third quarter, with revenue dropping 38 per cent compared to the same time period last year.

CEO Tim Gitzel says the uranium mining company is focused on the long term.

He says despite the fact the price for ore is too low to re-open McArthur River and Key Lake, the demand cycle is on the upswing.
Gitzel is confident the uranium market is heading for a transition, and when that happens the mines will re-open.