Uranium prices surged past $US100 a pound for the first time in two years after the world’s largest physical uranium fund ramped up purchases of the nuclear fuel and topped up its war chest to keep buying.
The Sprott Physical Uranium Trust purchased 500,000 pounds of uranium this week, with the Toronto-listed fund issuing 9.6 million of its shares to raise $US214 million ($303 million), lifting its cash pile to $US323 million.
