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<SEC-DOCUMENT>0001130319-08-000540.txt : 20080707
<SEC-HEADER>0001130319-08-000540.hdr.sgml : 20080704
<ACCEPTANCE-DATETIME>20080707153744
ACCESSION NUMBER:		0001130319-08-000540
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080707
FILED AS OF DATE:		20080707
DATE AS OF CHANGE:		20080707

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:		08940925

	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
<SEQUENCE>1
<FILENAME>o41260e6vk.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<HEAD>
<TITLE>e6vk</TITLE>
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<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

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

<DIV align="center" style="font-size: 18pt; margin-top: 15pt"><B>FORM 6-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Report of Foreign Private Issuer<BR>
Pursuant to Rule&nbsp;13a-16 or 15d-16 Under<BR>
the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">For the month of July, 2008
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 15pt"><B>Cameco Corporation</B>
</DIV>

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



<DIV align="center" style="font-size: 10pt; margin-top: 24pt"><B>2121 &#150; 11th Street West<BR>
Saskatoon, Saskatchewan, Canada S7M 1J3</B>
<DIV style="font-size: 3pt; margin-top: 4pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV>
(Address of Principal Executive Offices)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 18pt">Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form&nbsp;20-F&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form&nbsp;40-F&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt">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.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
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    <TD width="45%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Yes&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">No&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with
Rule&nbsp;12g3-2(b): <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>



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

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Exhibit&nbsp;Index</B></U>
</DIV>

<DIV align="center" style="margin-top: 6pt">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="76%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Page No.</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Material Change Report, July&nbsp;7, 2008
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3 &#150; 5</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 36pt"><B>SIGNATURE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 9pt">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>

<DIV align="center" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="left">Date:&nbsp;&nbsp;July 7, 2008&nbsp;</TD>
    <TD colspan="3" align="left"><B>Cameco Corporation</B><BR>
&nbsp;<BR>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>&#147;Gary M.S. Chad&#148;</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Gary M.S. Chad, Q.C.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Senior Vice-President, Governance,<BR>
Law and Corporate Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>
</DIV>

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

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM 51-102F3<BR>
MATERIAL CHANGE REPORT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><B>Item&nbsp;1 &#151; Name and Address of Company</B>
</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 5%">Cameco Corporation (&#147;Cameco&#148;)<BR>
2121 &#150; 11<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Street West, Saskatoon, Saskatchewan S7M 1J3
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Item&nbsp;2 &#151; Date of Material Change</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 5%">June&nbsp;27, 2008
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Item&nbsp;3 &#151; News Release</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 9pt">The English version and the French translation version of the news release relating to this
material change were distributed and filed by CCN Mathews through their Canadian Timely Disclosure
Pack and U.S. Timely Disclosure Pack on June&nbsp;27, 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Item&nbsp;4 &#151; Summary of Material Change</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 9pt">Cameco received regulatory approval to pump water out of the flooded Cigar Lake mine.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Item&nbsp;5 &#151; Full Description of Material Change</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 9pt">See Schedule &#147;A&#148; attached.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Item&nbsp;6 &#151; Reliance on subsection 7.1(2) or (3)&nbsp;of National Instrument 51-102.</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 5%">Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Item&nbsp;7 &#151; Omitted Information</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 5%">Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Item&nbsp;8 &#151; Executive Officer</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 5%">Gary M.S. Chad<BR>
Senior Vice-President, Governance, Law and Corporate Secretary<BR>
Cameco Corporation<BR>
(306)&nbsp;956-6303
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Item&nbsp;9 &#151; Date of Report</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 4%">July&nbsp;7, 2008
</DIV>

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

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 12pt; margin-top: 18pt"><B>Schedule &#147;A&#148;</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Cameco Updates Progress at Cigar Lake</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Saskatoon, Saskatchewan, Canada, June&nbsp;27, 2008
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Cameco Corporation announced today it continues to make progress with remediation at the<BR>
Cigar Lake uranium project.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cameco previously submitted an application to the Canadian Nuclear Safety Commission
(CNSC)&nbsp;to allow dewatering of the underground development and all other remediation activities
leading up to, but not including, the restart of construction underground.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The CNSC and the Saskatchewan Ministries of Environment and Advanced Education,
Employment and Labour have approved Cameco&#146;s plans to pump the water out of the mine and
to inspect and safely secure the mine once it is pumped out.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The remainder of the remediation activities specified in the application, including completion of
the second shaft and other activities, are under regulatory review. A public hearing before the
CNSC is scheduled for September&nbsp;18, 2008 to formally consider the application.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As previously reported, in February&nbsp;2008, the underground seal was found effective in a test
consisting of lowering the water level in the shaft to 100 metres below surface. In addition, as
reported in the first quarter report of 2008, Cameco completed an assessment of two areas of the
mine and determined that no additional reinforcement or other precautionary measures were
required prior to dewatering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We expect to pump water out of the mine over several months beginning next week. This will
allow us to equip the mine shaft with a ladderway, ventilation ducting, power and
communication cables, water pipes and other necessary equipment as the water level goes down.
The integrity of the plug will also be assessed at each stage of the process.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We continue to anticipate production startup in 2011 at the earliest. We will be able to provide a
firmer production date after the water has been pumped out of the mine, the condition of the
underground development has been assessed, and the findings incorporated in the new mine
development and production plans.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cameco owns 50% and is operator of the Cigar Lake project located in northern Saskatchewan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Caution Regarding Forward-Looking Information and Statements</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The above Cigar Lake expected production date and certain other statements regarding our plans
and expectations for the dewatering and resumption of production are forward-looking
information and are based upon the following key assumptions and subject to a number of
factors that could cause results to differ materially:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we have assumed that our remediation plan and our plans to complete the partially completed
second shaft and underground development will succeed and be completed in a timely manner, but
that is subject to a number of risks including that the plans do not work as anticipated or
takes longer to complete due to construction and other delays;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we have made certain assumptions regarding the timing of regulatory approvals, including for
conducting surface construction and remediation activities, completing the second shaft, re-
commencing underground development and commencing production, but that is subject to a number of
risks including that the regulatory approvals take longer to obtain than anticipated;</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

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<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we have assumed that information regarding the condition of the existing underground
workings, which condition will not be known until the mine has been dewatered, will not
adversely impact our mine and development and production plans in a material way, but that is
subject to a number of risks including that underground workings are materially damaged
causing material delays to our plans; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we have assumed there is no disruptions to our plans due to among other things: natural
phenomena, such as fires, floods or cave-ins; the occurrence of another water inflow at Cigar
Lake; failure of our radiation protection plans; labour disputes; litigation or arbitration
proceedings; delay in obtaining or failure to procure the required equipment, operating parts
and supplies; equipment failure; a delay in or an inability to obtain the necessary permits
and approvals; failure to adhere to regulatory permits and approvals; unexpected geological
conditions, including weak ground conditions, or unexpected hydrological conditions, including
due to the failure to control ground water; and adverse ground conditions (Cigar Lake risks).
The Company is subject to the risk that one or more of the Cigar Lake risks may occur as well
as other development or operating risks associated with Cigar Lake, which is a challenging
deposit to develop and mine.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If actual results differ materially from the assumptions set out above or if any of the material
factors above occur, the Cigar Lake production restart date may differ materially from the expected
date that is stated above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Although Cameco believes the assumptions inherent in these forward-looking statements are
reasonable, undue reliance should not be placed on these statements which only apply as of the date
of this news release. Cameco disclaims any intention or obligation to update or revise any
forward-looking statement, whether as the result of new information, future events or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Qualified person</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The above scientific and technical information for Cigar Lake was prepared under the supervision of
C. Scott Bishop, a professional engineer employed by Cameco as the chief mine engineer of the Cigar
Lake project and a qualified person for the purpose of National Instrument 43-101.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt"><B>Profile</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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, providing one of the cleanest sources of energy available today. Cameco&#146;s shares trade on
the Toronto and New York stock exchanges.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 24pt">- End -
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Investor inquiries: </B>Bob Lillie (306)&nbsp;956-6639<BR>
<B>Media inquiries: </B>Lyle Krahn (306)&nbsp;956-6316<BR>&nbsp;

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>



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