Ann: Etango-8 PFS Presentation, page-60

Reddit's Wall Street Bets Traders Go Nuclear

Shares of uranium mining companies are surging as retail traders from Reddit's Wall Street Bets forum focus their energies on the radioactive metal.

Companies tied to uranium in Australia and the U.K. powered higher Monday, while U.S. listed companies rose in premarket trading.

Sydney-listed uranium miners Peninsula Energy Ltd., Energy Resources of Australia Ltd. and Bannerman Energy Ltd. all closed more than 25% higher. U.K.-listed miner Aura Energy Ltd. jumped more than 39% while Yellow Cake PLC, a company that acts as an exchange-traded fund for uranium, rose almost 15%.

Meanwhile, Canada's Cameco Corp. has become the third most discussed company on Wall Street Bets after tech giants Apple Inc. and Alibaba Group Holding Ltd., according to SwaggyStocks, a website that tracks mentions of a company's ticker symbol on the trading forum.

New York-traded shares of the uranium miner rose more than 5% in premarket trading. Uranium Royalty Corp. also jumped 11% ahead of the opening bell.

Recent posts on Wall Street Bets have put forward bullish arguments in favor of uranium prices and mining stocks.

One popular post first published at the start of the month called "Uranium: Start of a Commodity Supercycle" draws attention to the metal's currently tight market as well as moves by the recently created Sprott Physical Uranium Trust to purchase and stockpile large quantities of uranium.

A separate page on the social media network called UraniumSqueeze has attracted over 13,000 members since it was created in February. It describes itself as "dedicated to all the investors and traders passionate about the uranium market."

The companies mentioned in this article didn't immediately respond to requests for comment.