Uranium miners jump after Kazatomprom flags production shortfall in 2024

Nexgen Energy

12/01/2024 15:10

(Updates to market open)
    ** Shares of uranium companies jump in early morning trade
as Kazakhstan's Kazatomprom said it may cut its 2024 production
plan due to difficulties with sourcing sulfuric acid needed for
uranium production
    ** Uranium prices  UXXc1  hit $97/lbs on Jan. 11, highest
since 2007 end
    ** U.S. companies Energy Fuels  UUUU.K , Uranium Energy
 UEC.N , Ur-Energy  URG.N  up between 4.2% and 7.6%
    ** Canadian uranium miners Cameco  CCO.TO , NexGen Energy
 NXE.TO  and Denison Mines  DML.TO  jump between 6% to 7.6%
    ** Global X Uranium ETF  URA.P  climbs 5.3% while Sprott
Uranium Miners ETF rises 6.2%
    ** Shares of London-listed uranium fund Yellow Cake Plc
 YCA.L  rise ~6.5% to 701p at around 9:45 a.m. ET (1445 GMT) to
hit a new record high
    ** London-listed shares of Kazatomprom  KAPq.L  rose ~4.8%,
hitting their highest since Nov. 2021

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com; If in India call +91 74832
70128, if within U.S. call +1 646 223 8780;))