Uranium Nov. 28 - F3 Results, John Ciampaglia Comments on the Sector, and the Crypto Bros Climb Aboard

November 27, 2023 09:50 AM PST

Here's what the experts are saying today about uranium.


Sprott Asset Management CEO John Ciampaglia on whether $500 uranium is a pipe dream

Antonio Atanasov @antonioatanasv posted an excellent interview yesterday with John Ciampaglia, the CEO of Sprott Asset Management. In it, he dives deep on uranium, including whether supply can come online quickly enough to address growing demand, why a rising uranium price doesn't mean "all boats will rise," and how much the uranium market has changed over the past year. Definitely worth a watch for uranium investors.

"Higher prices cure a lot of issues, because we know uranium is in the ground, the question is how much is it going to take to pull it out of the ground," Mr. Ciampaglia says in the interview.
"You always have to keep in mind, in commodities, there's always a supply response, as price goes up, you have a supply response, . . . the challenge that we have is that all the easy stuff will come back online by the end of next year. After that you're getting into the more challenging greenfield development which doesn't take 1-2 years, it can be five, six, seven, eight years."


F3 Uranium Corp.  (TSX-V: FUU) announced solid assay results


F3 Uranium Corp. announced a round of strong assays from its PLN property on the Athabasca Basin, including 2.0 metres of 20.6% U3O8. Eight Capital commented on the news. 

Shares of the company went down in response, though, which, as @JohnQuakes has it, shouldn't be surprising:

The supply crisis is already starting


City A.M. published an article called "Global scramble for Uranium spells trouble for UK’s nuclear plans," covering why complacency in the market has driven the current supply shortage, and what that could mean for U.K.'s nuclear plans.

"This is the wave uranium is riding, and will likely ride for the next year or two, as utilities rush to market to stockpile during a time when there’s not enough to go around, driving the price even higher," writes Rhodri Morgan. He seems to be arguing here that the price surge should discourage the U.K. from continuing on with its nuclear pledges, but it will be interesting to see how supply comes online as prices (may) continue to rise.

New uranium-backed digital token launches

A uranium-backed digital token called Uranium3o8 ($U) went live on Uniswap. The move also included the addition of a liquidity pool for $U to the Uniswap interface, "creating the first-ever spot market for buying and selling exposure to uranium," according to Kitco.

Interesting to bring attention to the sector, but as Uranium Corgi @UrTokenCorgi puts it, "if you want exposure to physical #uranium… why not just buy #SPUT?"

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