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Although uranium is having a good month (and a good year), so far a larger price rise hasn’t materialized.
“I wish it had had a bigger impact than it did. The big hope I think when that started was that (the purchases would) soak up all the easy uranium out there … and then you would have much more real negotiations between buyers and sellers, setting more realistic prices and that could really unleash the spot price,” said Tiggre in the June 29 interview.
He also touched on the news that Sprott Asset Management will be taking over management of Uranium Participation (TSX:U,OTC Pink:URPTF), creating a new entity called the Sprott Physical Uranium Trust.
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Last week’s top-gaining mining stocks on the TSXV were Petro Victory, Razor Energy, Purepoint Uranium, Emerita Resources and BCM Resources.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the decline last week, opening at 961.44 and closing the five day period at 955.23.
Statistics Canada said last Friday (May 7) that the country’s economy lost 207,000 jobs in April due to a new round of coronavirus-related lockdowns. The loss was higher than the expected amount of 175,000.
Meanwhile, in the commodities sector, gold broke past the US$1,800 per ounce mark, while the price of copper reached a new all-time high.