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The uranium market has actually been afflicted by illiquidity, but with the arrival of metal-backed funds, like the Sprott Physical Uranium Trust Fund (SRUUF), the problem of liquidity is reduced, said Rick Rule, supervisor of Sprott.
The Count on was launched in the summer season, adhering to the re-organization of the Uranium Involvement Corp., and the rate of uranium ultimately increased from $30/lb to above $40/lb on Friday.
Rule informed David Lin, support for Kitco News, that the current rate is still low-cost, particularly when thinking about that many uranium manufacturers in The United States and Canada can not yet reactivate procedures even with $40/lb. Operations have actually been put on hold because of a mix of wasteful uranium costs and also COVID-19.
Comply With David Lin on Twitter: @davidlin_TV ()
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Uranium price explosion is just the beginning; “You ain’t seen nothing yet” says Rick Rule
The uranium market has been plagued by illiquidity, but with the advent of metal-backed funds, like the Sprott Physical Uranium Trust Fund (SRUUF), the problem of liquidity is alleviated, said Rick Rule, director of Sprott.
The Trust was launched in the summer, following the re-organization of the Uranium Participation Corp., and the price of uranium subsequently rose from $30/lb to above $40/lb on Friday.
Rule told David Lin, anchor for Kitco News, that the current price is still cheap, especially when considering that most uranium producers in North America can’t yet restart operations even with $40/lb. Operations have been suspended due to a combination of uneconomical uranium prices and COVID-19.
Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV)
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