The uranium spot market may be on the verge of a fundamental shift after the takeover of Uranium Participation Corp. by Sprott Asset Management LP, according to Canadian uranium producer Cameco Corp.
Sprott Asset Management, a subsidiary of Sprott Inc., entered into an agreement with Uranium Participation, a uranium asset investment manager, in late April to form the Sprott Physical Uranium Trust, removing Denison Mines Corp. as head of the entity. Managers of the new trust plan to pursue a listing on the New York Stock Exchange, potentially resulting in an increase of trading liquidity and access to capital for future uranium purchases, according to corporate filings.
Executives for Cameco, the operator of the largest uranium-producing mine in the world, said during a May 7 earnings call that the deal could create broad investment in uranium mining and the purchase of uranium on the spot market. The market could enter […]
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