HK Stock Market Move | CGN MINING (01164) rose nearly 4% again. Goldman Sachs predicts that the uranium supply gap will expand to 32%. Uranium prices still have a 20% upside potential.

CGN MINING (01164) rose nearly 4% again, as of the time of writing, up 3.45% to HK$3.3, with a trading volume of HK$22.1823 million. In terms of news, the latest research report from Goldman Sachs shows that by the end of 2026, the spot price of uranium is expected to rise to around $91 per pound, compared to the current price of about $76, meaning there is at least a 20% upside potential. Although different mechanisms drive the spot and long-term contract markets, the bank believes that both markets face upward price risks in 2026, with long-term contract prices rising from $80 per pound in August to $86 per pound. Goldman Sachs' model shows that between 2025 and 2035, the cumulative supply gap for uranium is about 13%, and this number will further increase to 32% between 2025 and 2045. Guotou Securities International recently released a research report stating that the new trading framework will drive CGN MINING's future revenue and profit growth. In early June, the company announced a new pricing framework for related transactions with CGN Group for 2026-2028, with the new sales price changing from 40% base price + 60% spot price over the past three years to 30% base price + 70% spot price, with the base price increasing significantly from $61.78 per pound, $63.94 per pound, $66.17 per pound to $94.22 per pound, $98.08 per pound, $102.10 per pound. It is expected that the company's future sales revenue and profit will see significant growth.