The Sprott Physical Uranium Trust has been buying the metal on the spot market since August, which signals the start of a bull run for uranium. At the moment, Sprott holds more than 23 million pounds of uranium, which equates to roughly 14% of international reactor consumption. This move to amass huge amounts of the metal brings the potential bull market period a few years closer to now.
Uranium is popularly used by nuclear plants for nuclear fission, and while it can be found in various parts of the globe, it is considered a nonrenewable energy source…
NOTE TO INVESTORS: The latest news and updates relating to Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) are available in the company’s newsroom at http://ibn.fm/UUUU
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