Uranium bull increases stakes in ASX-listed players
Eric Sprott's faith in uranium as a fuel of the future was put under the spotlight yesterday, with a stack of ASX-listed uranium players releasing updated significant shareholder notices showing Sprott Group has been spending big in recent weeks.Between September 20 and October 2, the investor's namesake fund spent around A$30 million to increase its ownership to 7.85% of uranium producer Boss Energy, 8.56% of Peninsula Energy, 8.49% of Elevate Uranium, 8.32% of Lotus Resources, 7.
listed in July 2021 at C$9 per share, with the stock up more than 150% since. At $20.19, it is valued at $5.4 billion. started buying physical uranium soon after listing, taking some 900,000 pounds out of market circulation immediately, and it has been buying ever since, helping push uranium prices up from around US$30/lb to a level above $100/lb almost one year ago.While the commodity is trading around $83/lb currently, the price is up 5% over the past four weeks and almost 20% since January.
purchased a further 400,000lb in the last month. The average reactor uses around 450,000lbpa. More are being built or bought out of mothballs, including a unit at Constellation Energy's infamous Three Mile Island plant in Pennsylvania.Dominant positionWith the addition of Aura, the most advanced plays on the ASX are now largely Sprott-backed and are among some of the Western world's most advanced potential developments.This month, Lotus re-priced the restart of its planned 2.
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