All Articles
Nuclear

Billionaire Gold Investor Eric Sprott is on a Uranium Buying Spree

September 30, 2023
x min read
Billionaire Gold Investor Eric Sprott is on a Uranium Buying Spree

Most know billionaire Eric Sprott for his big bets on gold miners and precious metals companies.

However, he’s now pursuing something else: uranium.

What’s happening:

  • Eric Sprott is one of Canada’s most notable entrepreneurs and financiers for his prolific investments in gold exploration and mining companies
  • He is also the founder of Sprott Inc, which has $25B CAD assets under management
  • Approximately two years ago Sprott Inc purchased a physical uranium holding company which is now known as Sprott Physical Uranium Trust (TSX: U-U)
  • Sprott Physical Uranium Trust has been on a buying spree of physical uranium

By the numbers:

  • Currently, the Sprott Physical Uranium Trust owns 61M pounds of physical uranium which makes them one of the largest owners of uranium globally
  • Sprott Physical Uranium Trust has recently filed to raise $125M of new capital to deepen their bet on uranium

Why it matters:

  • There is a global race happening around nuclear energy being spurred on by governments
  • The price of physical uranium is the highest its been in more than a decade
  • Uranium producers are citing shortages due to increased demand as countries look to build out nuclear energy facilities at an unprecedented pace

Going deeper:

  • As Sprott Physical Uranium Trust raises more capital they will likely accelerate the rate at which they accumulate physical uranium which could have major price implications
  • The price of physical uranium is up 15% in the last month alone and is starting to show signs of a potentially large dislocation between supply and demand

The intrigue:

  • Sprott Physical Uranium Trust is currently buying more physical uranium than every nuclear reactor in the United States combined

Discover the world's most disruptive early stage companies with 35,000+ investors.

The markets and trends that matter, made simple.

Join top talent at the world's most respected institutions, companies, and venture capital funds.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.