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Happy Friday, Zingers! Today we look at gold miners plans for cash, surging uranium prices, strategic expansion at Northern Superior Resources, and more.

Also, you can find the latest in Benzinga’s mining coverage here.

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TOP STORY

Major Gold Miners' Cash Plans Hot Topic This Earnings Season

Briefly: As major gold miners report earnings, how they plan to utilize their profits amid record-high gold prices is in focus.

Context: This earnings season, gold miners are expected to report significantly higher cash flow.

What Happened? Last week, Newmont Corp., the biggest gold miner in the world, reported earnings and revenue that beat expectations. 

What Next: Barrick Gold, the world's No. 2 producer of the precious metal after Newmont, is scheduled to report on Aug. 12.

Click here to read more.

ZINGERS

Northern Superior Resources Inc.’s (OTC: NSUPF) CEO discussed with Benzinga the state of the market and the company's plans for its promising projects in Quebec and Ontario.

NexGen Energy (NYSE: NSE) has announced that construction costs for its Rook I uranium project in Saskatchewan have soared nearly 70% above the previous estimate from 2021.

Alaska Energy Metals’s (OTC: AKEMF) CEO shared with Benzinga his opinions about Alaskan mining, nickel's importance, and the state of the commodity market.

DIGGING IN

Uranium Surges To 16-Year Highs On Supply Uncertainty, AI Demand

Briefly: Long-term uranium contract prices have surged to over 16-year highs, driven by supply uncertainties and increasing demand, as the industry scrambles to prepare for powering AI data centers.

What Else? Other factors, such as supply chain disruptions, geopolitical uncertainties, and envirionment-related restraints, contribute to the situation.

What Now? Term prices for uranium now hover around $79 per pound, the highest since 2008, with further increases anticipated in the coming months.

What Next? The demand for uranium is anticipated to grow substantially. The International Energy Agency has predicted nuclear generation could almost double by 2050 due to the global push for clean energy.

Click here to read more.

ANALYST RATINGS

Warrior Met Coal Inc. (NYSE: HCC) - Date: 08/02/2024, Analyst Firm: B. Riley Securities, Rating: Maintains Buy, Target: $91.01

Reliance Inc. (NYSE: RS) - Date: 07/26/2024, Analyst Firm: Wolfe Research, Rating: Downgrades to Underperform from Peer Perform, Target: —

INSIDER TRADES

Notable Purchases

Cleveland-Cliffs Inc. (NYSE: CLF) - Purchase Date: 7/31/2024, Insider: John Baldwin (director), Value: $116.24K, Delta Own: 6.60%

Kaiser Aluminum Corp. (NASDAQ: KALU) - Purchase Date: 7/28/2024, Insider: Keith Harvey(CEO), Value: $199.87K, Delta Own: 2.56%

Notable Sales

Nucor Corp. (NYSE: NUE) - Sell Dates: 7/30/2024, Insider: Daniel Needham (executive vice president), Value: $1.38M, Delta Own: -8.01%

Steel Dynamics Inc. (NASDAQ: STLD) - Sell Dates: 7/29/2024, Insider: Gabriel Shaheen (director), Value: $236.85K, Delta Own: -2.21%

Go Deeper: Learn where the insiders are buying and selling.

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