After languishing at historical lows for the better part of the last decade, uranium suddenly came back from the dead. Prices have surged about 40% just in September, outpacing all other major commodities.
In just a few weeks, millions of pounds of supply was scooped up by the Sprott Physical Uranium Trust. It’s a massive bet on nuclear energy’s prominence in a carbon-free future. The problem is — at least for the investors who poured more than $240 million into the fund — the debate is still raging over whether and how nuclear can come to the forefront.