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Taco Bell Giving Out Free Nacho Cheese Doritos Loc. Hostess' 2020 Spring Line Up Includes Strawberry T.ĥ0 Percent Off Menu-Priced Pizzas Ordered Online f. Panda Express Woks Up New Black Pepper Angus SteakĪrby's Offers Five Roast Beef Sandwiches for $10 a. Kellogg's Unveils New Jumbo Corn Pops, Froot Loops. Whataburger Releases New BBQ Bacon Burger Texas Roadhouse Now Selling Ready-to-Grill Steaks. Jack in the Box Launches New Popcorn Chicken Combo We continue to position ourselves to take advantage of this long-term bull market.New Spring Mini Donuts Arrive at Krispy Kreme Even then, it's still going to take time to get production online. "If new uranium mines are going to come online, then prices need to be much higher, maybe closer to $80 a pound," he said. With uranium prices above $50 a pound, some producers have restarted production at some mines however, Ciampaglia explained that if long-term demand is to be met, the market needs new greenfield production to come online. If the world is going to decarbonize, nuclear needs to be part of the energy mix," said Ciampaglia.Ĭiampaglia said that the biggest issue in the uranium market is that there is not nearly enough supply to meet the growing demand, specifically coming from China and Europe. "There is a growing realization that nuclear power is needed as a base-load energy supply.
The conversation is just getting started as governments want clean, secure, and reliable energy."Īlthough renewable energy like solar power and wind power has seen significant growth in the last few years, Ciampaglia said that many governments are starting to recognize that these sectors won't be able to meet the growing energy demands. There was still a lot of fear in the market," said Ciampaglia. "Two years ago, you couldn't have a conversation about nuclear energy. Gold remains on track as Federal Reserve lays out path for 50-bps rate hikes - State Street's Milling-Stanley The energy crisis could worsen as the European Union proposed sanctioning Russia's oil because of the invasion.Īlong with the immediate impact of the conflict in Eastern Europe, Ciampaglia said the growing concern about climate change adds further demand for clean energy, which nuclear can provide. European energy prices have dramatically increased due to Russia's ongoing war in Ukraine. The European economy, in particular, is at risk of falling into a recession as energy prices rise out of control. The company said that the new exchange-traded fund adds more than $1 billion of value to its uranium portfolio.Ĭiampaglia said that uranium is still at the early stages of a bull market as nations worldwide look for new energy sources to wean them off fossil fuels. The comments come as the investment firm recently added to its uranium portfolio, launching the Sprott Uranium Miners ETF, after buying certain assets relating to the North Shore Global Uranium Mining ETF. In the long-term, Ciampaglia said that prices have the potential to double from current prices to $100 a pound. There is a serious supply and demand imbalance in the market that can only be fixed with higher prices," said Ciampaglia. "We think there is still a lot of runway left in the uranium price. At the same time, the price of uranium has jumped from $28 a pound to around $53 a pound. The fund started with initial holdings of 18.1 million pounds of uranium, valued at $630 million, and now holds 55.5 million pounds, valued at $3 billion dollars. In a telephone interview with Kitco News, John Ciampaglia, CEO of Sprott Asset Management, noted that in less than a year, the Sprott Physical Uranium Trust, which gives investors direct access to physical metal, has seen significant growth. (Kitco News) - A global energy crisis that threatens to get worse and ongoing climate change issues mean there is plenty of upside potential for nuclear energy, according to the world's biggest uranium investment firm. Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions.
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