ASX stocks are beginning to react as uranium spot price approaches 5-year highs

ASX stocks are beginning to react as uranium spot price approaches 5-year highs

Last week, the Sprott Physical Uranium Trust (SPUT) started buying up physical uranium , taking it out of market circulation. This yellowcake will be sequestered for the long term.

Last week it was 900,000lb. On Tuesday another 400,000lb was bought and removed from the market, and there will be more to come. Today @Sprott issued 983K Physical #Uranium Trust units which raised $8.6M used to stack another 400,000 lbs #U3O8 pushing Up NAV by $17.7M to over US$687M. SPUT still holds $4.9M cash for stacking with units closing at 3.19% Premium to NAV. — John Quakes (@quakes99) August 23, 2021 A gigawatt-class reactor uses around 450,000lb per year, so this is no small amount, according to 808s Online, a blog run by a US nuclear professional.

US financial services firm Cantor Fitzgerald – which gives SPUT a ‘buy’ rating – says the Trust is now potentially the single […]

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