KAZSTOMPROM SLASH 2025 PRODUCTION BY 17%, page-4

Shorts will poo their pants on Monday open!

SQUEEZE?! is very possible.

Kazatomprom, which produces ~20% of global Ux has dropped its production guidance by 17%

Goldman Sachs:

FY24 22,500 – 23,500 guidance (this is +1kt v prev guide). Revision lower to 2025 guidance by 18% at 25k-26.5kt (prev 30.5kt to 31.5kt): "the uncertainty around the sulphuric acid supplies for 2025 needs and delays in the construction works at the newly developed deposits resulted in a need to re-evaluate our 2025 plans"...so i take a look at this holistically, we know this trade is on, its just that everyone got burnt. When do you come into it? now may be good if you can handle the liquidity issues and you feel like you want to lean into a pretty narrow vein of opportunity. Prices are back at c.$80 having traded last year to c.$105lb. The perspective is 2025 Production guidance cut from 82mm lbs to 65-68.9mm lbs – a 14-17mm lb cut on a 150mm global industry supply number, its a big chunk of change. Inventories -30% even with lower 2024 prodn than initially planned and lower 2025 guidance. If they presold some of 2025/26 prodn – they will have to go into spot mkt to replace. If you follow it your as bullish as you have ever been, our job is to get the man on the street back in and that means you have to compete with Copper which is far more investible. Happy to discuss anytime.

... And a bit from Canaccord:

Analysts at Canaccord Genuity forecast Kazatomprom's production will be around 23,000 tons in 2025, adding that next year's theme in the uranium market will be "tight."

Glad you didn't sell, huh?

OV
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