CGN MINING (01164) saw its shares climb over 4% once more. At the time of writing, the stock was up 3.93%, trading at HK$3.97, with a turnover of HK$173 million. On the news front, recent spot and long-term contract prices for natural uranium have both surged to new 25-year highs. Specifically, the spot price for natural uranium closed at $85 per pound on January 16th, surpassing the 2025 uranium price high of $83.5 per pound. Meanwhile, the long-term contract price for December 2025 reached $86.5 per pound, marking a 1% increase month-over-month and a 7% rise year-over-year. Huatai Securities released a research note stating that on January 14th, US President Trump signed an executive order under "Section 232," which identified natural uranium as a "processed critical mineral and derivative product." The order mandates taking all appropriate actions to ensure sufficient natural uranium supply and mitigate vulnerabilities in the supply chain. Combined with the US Energy Secretary's prior statement that "the United States needs to increase its strategic uranium reserves," the brokerage believes the US natural uranium inventory restocking cycle could commence earlier than expected. This development is expected to further strengthen the fundamental logic for the uranium sector from the demand side. Coupled with relatively rigid supply-side bottlenecks, the firm maintains a positive outlook, suggesting uranium prices are likely to remain on an upward trajectory.