Titan Offshore holding URNM has a new owner
Apr 6, 2022
Sprott Asset Management has finalized its deal to acquire the rights to the North Shore Global Uranium Mining (URNM). Through our Offshore strategy, Titan clients own about $10 million worth of this position, or roughly 0.35% of all outstanding shares.
We supported this transaction, and cast our vote in favor of the deal, as we believe Sprott’s investment leadership in the metals and mining industry makes them an ideal steward of this vehicle going forward.
If you’ve been with us since last year, you know that we’re quite bullish on uranium, the mission-critical feedstock for nuclear power generation. We’ve expressed this thesis in both the Opportunities and Offshore portfolios by investing in uranium mining companies, and although these investments have been fruitful to date, we believe we’re still in the early innings of this investment.
A key pillar of our uranium thesis has been the launch of the Sprott Physical Uranium Trust (SPUT), a now $3.2B AUM investment vehicle that purchases/stores physical uranium. Since launching in mid-August, Sprott has purchased more than 53M lbs of physical uranium out of the spot market, resulting in spot prices increasing more than +100% during this period while also meaningfully improving price discovery in the uranium markets.
These large-scale purchases further amplify the existing large supply/demand imbalance and may accelerate the time in which utilities come to the market and re-sign long-term contracts.
In our view, Sprott’s ownership of URNM, the only U.S.-listed pure-play uranium investment vehicle, should increase investor exposure to the vehicle, potentially leading to new flows and interest into the uranium investment theme. Sprott plans to offer URNM alongside SPUT to its 200,000+ client base, and we think these products are natural complements for investors seeking exposure to commodity and green energy themes. North Shore Global Uranium Mining (URNM) will continue to trade under the same ticker, so Titan clients won’t notice any changes in the Offshore holdings.
We’re pleased to see this deal go through and believe this should only increase interest in the theme.
Cash Management
© Copyright 2024 Titan Global Capital Management USA LLC. All Rights Reserved.
Titan Global Capital Management USA LLC ("Titan") is an investment adviser registered with the Securities and Exchange Commission (“SEC”). By using this website, you accept and agree to Titan’s Terms of Use and Privacy Policy. Titan’s investment advisory services are available only to residents of the United States in jurisdictions where Titan is registered. Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities or investment products. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are hypothetical in nature and may not reflect actual future performance. Account holdings and other information provided are for illustrative purposes only and are not to be considered investment recommendations. The content on this website is for informational purposes only and does not constitute a comprehensive description of Titan’s investment advisory services.
Please refer to Titan's Program Brochure for important additional information. Certain investments are not suitable for all investors. Before investing, you should consider your investment objectives and any fees charged by Titan. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested, including principal. Brokerage services are provided to Titan Clients by Titan Global Technologies LLC and Apex Clearing Corporation, both registered broker-dealers and members of FINRA/SIPC. For more information, visit our disclosures page. You may check the background of these firms by visiting FINRA's BrokerCheck.
Various Registered Investment Company products (“Third Party Funds”) offered by third party fund families and investment companies are made available on the platform. Some of these Third Party Funds are offered through Titan Global Technologies LLC. Other Third Party Funds are offered to advisory clients by Titan. Before investing in such Third Party Funds you should consult the specific supplemental information available for each product. Please refer to Titan's Program Brochure for important additional information. Certain Third Party Funds that are available on Titan’s platform are interval funds. Investments in interval funds are highly speculative and subject to a lack of liquidity that is generally available in other types of investments. Actual investment return and principal value is likely to fluctuate and may depreciate in value when redeemed. Liquidity and distributions are not guaranteed, and are subject to availability at the discretion of the Third Party Fund.
The cash sweep program is made available in coordination with Apex Clearing Corporation through Titan Global Technologies LLC. Please visit www.titan.com/legal for applicable terms and conditions and important disclosures.
Cryptocurrency advisory services are provided by Titan.
Information provided by Titan Support is for informational and general educational purposes only and is not investment or financial advice.
Contact Titan at support@titan.com. 508 LaGuardia Place NY, NY 10012.