Market Insight | CGN MINING Soars Over 13% in Early Trading, Amazon Invests Over $500 Million in Developing Nuclear Power Supply Systems
CGN MINING rose more than 13% in early trading, up 10.56% as of the time of publication, at HKD 1.78, with a turnover of HKD 57.4605 million. On the news front, on October 16th, Amazon announced an agreement with the power company Dominion Energy to explore the possibility of developing small modular nuclear reactors near the existing North Anna nuclear power plant. Amazon is the latest large technology company to purchase nuclear energy to meet the growing demand of data centers, with an investment of over $500 million in this field. Google and Microsoft have also announced similar plans. Zheshang Securities previously pointed out that CGN MINING is the investment and financing platform for overseas uranium resource development under China's largest nuclear power group, CGN Group. Driven by the current nuclear power recovery cycle, the supply and demand situation for natural uranium continues to tighten, and uranium prices are expected to continue to rise. We are optimistic about the company's stable natural uranium demand guarantee under CGN Group, and with the support of existing high-quality resources, continue to explore high-quality uranium resources globally, further opening up growth space
According to the Wise Finance app, CGN MINING (01164) surged over 13% in the morning session, up 10.56% as of the time of publication, trading at HKD 1.78 with a turnover of HKD 57.4605 million.
On the news front, on October 16th, Amazon announced an agreement with the power company Dominion Energy to explore the possibility of developing small modular nuclear reactors near the existing North Anna nuclear power plant. Amazon is the latest large tech company to purchase nuclear energy to meet the growing demands of data centers, with an investment of over $500 million in this field. Google and Microsoft have also announced similar plans.
Previously, Zheshang Securities pointed out that CGN MINING is the investment and financing platform for overseas uranium resource development under China's largest nuclear power group, CGN Group. With the current nuclear power recovery cycle driving the tightening supply and demand situation for natural uranium, uranium prices are expected to continue to rise. We are optimistic about the company's stable natural uranium demand guarantee under CGN Group, and with the support of existing high-quality resources, continuously exploring high-quality uranium resources globally to further expand its growth space