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Hong Kong stocks shock | CGN Mining (01164) now rose more than 4%, Niger uranium mine restart may be delayed, the company is expected to benefit from the rise in uranium prices.
Zhongguo Guangdian He Kuangye (CGN Mining) (01164) rose more than 4% and as of press time, rose by 4.02% to HKD 2.59 with a turnover of HKD 16.9184 million. China Post Securities stated that the price of uranium this week is hovering around $85/pound, basically confirming a stage bottom. On the supply side, the military government of Niger has cancelled the operating rights of Orano Company's local uranium mine. The mine has been shut down since September last year and is the main uranium mine in Niger. This move may extend the expectation of uranium mine resumption, and the uranium mine will maintain a tight situation. As for demand, the U.S. Congress passed the largest clean energy bill since the Biden climate bill.
Paladin's Fission Acquisition Brings Big New China Customer, Shareholder -- Market Talk
0439 GMT - Paladin's proposed $833 million all-scrip acquisition of Canada's Fission Uranium will bring in CGN, one of China's top nuclear-power companies, as a new customer and shareholder, Macquarie
Hong Kong stocks surge | CGN Mining (01164) rose more than 4%. The USA passed a bill to support the deployment of advanced nuclear energy and the supply-demand gap of uranium will continue.
Zhongguancun Mining (01164) rose more than 4% according to the Wisdom Finance APP. As of publication, it was up 3.65% to HKD 2.84, with a turnover of HKD 19.1021 million. In terms of news, the US Senate passed the Advanced Nuclear Energy Deployment Act, aimed at strengthening and increasing the US domestic nuclear power installation. It is still awaiting President Biden's signature to take effect. Zhongtai International pointed out that the contents of the bill include reducing regulatory fees, speeding up the approval of new nuclear reactor applications, and so on. It is expected to benefit the uranium mining and nuclear power equipment industry, supporting uranium prices and indirectly benefiting CGN Mining. Minsheng Securities pointed out that the Fukushima nuclear leak incident in Japan in 2011 had an impact on the entire industry.
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Hong Kong stocks fluctuate | CGN Mining (01164) fell more than 4%, as uranium prices fluctuated at high levels and the construction and restart of nuclear power plants continued to accelerate.
According to the Zhixin Finance APP, CGN Mining (01164) fell more than 4%, with a decline of 4.12% as of press time, at HKD 2.56, with a turnover of HKD 31.9024 million. In terms of news, according to Numerco data, the closing price of uranium on June 13, 2024 was USD 85 per pound, a decrease of 3.13% compared with the previous week (June 6, 2024). Shanxi expressed that in the past five years, the price of uranium has risen by 233%. After a slight drop this year, it still rose more than three times as much as gold and copper. The bank pointed out that there are currently 61 nuclear power plants under construction globally, with about 90 in planning.
Why We Think The CEO Of CGN Mining Company Limited (HKG:1164) May Soon See A Pay Rise
Key Insights CGN Mining to hold its Annual General Meeting on 20th of June Total pay for CEO Junjing An includes HK$950.0k salary The total compensation is 33% less than the average for the indust
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