Tribeca Nuclear Energy Opportunities Fund – Monthly Update – July 2021

Northern Hemisphere summer doldrums arrived in July with very little market activity and soggy equity prices. There was little change to the portfolio during the month as we waited for the much-anticipated Sprott Physical Uranium Trust to light a match under the physical market and the closely watched spot price indicator. When Sydney went into lockdown almost 2 months ago, I made a slightly throwaway comment that I would not shave until I could again visit the barbershop. I recently came across a post on social media from a man vowing not to shave until the uranium spot price hits $40 USD/lb. With the way the spot price responded last week, he will be clean shaven a matter of weeks! By contrast, with the rate that the Covid delta variant is sweeping through NSW, I can’t shake the feeling that I will be donning the red suit and bellowing ho-ho-ho over the family Christmas Zoom!

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