CGN Mining reported that its attributable natural uranium output in the second quarter of 2026 reached 667.80 tU, outpacing the quarterly plan of 646.40 tU and delivering a 3.3% production beat. This performance was driven by Kazakhstan joint venture Semizbay-U, which supplied 178.90 tU, and associate company Ortalyk, which contributed 488.90 tU. Production at Semizbay-U’s Irkol mine achieved 115.2% of plan, while Ortalyk’s Central Mynkuduk deposit ran 3.3% ahead of target.
As of 30 June 2026, the Group held inventory of 967 tU, equivalent to 2.51 million pounds U₃O₈, booked at a weighted average cost of US$80.88 per pound. Contracted but undelivered sales stood at 2,442 tU, or 6.35 million pounds U₃O₈, with an average selling price of US$88.58 per pound, giving a notional margin of roughly US$7.70 per pound on the contracted book.
During the quarter, the Group signed new procurement contracts for 500 tU at an average US$89.91 per pound and secured new sales contracts covering 365 tU at US$92.96 per pound. Settlements under existing agreements saw 442 tU received from suppliers at US$82.38 per pound and an identical 442 tU delivered to customers at US$95.70 per pound, further underscoring positive price momentum.
Management noted that the disclosed figures are unaudited management data and may vary from subsequent statutory filings. Shareholders are advised to consider potential regulatory, market and operational factors when interpreting quarter-to-quarter variances.
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