TCRs,
Uranium shares URA NLR are the outpacers this third week of June. As a group they are rising approx. 7%.
Nuclear fuel developers and producers, and related companies, are benefiting from a confluence of events and trends.
— Sprott’s physical trust SRUUF U.U unveiling a $200 million “bought deal financing.”
Says Marc Henderson at uranium project developer Laramide Resources LAM, “This should really ramp things here as the spot market for uranium is very thin.”
Jordan Trimble of Skyharbour Resources SYH SYHBF — “The uranium spot price has already jumped into the mid-70’s likely from traders and I think we will see further upward price action with Sprott deploying this capital by buying more pounds.”
— probable nuke power for the U.S. military;
— money flows into the leading uranium ETFs;
Cory Belyk of CanAlaska Uranium — “The very recent financing for SPUT of $200 million is an upsize of 100% over the initial offer and will result in physical uranium purchases in what is an extremely tight free uranium trading market. The move in spot uranium price by +$5/lb in one day is a clear reflection.
“It will be interesting to see what happens as that financing gets deployed into this market in the backdrop of ever-increasing jurisdictional risk, ongoing reserve depletion, and (predictable) nuclear buildout.”
— White House push to roll out, or encourage, new nuke power plants;
— Israeli strikes on Iran nuclear facilities;
–– Russia’s offer to store Iran nuke fuel — article here;
— 24×7 demand to power technology advancements, including artificial intelligence and quantum computing development.
Uranium futures contracts do not exist; “spot prices” are based on buyers‘ and sellers‘ short-term contracts and looming demand from power plants and other uranium users that might face pressing needs for the fuel.
The “spot price” right now, approx. $75 a pound, appears to be resuming a years-long rally that had stalled in 2025.
Publicly traded trusts that hold uranium are an indicator of where spot’s price is headed. Monday, Sprott’s physical trust SRUUF U.U is rising 4%.
Yellowcake Plc YCA YLLXF, a U.K. physical trust, also is gaining; the company lists the “spot” uranium price rising 7% to $76 a pound. A so-called “implied price,” based on financial data collected from various buyers, sellers and other sources, is listed at $66 a pound.
Other “decarb” companies are also gaining. Here is an Investors Business Daily article that lists several.
My uranium and “decarb” holdings include Athabasca Basin explorers CanAlaska Uranium CVV CVVUF, F3 Uranium FUU FUUFF and Baselode Uranium FIND BSENF. I also own Comstock Inc. LODE, a small Nevada decarb-technology and biofuels company.
These are high-risk, small-cap stocks, and at some point, I likely will sell a portion of each as the rally continues.
— Thom Calandra
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