NEW URANIUM NEWSSprott has just increased the size of its ATM offering for SPUT from US$1.3billion to US$3.5 billion. They have raised about US$994M so far, so they’ve only used ~28% of their amended capacity! SPUT has been influencing the spot market, with utilities apparently taking a wait and see approach, hoping to wait out SPUT before committing to new term contracts.
This increase in the ATM (that’s the headroom they have under which to issue new units in the trust at the market price) means that SPUT will not be constrained by financial capacity and this may be sufficient to convince utilities that SPUT is here to stay, and can’t be waited out.
SPUT is currently only listed on the TSX, (“SPUT”, TSX:U.U). Listing on the NYSE is likely to be the next catalyst for the uranium market, if it’s not the return of utilities to writing new term market contracts
NEW URANIUM NEWSSprott has just increased the size of its ATM...
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