Sprott fund transforms uranium spot market

Sprott fund transforms uranium spot market

Visitors look a photo of the mining area that stands at the Roessing Uranium Mining uranium mine near Arandis, Namibia, on April 5, 2019. The price of uranium has risen rapidly in respond to purchases by an asset management firm, Sprott Asset Management LP. Source: Christian Ender /Getty Images News via Getty Images Canadian investment fund Sprott Asset Management LP’s new uranium trust has put their fingers on the scales of uranium prices once again.

The trust, formed in July through Sprott’s acquisition of Uranium Participation Corp., a uranium holding company, restarted a uranium bull run earlier this month when it began buying again on the spot market. In September, the price sank when the trust took a hiatus from buying up the metal. Uranium producers are rubbing their hands over Sprott’s plans to hoover up hefty tons of surplus uranium indefinitely. The fund holds 32.6 million lbs of […]

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