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<SEC-DOCUMENT>0001130319-04-000365.txt : 20040517
<SEC-HEADER>0001130319-04-000365.hdr.sgml : 20040517
<ACCEPTANCE-DATETIME>20040517170852
ACCESSION NUMBER:		0001130319-04-000365
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040517
FILED AS OF DATE:		20040517

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAMECO CORP
		CENTRAL INDEX KEY:			0001009001
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				980113090
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14228
		FILM NUMBER:		04813442

	BUSINESS ADDRESS:	
		STREET 1:		2121 11TH ST W
		CITY:			SASKATOON
		STATE:			A9
		ZIP:			S7M 1J3
		BUSINESS PHONE:		3069566200

	MAIL ADDRESS:	
		STREET 1:		2121 11TH ST W.
		CITY:			SASKATOON
		STATE:			A9
		ZIP:			S7M 1J3
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
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<FILENAME>o13054e6vk.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 6-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<HR size="4" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -10px">





<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 6-K</B>


<P align="center" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Report
of Foreign Private Issuer<BR>
Pursuant to Rule&nbsp;13a-16 or 15d-16<BR>
Under the Securities Exchange Act of 1934</B>


<P align="center" style="font-size: 10pt">For the month of May, 2004


<DIV align="center" style="font-size: 24pt"><B>Cameco Corporation</B>
</DIV>

<P align="center" style="font-size: 10pt">(Commission file No.&nbsp;1-14228)



<P align="center" style="font-size: 10pt"><B>2121-11th Street West<BR>
Saskatoon, Saskatchewan, Canada S7M 1J3</B><BR>
(Address of Principal Executive Offices)


<P align="left" style="font-size: 10pt">Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.


<P align="center" style="font-size: 10pt">Form&nbsp;20-F&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;<FONT face="Wingdings">&#254;</FONT>

<P align="left" style="font-size: 10pt">Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule&nbsp;12g3-2(b) under the Securities Exchange Act of
1934.

<P align="center" style="font-size: 10pt">Yes&nbsp;<FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;<FONT face="Wingdings">&#254;</FONT>

<P align="left" style="font-size: 10pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant
in connection with Rule&nbsp;12g3-2(b):



<P>
<HR size="1" noshade color="#000000" style="margin-top: -2px">
<HR size="4" noshade color="#000000" style="margin-top: -10px">






<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">Exhibit&nbsp;Index</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">Cameco Announces Preliminary Prospectus Filing for New Gold Company</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>






<!-- link1 "Exhibit&nbsp;Index" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Exhibit&nbsp;Index</B>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="79%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>Description</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Page No.</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated
May&nbsp;14, 2004
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3 - 5</TD>
</TR>

<!-- End Table Body --></TABLE>
</DIV>


<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>


<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" nowrap valign="top">Date: May 17, 2004</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" valign="top">Cameco Corporation</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&#147;Gary M.S. Chad&#148;</I>
<HR size="1" noshade width="70%">
Gary M.S. Chad<BR>
Senior Vice-President, Law,<BR>
Regulatory Affairs and<BR>
Corporate Secretary</TD>
</TR>

<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "Cameco Announces Preliminary Prospectus Filing for New Gold Company" -->
<DIV align="left"><A NAME="002"></A></DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="68%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Share</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Listed</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Symbol</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">TSX<BR>
NYSE
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">CCO<BR>CCJ
</TD>
    <TD align="center"><IMG src="o13054cameco.gif" alt="(Cameco Logo)"></TD>
    <TD align="right" valign="top"><B>web site address:</B><BR>
<U>www.cameco.com</U>
</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<P align="center" style="font-size: 10pt">2121 &#151; 11<SUP>th</SUP> Street West, Saskatoon, Saskatchewan, S7M 1J3 Canada<BR>
Tel: (306)&nbsp;956-6200 Fax: (306)&nbsp;956-6201



<P align="center" style="font-size: 10pt"><B>NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES<BR>
OR DISSEMINATION IN THE UNITED STATES</B>



<P align="center" style="font-size: 10pt"><B>Cameco Announces Preliminary Prospectus Filing for New Gold Company</B>


<P align="left" style="font-size: 10pt">Saskatoon, Saskatchewan, Canada, May&nbsp;14, 2004 . . . . . . .


<P align="left" style="font-size: 10pt"><B>Cameco Corporation </B>is proceeding with the transfer of its gold assets held by
its subsidiary Cameco Gold Inc. to a new Canadian company called Centerra Gold
Inc. which today filed a preliminary prospectus with the securities regulatory
authorities in each of the provinces and territories of Canada in connection
with an initial public offering and secondary offering of its common shares.


<P align="left" style="font-size: 10pt">The proposed offering is being conducted in conjunction with the previously
announced restructuring of the ownership interests in the Kumtor gold mine
located in the Kyrgyz Republic, and the reorganization of Cameco Gold&#146;s other
gold assets. Following the Kumtor restructuring, but prior to the offering and
the other transactions referred to below, Cameco Gold will initially hold 67%
of Centerra, and Kyrgyzaltyn JSC, a private company wholly-owned by the
government of the Kyrgyz Republic, will initially hold 33% of Centerra.


<P align="left" style="font-size: 10pt">Centerra will be a growth-oriented, Canadian-based gold company focused on
acquiring, exploring, developing and operating gold properties primarily in
Central Asia, the former Soviet Union and other emerging markets. &#147;Cameco fully
supports this strategic vision as a means to create value for our
shareholders,&#148; said Jerry Grandey, Cameco&#146;s president and chief executive
officer.&#148;


<P align="left" style="font-size: 10pt">In connection with the Kumtor restructuring, International Finance Corporation
(IFC)&nbsp;and the European Bank for Reconstruction and Development (EBRD)&nbsp;have
agreed to exchange debt they hold in a subsidiary of Centerra for a combination
of 5.1% of the total outstanding common shares of Centerra prior to the
offering and the transaction referred to below, and cash.


<P align="left" style="font-size: 10pt">Also, concurrently with the offering, Centerra will make an offer to acquire
the minority interest in its Boroo mine and other exploration properties in
Mongolia, in exchange for Centerra common shares. If the offer is accepted by
all of the minority shareholders, they will hold approximately 8% of the total
outstanding common shares of Centerra prior to the offering. Centerra has an
agreement with Central Asia Gold Limited (CGX)&nbsp;which holds approximately three
quarters of this minority interest. Under the terms of that agreement, CGX has
agreed to accept Centerra&#146;s offer subject to obtaining approval by its
shareholders.



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt">The initial public offering is expected to consist of an offering by Centerra
of its common shares from treasury together with a secondary offering of
Centerra common shares by Kyrgyzaltyn.


<P align="left" style="font-size: 10pt">Cameco Gold expects to hold more than 50% of Centerra&#146;s shares following the
offering. However, Cameco has not established any long-term minimum holding of
common shares with respect to this investment.


<P align="left" style="font-size: 10pt">The details of the offering, including the offering price of Centerra&#146;s shares,
are expected to be determined before the end of June&nbsp;2004. The offering is
expected to close in late June or early July of 2004.


<P align="left" style="font-size: 10pt">Centerra intends to use the proceeds of the offering it receives to fund
development and exploration initiatives, to terminate hedging arrangements, to
pay the cash amounts to the IFC and EBRD referred to above, for general
corporate purposes, including for working capital and to fund acquisitions.


<P align="left" style="font-size: 10pt">The offering is being underwritten by a syndicate of underwriters jointly led
by CIBC World Markets Inc. and BMO Nesbitt Burns Inc. and includes RBC Capital
Markets, Canaccord Capital Corporation, GMP Securities Ltd., HSBC Securities
(Canada) Inc., Scotia Capital Inc. and Salman Partners Inc.


<P align="left" style="font-size: 10pt">The securities referenced by this news release have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or applicable
exemption from registration requirements. This news release does not constitute
an offer to sell or the solicitation of an offer to buy common shares of
Centerra Gold Inc. in any jurisdiction.


<P align="left" style="font-size: 10pt"><B>Cameco Profile</B>


<P align="left" style="font-size: 10pt">Cameco, with its head office in Saskatoon, Saskatchewan, is the world&#146;s largest
uranium producer. The company&#146;s uranium products are used to generate
electricity in nuclear energy plants around the world.


<P align="left" style="font-size: 10pt"><B>Forward-Looking Information</B>


<P align="left" style="font-size: 10pt">Statements contained in this news release which are not historical facts are
forward-looking statements that involve risks, uncertainties and other factors
that could cause actual results to differ materially from those expressed or
implied by such forward-looking statements. Cameco can give no assurance that
the Centerra offering will be completed. Factors that could cause actual
results or events to differ materially from current expectations include:
volatility and sensitivity to market prices for gold; the impact of the sales
volume of gold; competition; the impact of change in foreign currency exchange
rates and interest rates; imprecision in reserve estimates; environmental and
safety risks including increased regulatory burdens; unexpected geological or
hydrological conditions; adverse mining conditions, political risks arising
from operating in certain developing countries; changes in government
regulations and policies, including trade laws and policies; replacement of
production and failure to obtain necessary permits and approvals from government authorities; weather and other natural
phenomena;
ability to maintain and further improve positive labour relations; operating
performance of the facilities; success of planned development projects; and
other development and operating risks.



<P align="center" style="font-size: 10pt">2
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt">Although Cameco believes that the assumptions inherent in the forward-looking
statements are reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this report. Cameco disclaims
any intention or obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.



<P align="center" style="font-size: 10pt">- End -


<P align="left" style="font-size: 10pt">Please note that Cameco is restricted in the information it can provide until
after the Centerra IPO is closed.


<P align="left" style="font-size: 10pt"><B>Inquiries: </B>Lyle Krahn (306)&nbsp;956-6316




<P align="center" style="font-size: 10pt">3
</DIV>

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