Sprott stakes, Amazon nuclear deal boost ASX uranium miners
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The news: ASX-listed uranium miners are trading sharply higher after commodities investor Sprott lifted its stakes in two Australian companies and amid news of Amazon’s deal for stakes in nuclear energy projects.
The numbers: Shares in Paladin Energy and Deep Yellow are each up more than 11% in early trading on the ASX, while Boss Energy is up 6.5% at $3.64.
The context: The gains come after news that Amazon signed three new agreements to support the development of nuclear energy projects, including an investment in US-based X-energy.
Amazon said it will deploy the small modular reactors to generate low-carbon power for its data centres and contribute to its climate and sustainability goals. Other tech giants like Microsoft and Google have also signed similar nuclear energy deals.
The ASX share prices were also supported by regulatory filings that showed Sprott Asset Management increased its stake in Boss Energy to nearly 8% from 6.9% previously, and also lifted its holding in Deep Yellow to 7.8% from 5.9% earlier.
The sources: ASX announcement, ASX announcement
