Sprott Uranium Watch
Worldwide uranium production will recover by 3.1% to reach 51,200 tonnes in 2021 as significant mines come back online following a covid 19 hiatus, a new analysis by GlobalData shows.
John Ciampaglia, CEO of Sprott Asset Management, joins BNN Bloomberg to discuss Sprott's takeover of Uranium Participation Corporation (UPC) and why he believes the climate for this kind of transaction is most appropriate now.
Press Release - Sprott Asset Management Enters Into Agreement With Uranium Participation Corporation to Form the Sprott Physical Uranium Trust
TORONTO, April 28, 2021 (GLOBE NEWSWIRE) -- Sprott Inc. (“Sprott”) (NYSE/TSX: SII) announced today that Sprott Asset Management LP (“Sprott Asset Management”), a wholly-owned subsidiary of Sprott has entered into a definitive agreement with Uranium Participation Corporation (“UPC”) (TSX: U) pursuant to which UPC shareholders will become unitholders of the Sprott Physical Uranium Trust (the “Trust”), a newly-formed entity managed by Sprott Asset Management.
Cameco president and CEO Tim Gitzel said the company was “excited” about the fundamentals of uranium supply and demand as he unveiled the Saskatchewan-based company’s March quarter loss.
Toronto-based precious metals fund manager Sprott Asset Management, already a trend-setter in precious metals, has now sent a wake-up call through the uranium space.
Sprott’s spot plan a strong tailwind for Boss. Plus, copper stocks show uranium peers what boom times are like as investors throw cash at them.
The White House has signaled privately to lawmakers and stakeholders in recent weeks that it supports taxpayer subsidies to keep nuclear facilities from closing and making it harder to meet U.S. climate goals, three sources familiar with the discussions told Reuters.
As the uranium spot price rises 2.6% for the week, an exciting development unfolds for some Canadian shareholders and the broader uranium market.
Sprott Physical Bullion Trusts
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Sprott Physical Bullion Trusts
Sprott Asset Management LP is the investment manager to the Sprott Physical Bullion Trusts (the “Trusts”). Important information about the Trusts, including the investment objectives and strategies, purchase options, applicable management fees, and expenses, is contained in the prospectus. Please read the document carefully before investing (available here). Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. This communication does not constitute an offer to sell or solicitation to purchase securities of the Trusts.
The risks associated with investing in a Trust depend on the securities and assets in which the Trust invests, based upon the Trust’s particular objectives. There is no assurance that any Trust will achieve its investment objective, and its net asset value, yield and investment return will fluctuate from time to time with market conditions. There is no guarantee that the full amount of your original investment in a Trust will be returned to you. The Trusts are not insured by the Canada Deposit Insurance Corporation or any other government deposit insurer. Please read a Trust’s prospectus before investing. The information contained herein does not constitute an offer or solicitation to anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada or the United States should contact their financial advisor to determine whether securities of the Funds may be lawfully sold in their jurisdiction. The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be, the rendering or tax, legal, accounting or professional advice. Readers should consult with their own accountants and/or lawyers for advice on their specific circumstances before taking any action.