Utwit In Despair As CEO

… Sells Cake

Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining / energy news, even when The Editor is at the theatre the markets are closed. 

Where we come together to eat cake. Yellow cake. ☢️ 🍰

Today’s Saturday Edition goes to our favourite child: uranium. 

Check out these radioactive topics:

  • ☢️ SPUT Has Ammunition To Come Back Into Spot Market  

  • ☢️ #Utwit In Despair As CEO Sells Cake 

  • ☢️ New Uranium Hoarding Vehicle Comes To London 

SPUT Has Ammunition To Come Back Into Spot Market

Sprott Uranium Trust (SPUT), a vehicle that simply buys and holds millions of pounds of uranium (they pinky swear they can’t sell), has finally raised enough to come back into the market. 

The trust closed the week at a premium to NAV of +0.48% totalling US$2.907B worth of assets and now holds $15.9M cash which will be used to purchase material in the spot market.

End of day Friday saw a microscopic move in uranium spot prices, with both bid and ask moving 25c. 

Are traders front running the (re)start of the explosive uranium bull market? 🧨 

#Utwit In Despair As CEO Sells Cake

This week was also marked by the news that a well-known uranium junior developer, Uranium Energy Corp (NYSE: UEC), has been selling previously stocked yellowcake into the spot market. 

Fists were shaken at screens, fingers were pointed and the company’s Twitter account came public to explain itself:

Good enough reason?

Is this "flooding the market" or just good business?

Hit reply and let us know!

New Uranium Hoarding Vehicle Comes To London

Kazakhstan, which we hope to one day be able to write without a spellchecker 🙏🏼 , is launching their own version of a physical holding trust, similar to Sprott’s. It’s called ANU Energy, with an IPO of $500m soon. The roadshow is on in London. 

Twitter sentiment check:



Have an amazing rest of the weekend,

The Editor

P.S. It is highly recommended that one switches off one’s phone when at the theatre. 

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

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