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Boss added +3.9% today after rushing +14% higher on Monday; Paladin has advanced as much as +19%, to $7.50 a share, through the two trading days.
Deep Yellow has them both beat in the rally, too, adding +27% in the week thus far.
It’s a particularly interesting watch – and is already being celebrated by HotCopper forum users who’ve long backed uranium – considering Boss and Paladin both stand as the most-shorted stocks on the bourse, at time of writing.
Deep Yellow isn’t far behind, with as many as 9.86% short on the mid-cap.
Silex (ASX:SLX), a tech company involved in uranium production, comes in ranked tenth.
The most shorted ASX stocks on June 17. Image via ShortMan.com.
While it’s doubtful this Week 25 news will shake those shorters free just yet, it is still being described as “huge” by analysts watching the uranium space.
It’s most appetising for uranium investors because Sprott Physical Uranium Trust is the world’s largest publicly-listed fund that focuses on physical uranium. Should the heavyweight trust raise its targeted $100 million pick-up, it will be able to buy as much as 1.5M pounds of yellowcake – driving spot prices higher.
Players like Boss, Deep Yellow, and Paladin could then swoop with stronger sales.
DYL is at $1.66 today, while BOE is $4.51/sh. PDN is going for $7.52.
“[This] will drive the spot price [of uranium] significantly higher from here,” Guy Keller, portfolio manager for Tribeca’s Nuclear Energy Opportunities Fund, told the Australian Financial Review late on Monday.
“I would not be surprised to see it trading in the mid US$80s in short order.”
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YL), Boss Energy (ASX:BOE), and Paladin Energy (ASX
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