Resources Top … 9: ASX uranium stocks are going berserk

Resources Top … 9: ASX uranium stocks are going berserk

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The uranium space is going bonkers.

The spark has been the Sprott Physical Uranium Trust (SPUT), which started buying up physical uranium and taking it out of market circulation in August.

So far, this has pushed spot price to +6-year highs.SPUT has now massively upsized this buying program by ~$US1bn to $RUS1.3bn, and there could be more tailwinds to come, experts say. In case U’re wondering #Uranium traditionally enters a strong uptrend each year from October to March. This ‘Seasonality’ is driven primarily by #Nuclear reactor fuel buyers re-entering #U3O8 market with renewed budgets after a summer break. More tailwinds for U? pic.twitter.com/UrtAhZYs1s — John Quakes (@quakes99) September 12, 2021 Unsurprisingly, investor sentiment is sky high. Every stock on our list, except one, is making gains in morning trade Monday. At least 14 of them are in double digits. (Up on no news) Rio Tinto’s uranium business is in […]

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