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

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