KAP finished its year with a strong quarter and achieved top end of production guidance. This was achieved despite interrupted operations at its 60% Inkai joint venture with Cameco (40%, TSX:CCO, Not Covered/No Rating). Sales volumes were approximately in line with our forecasts, correlating with extrapolation from production in prior periods. KAP remains the dominant market force with the uranium sector, controlling operations representing ~40% of global mine production. With strong exposure to uranium pricing, we expect KAP will continue to benefit from high prices and low unit production costs.
To access the full report please log in under the Research Portal at the bottom of this page.
Argonaut’s Research Portal allows you to access Argonaut’s wealth of Research, as well as view descriptions of the Morning Note, Companies covered and the Team.
If you would like to access our research please contact us to create an account.