The Sprott Physical Uranium Trust has itself been on a buying spree, bolstering its stockpile by 45% in four weeks.

Uranium futures on Nymex surged to $44.15 a pound on Monday, the highest level since December 2012.

Sprott has amassed over 24 million pounds of uranium, sometimes buying more than 500,000 pounds in a single day.

The combined company would hold multiple uranium projects at various stages of development.

Call it cross-pollination: Mining companies in Australia are taking up projects in Canada and Canadian mining companies are enthusiastic about projects in Australia.

Drilling targeted mainly areas of inferred resources in the R840W zone over a strike length of 353 metres.

Using research from the U.S. Department of Energy, this graphic puts in perspective the efficiency of a single uranium pellet in comparison to fossil fuels.

Mazhit Sharipov, who is currently Kazatomprom's chief nuclear fuel cycle officer, will be appointed as acting CEO.