ASX uranium shares are booming: What’s all the hype about?

ASX uranium shares are booming: What’s all the hype about?

ASX uranium shares have boomed to multi-year highs following a boom in uranium prices. Uranium spot prices have been in a prolonged bear market , plunging from around US$136/lb in 2008 to below US$30/lb between mid-2016 and early-2020. It wasn’t until last week that uranium prices jumped to a six-year high of US$35/lb, largely thanks to one fund aggressively buying out the physical uranium market, tightening the market. “A new bull market” for uranium

The bullish performance of the underlying commodity has helped ASX uranium shares surge in the past few weeks.

The jump in uranium prices has been fueled by the aggressive buying from investment firm, Sprott Inc.

Sprott launched its Physical Uranium Trust (SPUT) in July this year and emerged as the world’s largest actively managed uranium fund.According to Bloomberg , Sprott has amassed over 24 million pounds of uranium.To add some perspective, uranium investment firm Yellow Cake PLC […]

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