Another day and another 5+% move up in the uranium names. I’m not sure if that had to do with Wednesday’s comments from the Pentagon that China plans to quadruple its nuclear (weapons) stockpile by 2030 because that seems pretty bearish for the whole world to me. Although the reality is, that this would likely increase demand for yellowcake, U 3 O 8 . The bull run on uranium still appears to be in full force as names like Cameco Corp. (TSX: CCO | NYSE: CCJ) set another multi-year high with an 8.4% gain on the day. Additionally, there are more entities out there that are following Sprott’s lead and either adding to existing, or starting new funds, to acquire physical yellowcake which continues to support the underlying spot commodity price above US$40/lb.
With that in mind let’s have a look at arguably the world’s richest uranium jurisdiction – Canada’s […]
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