CGN MINING Shares Surge Over 5% in Afternoon Trading on Positive Nuclear Sector Outlook

Stock News
4 hours ago

CGN MINING (01164) saw its shares rise more than 5% during afternoon trading. At the time of writing, the stock was up 5.26%, trading at HK$5, with a turnover of HK$210 million. On the news front, Unit 6 of Japan's Kashiwazaki-Kariwa nuclear power plant, which had been temporarily shut down for a fault investigation, was restarted on February 9. A spokesperson for Tokyo Electric Power Company stated that a "comprehensive load performance check" will be conducted on March 18, followed by the commencement of commercial operations. Zhongtai International believes that following a significant victory by Japan's Liberal Democratic Party in the parliamentary elections, the domestic nuclear energy industry in Japan is expected to accelerate its development, which will support global uranium demand and prices. Huayuan Securities released a research report indicating that against the backdrop of rigidly increasing electricity demand from AI, nuclear power and uranium are being elevated from "alternative energy sources" to "strategic necessities." Their long-term pricing power, cash flow stability, and capital attractiveness are expected to systematically increase. It is noteworthy that although CGN MINING sells all its uranium products to its parent company, the pricing is linked to market rates, allowing it to benefit from the positive factor of rising uranium prices driven by increased global nuclear power demand.

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