CGN Mining Flags Lower Gross Profit from H1 2026 Uranium Trading; Off-Take Deliveries Pushed to Second Half

Bulletin Express07-21 19:22

CGN Mining Company Limited (the “Group”) released a voluntary operating status report covering January–June 2026 (the “Period”), outlining two key developments:

1. International Trading Business • The Group’s trading arm, CGN Global Uranium Ltd, conducted natural uranium transactions on a back-to-back basis. • Because the weighted average cost of inventories during the Period exceeded the selling prices contracted in the same timeframe, management expects a negative impact on CGN Global’s gross profit for the first half of 2026.

2. Off-Take Contracts • Certain annual off-take contracts for natural uranium will be fulfilled in the second half of 2026 to align internal resources with customer delivery schedules. • The Board anticipates no material adverse effect on the Group’s full-year business plan and forecasts overall operations to remain stable.

Management reiterated that the medium- to long-term fundamentals of the natural uranium industry remain intact. The Group plans to focus on core operations, enhance efficiency, and advance high-quality uranium project investments to support sustained growth.

The information is based on preliminary internal assessments and has not yet been reviewed by the Company’s auditors. Shareholders and potential investors are advised to exercise caution when dealing in CGN Mining shares.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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