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Uranium surged 20% in last 2 weeks, where is this rally headed? Sprott’s John Ciampaglia – Source – Kitco News

The recent surge in uranium is only just the beginning, as investors are starting to realize that nuclear power is perhaps one of the more reliable, and safe, sources of base load power and uranium supply is limited, said John Ciampaglia, CEO of Sprott Asset Management.

“If you go back a little earlier in time, say the last ten years, the price of uranium, even at today’s level, is still about 50% lower than where it was in 2011. I think a lot of value oriented investors are looking at that and saying ‘where else in the world can we find a commodity that’s still 50% of where it was 10 years ago, given the valuations we’re seeing in just about every asset in the world’?” Ciampaglia told David Lin, anchor for Kitco News.

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