Uranium just hit six-year highs. What’s next?

Uranium just hit six-year highs. What’s next?

Boom time. Pic: Columbia Pictures, 1956 share

The spot uranium price has punched through $35/lb for first time in six years.

The spark for this price rise is the Sprott Physical Uranium Trust (SPUT), which started buying up and storing physical uranium a few weeks back. Big day as #Uranium spot breaks through $35 to set a new 6-year high. Happy to be doing our part as Sprott Physical Uranium Trust added another 400k lbs of U308. #Nuclear #U3O8 #lowcarbon #SPUT $U.UN $U.U For more information and disclosures, visit: https://t.co/LAsp4rJkmP — Sprott Asset Management (@Sprott) September 1, 2021 A gigawatt-class reactor uses around 450,000 pounds per year, so this is no small amount. SPUT is removing it from market circulation for the long term, and they aren’t the only ones.

Two other companies have already declared their intent to build ATM offering programs and “I doubt they will be the last […]

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