Core Viewpoint - The gold market is experiencing significant volatility due to the news of the U.S. government imposing tariffs on imported gold bars weighing 1 kilogram, which initially drove prices to a historical high before a sharp decline occurred [1][2][3]. Group 1: Market Reaction - On August 9, COMEX gold futures dropped sharply from $3,490 to $3,445 within three minutes after the tariff news broke, despite having previously risen over 2% to a record high of $3,534.10 [1][3]. - Following the announcement of the tariff, gold-related stocks such as Newmont and Agnico Eagle Mines quickly reversed their gains [4]. - The price difference between London and New York gold prices widened significantly due to the tariff news, reaching over $100 per ounce before narrowing to below $60 [3]. Group 2: Tariff Implications - The reported tariff on 1-kilogram gold bars could have profound implications for global gold flows and the functioning of U.S. futures contracts, as gold is treated differently from other commodities like copper [2][4]. - The decision to impose tariffs is expected to particularly impact Swiss refineries, which play a crucial role in the global gold market by facilitating the delivery of gold bars between London and New York [4][5]. - The U.S. gold refining capacity is limited, and the imposition of tariffs could render COMEX contracts unfeasible, leading to potential capacity issues and increased market uncertainty [5]. Group 3: Industry Responses - The Swiss Precious Metals Association expressed concerns that the tariffs would make exporting gold to the U.S. economically unviable, potentially eliminating any future trade deficits in gold exports [5]. - The London Bullion Market Association is seeking clarification on the recent tariff decision, which contradicts previous statements from the U.S. government regarding the exemption of gold bars from tariffs [5].

Core Viewpoint - Sprott Inc. successfully closed an upsized bought deal public offering for the Sprott Physical Uranium Trust, raising approximately US$200 million through the issuance of 11,600,000 units at a price of US$17.25 per unit, indicating strong investor support and confidence in the uranium market [2][4]. Group 1: Offering Details - The offering involved the issuance of 11,600,000 units at a price of US$17.25 per unit, resulting in total gross proceeds of approximately US$200 million [2]. - The net proceeds from the offering will be utilized to acquire physical uranium in the form of uranium oxide in concentrates, along with related fees and expenses [3]. - The net proceeds per unit received by the Trust were not less than 100% of the most recently calculated net asset value prior to the pricing determination [3]. Group 2: Market Context and Future Outlook - The CEO of Sprott Asset Management highlighted a positive long-term investment thesis for uranium, driven by a global nuclear renaissance, including plant life extensions and new builds supported by government policies [4]. - The Trust's ability to raise capital through various methods, including this offering and a previous private placement, demonstrates its strong market position [4]. - The Trust has temporarily suspended its at-the-market equity program to facilitate the offering and agreed not to issue any units for 30 days post-closing without the underwriter's consent [4].

Core Viewpoint - Sprott Asset Management has announced an update to its at-the-market equity program, allowing the issuance of up to U.S.$100 million in units of the Sprott Physical Platinum and Palladium Trust, aimed at investing in physical platinum and palladium bullion [1][4]. Group 1: Equity Program Details - The updated at-the-market equity program will be executed under an amended sales agreement with various agents, including Cantor Fitzgerald and BMO Capital Markets [2][3]. - Sales of units will occur on the NYSE Arca and the Toronto Stock Exchange at prevailing market prices, with the timing and volume of sales determined at the Trust's discretion [3][4]. Group 2: Use of Proceeds - Proceeds from the equity program will be utilized to acquire physical platinum and palladium bullion, aligning with the Trust's investment objectives [4]. Group 3: Regulatory and Compliance Information - The offering is made pursuant to a prospectus supplement filed with the SEC and Canadian securities authorities, ensuring compliance with applicable regulations [5][6]. - The listing of the units on the NYSE and TSX has been approved, subject to meeting all listing requirements [6]. Group 4: Company Background - Sprott Asset Management is a subsidiary of Sprott Inc., specializing in precious metals and critical materials investments, with a focus on providing in-depth knowledge and investment strategies [8][9].

TORONTO, March 06, 2025 (GLOBE NEWSWIRE) -- Sprott Inc. (NYSE/TSX: SII) (“Sprott” or the “Company”) announced today that the Toronto Stock Exchange (“TSX”) has approved the Company’s notice of intention to make a normal course issuer bid ("NCIB"). Pursuant to the terms of the NCIB, Sprott may purchase its own common shares for cancellation through the facilities of the TSX, alternative Canadian trading systems and/or the New York Stock Exchange, in each case in accordance with the applicable requirements, t ...