Sprott is not using its own money to buy Uranium. They make money through fee's so they can't loose. The SPUT is however a one way street with Uranium going in but nothing coming out for the foreseeable future so it has the potential to become a self propelling vehicle with money flowing, U price going up, more attention to U price --> more money flowing in, U price going up and you can fill in the rest.
This will potentially be propelled along by the URA ETF rebalancing at the end of the year including SPUT, then NYSE listing and most importantly buying from utilities and other financial sources which will happen at some point.
I don't see a long lasting drop in U spot until new uranium production comes online which is quite some time away.
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