Sprott Uranium Watch
Canadian investment fund Sprott Asset Management LP's new uranium trust has put its fingers on the scales of uranium prices once again.
Jesse Day for Sprott: Uranium, an element born of the stars, is as complex as it is paradoxical. This heavy metal holds dormant powers both inspiring and terrifying. This new video shares incredible facts about uranium’s inter-planetary origins and looks at the critical role of uranium in the burgeoning green energy economy.
Uranium ETFs are the among the best performers the last two years. Prior to that, they’d been in a decade-long bear market after the Fukushima nuclear disaster of 2011. But between growing acceptance of nuclear power for a carbon-free future and spiking prices with a supply shortage, you have the makings of a breakout ETF category.
Ed Coyne, Per Jander and John Ciampaglia: Uranium spot prices have been rising in 2021, in what we see as a strong new bull market. Investors are betting on nuclear energy’s profile as a highly efficient, reliable and clean energy source. Aggressive decarbonization goals worldwide are driving major policy shifts that are likely to bolster demand for uranium and nuclear energy.
Jonathan Hinze, President, UxC asks CEO John Ciampaglia about Sprott’s goals for Sprott Physical Uranium Trust: “Our first objective is to modernize the offering through an investment trust format and have it operate largely in the same way as our precious metals trusts....In a time when investment interest and policy support are aligned for emission-free technologies, we believe this Trust is a great opportunity to raise awareness about the nuclear industry as a whole.”
France must build 14 new nuclear reactors, alongside a surge in renewables investment by 2050, if it is to meet its carbon-neutral goals at the cheapest cost, and without endangering supply, the country’s grid operator said in a report.
Japan adopted a new energy policy on Friday that promotes nuclear and renewables as sources of clean energy to achieve the country’s pledge of reaching carbon neutrality in 2050.
Kazatomprom, the world’s largest uranium miner, is backing a new uranium fund that aims to invest in the radioactive metal used to power nuclear reactors.
Japan’s goal of reducing carbon emissions by 46% by 2030 is based on the assumption it will restart 30 of its nuclear reactors, a top ruling party executive said.
The UK government will announce plans to fund a new nuclear power plant before the 2024 election as part of its Net Zero strategy, The Telegraph reported late on Sunday.
John Ciampaglia, CEO of Sprott Asset Management, is interviewed by Bloor Street Capital Principal James Connor. John and James take a deep dive into the uranium investment case and Sprott’s latest fund launch, the Sprott Physical Uranium Trust.
Three years ago, uranium was 'The bull market nobody was talking about', as I wrote in my earlier wire. But in 2021, it's finally caught the attention of investors. While the metal itself bottomed in late 2016, for miners and hopefuls the recovery has been a slow and painful one. Until recently.
Japan's new prime minister, Fumio Kishida, defended his pro-nuclear energy policies on Wednesday, saying that re-starting nuclear power plants mothballed since the 2011 Fukushima disaster was vital.
The ongoing energy crisis has spurred division between France and Germany over expanding nuclear power.
Nuclear plants insulate France from the energy crisis. Now Macron is doubling down on them in a $35 billion moonshot plan
Six months before Emmanuel Macron faces a tough election for a second five-year term as president, the French leader unveiled a €30 billion ($35 billion) investment to ramp up tech innovation and heavy industry—in a clear attempt to win over his conservative skeptics and to position France as a major player in the global economy.
To meet the goals of the Paris Agreement and limit global warming to no more than 1.5°C compared to pre-industrialized levels, the phase out of coal is critical.
Nuclear power is emerging as a green back-up option for renewables in Europe and to help reduce reliance on foreign supplies of natural gas.
Germany Should Postpone Exit From Nuclear Power, Letter From Prominent Professors And Environmentalists Argues
A newly penned letter to the FT, signed by professors from Oxford, Harvard and American University alongside a group of environmentalists, is urging that Germany postpone its exit from nuclear energy for benefit of the environment.
Nuclear power is, in many ways, the most promising source of zero-carbon electricity.
Uranium had been sitting at historic lows for most of the last decade, but as demand and sentiment surrounding uranium turned around slowly, prices have begun to turn around.
Suddenly, uranium is in the spotlight -- it's price has jumped by over 60% in the past month.
After languishing at historical lows for the better part of the last decade, uranium suddenly came back from the dead.
The uranium market is at a tipping point. The clean energy transition, in addition to a supply shortfall, could tip the balance towards an era of rising uranium prices.
Uranium was discovered just over 200 years ago in 1789, and today, it’s among the world’s most important energy minerals.
Permanent closures and temporary suspensions of mines due to the COVID-19 crisis hit global uranium production in 2020. Kazakhstan was the largest uranium producing country in 2020, followed by Australia and Namibia.
Gov. JB Pritzker was joined by environmental and social justice activists, union representatives, and lawmakers from both parties Wednesday as he signed into law a sweeping energy regulation overhaul that aims to phase out carbon emissions from the energy sector by 2045 while diversifying the renewable energy workforce.
The Canadian firm behind the world’s only physical uranium fund said hedge funds and family offices are driving up demand for the radioactive metal used to fuel nuclear reactors.
Current month uranium spot prices rose sharply to a nine-year high Sept. 15 as the Sprott Physical Uranium Trust began buying again after approval of an expanded equity sales program that will allow the fund to acquire up to $1 billion in additional uranium in the coming months.
According to some analysts, the uranium market is a freight train that is just leaving the station as growing demand in a relatively tight market sparks a surge in prices.
A new uranium fund that's snapping up supplies signals the start of a lasting bull run for the commodity used to power nuclear plants.
Shares of Japanese utilities got a boost of confidence after a leading contender to become prime minister said restarting nuclear power plants was necessary to achieve the country's net zero goals, reversing a previous stance that sought to phase out the energy source.
Nuclear energy, as an asset class, has the potential to report well against a wide range of Environmental, Social and Governance (ESG) data collection and accounting metrics, according to a new report from the Generation IV International Forum (GIF).
After the largest three week rise on record for the uranium price, brokers lift their long-term uranium price forecasts and raise price targets for shares.
Nuclear energy’s incredible efficiency and powerful nature comes from uranium’s high energy density.
Kazatomprom may buy additional material in the spot market during the second half of this year to keep its inventories within its targeted range and to meet sales commitments for the rest of 2021, CEO Galymzhan Pirmatov said as the company's half-year results were released yesterday.
Humanity’s failure to avert the crisis of a warming climate is sometimes framed as a grand technological problem: For centuries, countries relied on fossil fuels to industrialize their economies and generate wealth, and it was only in recent years that alternative ways of powering a society, like solar and wind energy, became viable.
New nuclear build enhances system-level energy security, increases the resilience of the electricity grid and helps to reduce dependency on energy imports states a study by the New Nuclear Watch Institute (NNWI).
Uranium is viewed by some to be an important ingredient in the race to reach net-zero emissions by 2050.
An open letter to the prime minister of Belgium, Alexander De Croo, has called for the country's anti-nuclear policies to be re-evaluated and for Belgium's nuclear facilities and skills to be positively applied in an effort to avert climate change.
One of Germany’s biggest challenges in the fight against climate change is to keep the lights on.
You may have read that, last week, the United Nations declared a “Code Red” climate emergency based upon a recent, exhaustive scientific study. All major countries and economies (194 nations to be exact) officially agreed to the report.
Sprott Asset Management LP, on behalf of the Sprott Physical Uranium Trust (TSX: U.UN) (TSX: U.U), a closed-ended trust created to invest and hold substantially all of its assets in physical uranium, today announced that it has launched an at-the-market equity program (the “ATM Program”) to issue up to US$300,000,000 of units of the Trust (“Units”) in Canada.
Morgan Stanley has placed uranium at the very top of its Metals and Mining Commodity Thermometer.
International climate objectives will not be met if nuclear power is excluded, according to UNECE report
Nuclear power is a low-carbon energy source that has avoided about 74Gt of CO2 emissions over the past 50 years, nearly two years’ worth of total global energy-related emissions.
SMRs could allow Canada to meet net-zero emissions goals while leveraging nuclear expertise for a growing global market, says CNA President John Gorman.
A panel of uranium industry experts with careers spanning investing in natural resources, uranium extraction, commodity trading and economics explain the drivers of this new bull market.
Demand for uranium is growing at the same time supply is becoming less certain, said Cameco President and CEO Tim Gitzel July 28.
As the uranium spot price rose marginally last week, buyers and sellers were hopeful the listing of the Sprott Physical Uranium Trust would introduce additional demand into the spot uranium market.
China needs to accelerate its build-out of energy sources such as nuclear and pumped-hydro to stave off worsening power crunches in its industrial centers, according to a government-backed think tank.
The newly created Sprott Physical Uranium Trust has begun trading on the Toronto Stock Exchange after Sprott Asset Management LP, a wholly owned subsidiary of precious metals and real assets investments company Sprott Inc, completed a previously announced transaction with Uranium Participation Corporation (UPC).
A bipartisan group of senators has reintroduced the American Nuclear Infrastructure Act (ANIA), initially introduced last fall in the previous Congress.
On Thursday, Uranium Participation Corporation and Sprott Asset Management LP announced the inception of Sprott Physical Uranium Trust.
Press Release - Sprott Physical Uranium Trust Completes Arrangement with Uranium Participation Corporation
TORONTO, ON – July 19, 2021 – Sprott Asset Management LP, Uranium Participation Corporation (“UPC”) and the newly-formed Sprott Physical Uranium Trust (TSX: U.UN and U.U) (the “Trust”) announced today that the previously announced plan of arrangement involving UPC, SAM, the Trust, and 2834819 Ontario Inc. became effective earlier today (the “Arrangement”). UPC’s shareholders are now unitholders of the Trust. The Trust begins trading this morning on the Toronto Stock Exchange under the symbol “U.UN” in Canadian dollars and “U.U” in U.S. dollars.
Press Release - Uranium Participation Corporation and Sprott Asset Management Announce Closing Date For Arrangement
TORONTO, Ontario, July 15, 2021 – Uranium Participation Corporation (TSX: U) (“UPC”) and Sprott Asset Management LP (“Sprott Asset Management”), announced today that, following the satisfaction of the conditions to closing, UPC has filed articles of arrangement under the Business Corporations Act (Ontario) and a certificate of arrangement was issued in connection with the previously announced plan of arrangement involving UPC, Sprott Asset Management, the Sprott Physical Uranium Trust, and 2834819 Ontario Inc. (the “Transaction”), which will close and be effective at 12:01 a.m. (Toronto time) on July 19, 2021.
As the uranium spot price fell marginally last week, further progress was made to list the first physical uranium fund in both Canada and the US.
Uranium appears to be starting to emerge from a 10-year bear market and is about to be shaken-up by the arrival of Sprott Asset Management, one of the world’s biggest physical commodity managers. John Ciampaglia, CEO of Sprott Asset Management, discusses how this new Trust will seek to attract new demand and new capital inflows into physical uranium, with a vehicle that provides greater transparency.
Transcorp Energy Ltd, a unit of Transnational Corp. of Nigeria Plc plans to develop nuclear power plants in the West African nation as an alternative energy source to improve access to electricity.
Watch video: "Nuclear power doesn’t emit carbon dioxide. It’s America’s single largest source of clean energy, responsible for 52% of the country’s carbon-free electricity. When you add up industrial accidents and the effects of pollution, nuclear is safer than coal or petroleum or natural gas. More Americans have fallen off roofs installing solar panels than have been killed by nuclear power. Nuclear power isn’t without challenges...but it could also totally reshape the way we power our economy, and it might just save the planet in the process."
Japan restarted the first nuclear reactor in more than three years, a long-awaited step forward for the nation’s utilities that are struggling to gain local support and fulfill onerous regulatory requirements.
The planned restart of a mothballed uranium mine in Australia -- the world’s third-largest producer -- is a fresh sign that developers are beginning to respond to an improving demand outlook and the support of the Biden administration for zero-emissions nuclear energy. carried out by NTree International Ltd.
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.
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.
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.
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.
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.
The Sprott Physical Uranium Trust is generally exposed to the multiple risks that have been identified and described in the Management Information Circular and the Prospectus. Please refer to the Management Information Circular or the Prospectus for a description of these risks.
Forward Looking Statements
1The above update contains forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). Forward-looking statements in this update include, without limitation, statements regarding expected future compliance with Rule 15-c-211 and the resumption of regular trading of the SRUUF ticker once OTC Markets confirms that the Trust has satisfied its public information eligibility requirements. With respect to the forward-looking statements contained in this update, the Trust has made numerous assumptions regarding, among other things: its ability to satisfy the requirement of the OTC Markets in a timely manner, or at all. While the Trust considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause the Trust's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this update. A discussion of these and other risks and uncertainties facing the Trust appears in the Trust's continuous disclosure filings, which are available at www.sedar.com. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and the Trust disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.
Past performance is not an indication of future results. All data is in U.S. dollars unless otherwise noted. 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 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. Sprott Asset Management LP is the investment manager to the Sprott Physical Uranium Trust (the “Trust”). Important information about the Trust, including the investment objectives and strategies, applicable management fees, and expenses, is contained in the Management Information Circular and the Prospectus. Please read the Management Information Circular and the Prospectus carefully before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. 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. Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds managed by Sprott Asset Management LP. These views are not to be considered as investment advice nor should they be considered a recommendation to buy or sell.
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 prospectus carefully before investing. 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.