Uranium spot price reaches nine-year high as Sprott resumes purchases

Current month uranium spot prices rose sharply to a nine-year high Sept. 15 as the Sprott Physical Uranium Trust began buying again after approval of an expanded equity sales program that will allow the fund to acquire up to $1 billion in additional uranium in the coming months.

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S&P Global Platts assessed spot U3O8 prices at $48/lb at 1 pm ET, the highest price since September 2012.It also marked a jump of $5/lb, or 11.6%, since Sept. 13As Sprott approached the limit of its existing equity sales program, last week it filed with Canadian securities regulators to enlarge its at-the-market fund, which allows it to sell additional shares at its discretion and use the proceeds to buy additional uranium, from $300 million to $1.3 billion.The trust reported no additions to its uranium holdings on its website Sept. 10-13.After […]

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