Has the Next Commodities Supercycle Begun?
February saw energy transition materials/critical minerals markets correct, but the secular story remains strong. As the global energy transition "arms race" heats up, the drive to secure supply is fast becoming more important than price. All signs indicate the 40-year bond bull market has likely ended and the next great secular bull market in commodities has begun.
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New & Noteworthy
Uranium‘s Mixed February
March 10, 2023
Although markets in February saw a reversal of January's positive performance, spot uranium posted a slight gain of 0.20%, outperforming many other asset classes. Uranium miners made headlines with significantly-sized uranium contracts that reflect higher demand for long-term supply commitments. Uranium market fundamentals are the most positive in over a decade and are likely to continue to be the primary performance driver.
Bloor Street Capital Nuclear and Uranium Conference
February 24, 2023
John Ciampaglia: “I think it's an interesting time to be investing in uranium — from a fundamental perspective, from an energy policy perspective, from a geopolitical risk perspective….we've experienced a sea change in the level of interest related to uranium, energy transition materials and mining investments.” Bloor Street Capital's Nuclear and Uranium Virtual Conference featured John Ciampaglia and Per Jander.
First Gold Dip Since Central Bank Buying Spree
March 6, 2023
Gold fell in February, closing the month at $1,827 in a correction characterized by a stall in buying, but not selling. Since gold's autumn 2022 low of $1,622, global central banks have been buying gold at record rates; more than three times their long-term averages. The current scale of central bank buying is massive — an annualized rate of 1,724 tonnes vs. an average of 512 tonnes over the past decade. Central bank gold purchases as a percentage of global gold demand have also tripled to 34% from their average of 11% over the past several years.
BNN Bloomberg with Sprott CEO Whitney George
March 6, 2023
Whitney George, Sprott CEO: "In addition to our traditional precious metals focus, we have entered the energy transition materials space, which began with the creation of Sprott Physical Uranium Trust.... I believe Sprott is well equipped to offer energy transition investments, which will be a very important theme in the next 10 years."
Sprott Announces Year Ended 2022 Results
Sprott Inc. Declares Fourth Quarter 2022 Dividend
Sprott Announces Date for 2022 Annual Results Webcast
2022 Sprott Annual Earnings Conference Call