Uranium Week: Approval For Uranium Investment Fund

As the uranium spot price fell marginally last week, further progress was made to list the first physical uranium fund in both Canada and the US.

-Shareholder approval for creation of uranium investment vehicle
-Bannerman Resources advances project in Namibia
-Uranium spot price falls by less than -1% for the week

Shareholders of Canadian-listed uranium investor Uranium Participation Corp (UPC) have approved a proposed plan of arrangement to reorganise UPC into the Sprott Asset Management-run investment-fund listed on the Toronto Stock Exchange. UPC is the world’s largest publicly-traded investment vehicle offering exposure to uranium, outside of traditional mining company shares.In explaining last week’s lack of activity in the spot uranium market, independent consultant TradeTech observed both buyers and sellers were hesitant to commit to transactions immediately before the July 7 vote by UPC shareholders to approve the creation of the Sprott Physical Uranium Trust.Since confirmation of the vote in […]

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