The uranium price has surged to the highest level since 2015 due in part to a single fund aggressively cornering the physical market.
Investment firm Sprott Inc. earlier this year launched its Physical Uranium Trust and recently commented on Twitter about how much physical uranium it had been buying, aiding to the commodity’s recent bull run.
Sprott has amassed over 24 million pounds of uranium, sometimes buying more than 500,000 pounds in a single day, according to its website and social media accounts.
In comparison, total spot volume for 2020 was 92.2 million pounds, according to uranium investor Yellow Cake Plc. The buying is in addition to already bullish fundamentals.
For the rest of this article: https://www.mining.com/uranium-price-hits-highest-level-since-2015-as-sprott-buys-up-physical-supply/