SPROTT and spot and $
Today, SPROTT used $8 million dollars to buy 400,000 pounds of uranium. Spot up 50 cents to $33.00
If you extrapolate this result out, SPROTT will need $112 million to move the spot price to $40 from here..
To move the spot price to $50, SPROTT will need $192.
Is this possible? That is a lot of money and it sure brings into question all those who claim there is a shortage of Uranium. It is obvious that people have under estimated the supply of Uranium that is available.
And this trick by SPROTT also brings a question. How can it be legal for a single entity to manipulate the Uranium market by trying to squeeze the system? SPROTT is trying to create an artificial imbalance in this commodity.