Uranium price rises

The price increase is partly due to a single fund that aggressively cornered the physical market. That’s because investment firm Sprott Inc. had launched the Physical Uranium Trust in early 2021 and reported how much physical uranium had been bought up, about 24 million pounds of uranium, some of it more than 500,000 pounds in a single day. This is to support the recent bull market in uranium as a commodity. By comparison, the total spot volume for 2020 was about 92 million pounds of uranium.

And as Kazatomprom announced earlier this year, production is to remain at a reduced level until 2023. Uranium futures on the New York Mercantile Exchange (Nymex) recently rose by around 15 percent. So, things are happening. No wonder, energy costs are rising as demand recovers after the sometimes-drastic pandemic shutdowns. The world is set to become increasingly decarbonised, so the war on fossil fuels is on. Among the green alternatives is nuclear energy.

Famous for uranium is the Athabasca Basin in Saskatchewan, one of the best uranium areas in the world with the largest and highest-grade uranium deposits and a rich uranium mining history. Where politics is pro-mining, IsoEnergy – https://www.youtube.com/watch?v=88pChq5Oulg -, for example, has a presence with its uranium projects.

There, the company owns the high-grade Laroque East deposit, which hosts the remarkable Hurricane Zone deposit. Consolidated Uranium – https://www.youtube.com/watch?v=_VlnEXzav0s – is also a company that specializes in uranium, in addition to gold. Thus, the company has its eyes on uranium projects in the USA, Canada, Australia and Argentina.

Current company information and press releases from IsoEnergy (- https://www.resource-capital.ch/en/companies/iso-energy-ltd/ -).

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