CGN Mining Issues Profit Warning Amid Tax Challenges and Market Changes

CGN Mining Co ( (HK:1164) ) just unveiled an update.

CGN Mining Company Limited has issued a profit warning, indicating an expected increase in profit from continuing operations before taxation by approximately HK$230 million to HK$280 million for the year ended December 31, 2024, compared to 2023. This increase is attributed to a rise in natural uranium prices, benefiting the company’s joint ventures and associates. However, the net profit is expected to decrease by HK$130 million to HK$180 million due to increased income tax expenses, particularly in Kazakhstan, and a loss from discontinued operations following a share swap acquisition involving Fission Uranium Corp.

More about CGN Mining Co

CGN Mining Company Limited, incorporated in the Cayman Islands, operates in the mining industry with a focus on natural uranium. The company is involved in joint ventures and associates, reflecting its strategic positioning in the uranium market.

YTD Price Performance: -20.95%

Average Trading Volume: 7,785

Technical Sentiment Consensus Rating: Hold

Current Market Cap: $1.5B

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