CGN MINING surged over 20% after renewing the natural uranium sales framework agreement

AASTOCKS
2025.06.04 01:46

CGN MINING (01164.HK) opened up 14.46% today (4th) and the increase expanded, reaching a high of HKD 2.04. It is currently reported at HKD 2.03, up 22.29%, with a trading volume of 254 million shares, involving HKD 504 million.

CGN MINING has signed three major transaction agreements with related parties, including a new sales framework agreement for natural uranium, a new financial services framework agreement, and a natural uranium trading agreement, which will sell natural uranium to CGN Uranium Industry Group from 2026 to 2028, with annual sales caps of approximately HKD 3.94 billion, HKD 4.39 billion, and HKD 4.56 billion for each of the three years.

It is expected that the sales of natural uranium under the natural uranium trading agreement will provide a stable source of income for the group in the second half of 2025, and due to the lower storage costs of natural uranium, early completion of delivery will yield better net returns

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