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The Startings of a Price Squeeze for Uranium?

image credit: Bloomberg
Gerard Reid's picture
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Gerard Reid is is focused on assisting people and organizations in the energy and mobility areas who are struggling to understand and come to terms with unpredictable and rapid change going on...

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Uranium Prices on the Rise and it is nothing to do with rising demand for nuclear power but the efforts of one fund the Sprott Physical Uranium Trust which has gone on a buying spree recently and currently own 29m pounds of physical uranium which is equivalent to about 15% of global demand by nuclear power stations for uranium....It will be interesting to see what happens going forward!

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Matt Chester's picture
Matt Chester on Oct 4, 2021

Seems noteworthy-- do you have a link to the chart/story you can share to read more? 

Jim Stack's picture
Jim Stack on Oct 4, 2021

Gerald, Great message. Uranium is a finite material. Mining it is very deadly not to mention all the deadly waste it produces. I'd also like to see the amount of energy it takes to make raw uranium into yellow cake ready for Nuclear plants. It is a real loser in my book. 

 

Bob Meinetz's picture
Bob Meinetz on Oct 4, 2021

 "Mining it is very deadly not to mention all the deadly waste it produces."

Jim, I had no idea! How many have been killed by the deadly waste deadly uranium produces? I can't find evidence anyone has been killed by it, leading me to think that's a misperception founded in irrational fear. Thanks.

Bob Meinetz's picture
Bob Meinetz on Oct 4, 2021

"Uranium Prices on the Rise and it is nothing to do with rising demand for nuclear power..."

Gerard, London's Financial Times would disagree with your assessment:

"Uranium prices soar as investors scoop up nuclear power fuel

Bets on clean energy and economic rebound drive yellowcake prices to their highest level since 2014

Investors are betting that nuclear power will be a key part of the move away from fossil fuels and that a lack of new uranium mines will mean the price has to move higher."

So would the Wall Street Journal:

"Shares of uranium mining companies surged Monday as retail traders from Reddit’s WallStreetBets forum focused their energies on the rallying radioactive metal."

Australia's Under the Radar Report sums it up:

"We're confident uranium stocks will keep rising

Older uranium miner reactors in the US previously scheduled for closure are likely to have life extensions, causing a forecast increase in global nuclear capacity at least in the mid-term, meaning four to five years.

China is significantly increasing its nuclear capacity, projected to rise from 50GWe (giga watts electric power) to 70GWe by the end of 2025 under its fourteenth 5-year plan.

Nuclear is recognised as a component of green energy, particularly for base load because nuclear power Co2 emissions are very low. While there is popular objection to nuclear as a green fuel, the latest 'third generation' reactors are inherently safer and a considerable advance on the previous models."

 

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