Is Uranium the new Lithium?

Similar to the early days of the lithium rally, those companies that correctly precited a commodity shortage or supply gap will be big winners no matter where the stock market ends up in 2024. Despite the sector making solid gains this year, should uranium stocks follow the same pattern as the lithium rally, 2024 could be its year.

Spot lithium had its first big up year in 2021, rallying around 90%+, but from December 2021, lithium supply gaps caused a price squeeze that topped out 300% higher during 2022 as the ASX went into a lithium frenzy.

The price of uranium has risen 60% in 2023, rising from $50 a pound to over $80 a pound, a modest gain compared to the 2021 lithium rally. Uranium is in high demand, thanks to its role in clean energy transition and with 22 nations, representing 43% of the global economy, recently committing to […]

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