Uranium Bull Eric Sprott Sees Higher Energy Prices – Says Nuclear to be The Key Future Energy Source

Tampa, FL (PRWEB) October 14, 2004

Leading Bay Street (Toronto) fund manager Eric Sprott forecasts much higher uranium prices, possibly to $ 50 or $ 100/pound, and higher oil and energy prices. Sprott told StockInterview.com, “I’m not suggesting that it (uranium) has to go to $ 100 to become economic. I don’t think that’s true. Probably at $ 50, it becomes very economic.”

Sprott is also bullish on the nuclear option, saying, “I think the whole nuclear industry will ultimately prove to be the key energy source of the future. People might finally realize there is not an infinite supply of certain things that we rely on. And that we might have to take a more pragmatic view of the nuclear option. I’m sure that is exactly what certain countries, including Japan, China and France, have done.”

Sprott also stated people would change their minds and turn to the nuclear option, which he calls “an incredibly viable option,” under two possible scenarios after the safety issue is first addressed. Sprott said, “Another thing that would make people think differently would be having brownouts for a while, or hyperinflation because of the shortage of coal, natural gas, and diesel fuel.”

Sprott told StockInterview.com that he continues to prefer precious metals over base metals and remains sanguine that energy prices should proceed higher over the coming years.

Sprott listed his favorite stocks in uranium companies, including Strathmore Minerals Corp (TSX-V: STM), in which he reportedly holds approximately 20-percent of the shares issued and outstanding. Sprott also favors Cameco (NYSE: CCJ), JNR (TSX-V: JNR, UEX (TSX: UEX), and International Uranium Corporation (TSX: IUC). Sprott said, “I think the fundamentals for some of the companies are spectacular.”

The entire interview can be viewed at: http://www.stockinterview.com/strathmore-sprott.html

The Eric Sprott School of Business at Carleton University (Ottawa) is named as a result of Sprott’s significant endowments to his alma mater. In 2003, Sprott was honored with Doctor of Laws degree. Sprott is the CEO of Sprott Asset Management based in Toronto.

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