Apologies, link does not work - here is an extract from...

Apologies, link does not work - here is an extract from *********.com article on uranium bull market and Sprotts - a Toronto based fund management company:

ASX stocks hitting 52-week highsAlso indicating that uranium is past its worst is the performance of ASX stocks, all of them recording 52-week highs in recent weeks.A uranium recovery began to be evident mid-2020 as it became clear that a uranium squeeze was only a couple of years away.The fact that just six mines around the world produce two-thirds of the uranium needed to power the 442 reactors across 31 countries demonstrated the unpreparedness of the industry for any surge in uranium demand.In the past 16 years, China has gone from three nuclear power stations to 45.Also in 2020, 20 new reactors were due to be connected to grids.Hundreds of new reactors plannedMoreover, another 495 reactors were to be built or already under construction, with projections of demand reaching 247Mlb per year (compared to 170Mlb at present).Some 85% of that 170Mlb is supplied through long term contracts.Nuclear electricity output increased 2.8% in 2018, the best growth since 2010.

In addition, many US utilities are facing uranium supply contract renewals in the next two or three years, which is going pressure mine supply. Also, planned shutdowns of some reactors are likely to be shelved now that the US Congress has approved support payments to keep them open and generating electricity.‘Start of a bull market for physical uranium’Sprott specialises in precious metals and controls four commodity funds (gold, silver, platinum and palladium) with about US$12 billion (A$15.5 billion) under management.“We believe our global brand, fund marketing experience, and client base of more than 200,000 investors will improve trading liquidity and grow UPC’s asset base during what we believe is the start of a bull market for physical uranium,” Sprott chief executive officer John Ciampaglia said.The company’s precious metals trusts are listed both in Toronto and New York, and money for them raised in the latter.