Energy Fuels Expects to Achieve Full-Year Uranium Production Guidance by Mid-Year
Rhea-AI Summary
Energy Fuels (NYSE: UUUU) expects to produce about 1.6 million pounds of U3O8 at its White Mesa Mill from January through June 2026, already within its 2026 full-year guidance of 1.5–2.5 million pounds.
The company reports low uranium costs, advancing U.S. mine development, and major rare earth expansion plans at White Mesa, including Phase 1 heavy REE capabilities by late 2027–early 2028 and a Phase 2 increase to about 6,300 tpa NdPr plus Tb and Dy capacity.
Positive
- H1 2026 finished U3O8 production of about 1.6M lbs, within full-year guidance
- Average monthly U3O8 output above 265,000 lbs from U.S. conventional mines
- White Mesa Mill uranium processing costs at $9–$12 per pound of U3O8
- Pinyon Plain mine total costs tracking $23–$30 per pound, as expected
- Planned Phase 2 REE expansion to ~6,300 tpa NdPr, 80 tpa Tb, 288 tpa Dy
- H1 2026 mining of roughly 750,000–850,000 lbs contained U3O8 in ore
Negative
- Lower ore grades and contained uranium in early 2026 at Pinyon and La Sal
- White Mesa Mill uranium ore processing campaign expected to pause after June 2026
News Market Reaction – UUUU
In the Jun 11 session, UUUU gained 10.15%, reflecting a significant positive market reaction. Argus tracked a peak move of +6.1% during that session. Our momentum scanner triggered 25 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 12 | Sector commentary | Positive | -5.0% | Discussed U.S. rare earth rebuild ahead of 2027 defense-related deadline. |
| May 06 | Quarterly results | Neutral | -0.7% | Reported Q1-2026 uranium revenue growth alongside ongoing net loss. |
| Apr 28 | Sector focus | Positive | -3.4% | Highlighted Wall Street interest in American rare earth supply chains. |
| Apr 23 | Peer drilling update | Neutral | -3.2% | IsoEnergy drilling and bulk sample update near White Mesa Mill. |
| Apr 23 | Earnings call notice | Neutral | -3.2% | Announced timing and access details for Q1-2026 earnings call. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent history shows that even constructive sector or company updates have often been followed by negative 24-hour price moves, indicating a tendency for the stock to trade lower on ostensibly positive or neutral news.
Over the last few months, UUUU’s news flow has centered on sector commentary, rare earth positioning, and quarterly results. Q1-2026 earnings highlighted higher uranium-driven revenue but continued net losses. Other items focused on broader rare earth supply-chain developments and logistics around earnings calls. Across these events, 24-hour reactions were consistently negative, suggesting a pattern where news—whether sector-wide or company-specific—has not translated into short-term price strength.
Key Terms
u3o8 technical
rare earth elements (rees) technical
solvent extraction separation technical
ni 43-101 regulatory
s-k 1300 regulatory
tpa technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Mid-year update highlights strong execution across the Company's
Processing and Production at the White Mesa Mill in
The Company expects finished uranium production at its
As planned, the Company expects to complete the current uranium ore processing campaign at the Mill by the end of June 2026 to rebuild ore stockpiles. The Company currently expects to resume ore processing at the Mill in Q4-2026, subject to continued strong ore production at conventional mines, uranium market conditions, and the potential for a rare earth element ("REE") processing campaign.
Starting in July 2026, the Company expects to commence further modifications to the existing Phase 1 REE circuits at the White Mesa Mill, which are currently capable of producing commercial quantities of separated neodymium-praseodymium ("NdPr"). The modifications are expected to also enable the commercial production of "heavy" REEs, including samarium ("Sm"), europium ("Eu"), gadolinium ("Gd"), terbium ("Tb") and dysprosium ("Dy"). The Phase 1 modifications are also expected to include a circuit to process certain uranium-bearing mixed REE carbonates ("MREC") sourced from REE mines globally, including MRECs from ionic adsorption clays that are often enriched in "heavy" REEs. Because MRECs can be fed directly into solvent extraction separation, the new circuit is expected to enable the Mill to process both uranium and separated REEs simultaneously.
Permitting for the planned Phase 1 modifications and Phase 2 REE expansion with the
Conventional and ISR Uranium Mining Updates
The Company's conventional uranium mines also continue to perform well. As anticipated, ore grades and contained uranium are lower in the first half of 2026 as mining advances through lower grade areas in the upper portions of the high-grade Main Zone at Pinyon, and the Company establishes new and higher-grade areas at the La Sal Complex. As a result, the Company expects to mine approximately 750,000 to 850,000 pounds of contained U3O8 in ore during the first half of 2026. In the second half of 2026, grades and tonnage are expected to increase.
The Company continues to advance development at several other uranium properties. Delineation drilling at the Nichols Ranch property has exceeded 136,000 feet in 214 drill holes in 2026, and the Company expects to use these results to update the project's NI 43-101 and S-K 1300-compliant Technical Report later this year. The Company has also begun dewatering the existing decline at its fully permitted Whirlwind uranium mine in
Continued Low Uranium Costs
Mining, processing, and transport costs at the Pinyon Plain mine continue to track between
Ross Bhappu, President and CEO of Energy Fuels stated:
"Energy Fuels remains focused on disciplined execution across our uranium, rare earth and mineral sand businesses. Our uranium segment continues to differentiate Energy Fuels as the clear leading
About Energy Fuels
Energy Fuels is a leading U.S.-based critical materials company, focused on uranium, rare earth elements (REEs), heavy mineral sands, vanadium and medical isotopes. Energy Fuels, which owns and operates several conventional and in-situ recovery uranium projects in the western United States, has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities for the production of carbon-free nuclear energy. Energy Fuels also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the Mill, Energy Fuels also produces advanced REE products, vanadium oxide (when market conditions warrant), and is evaluating the potential recovery of certain medical isotopes from existing uranium process streams needed for emerging Targeted Alpha Therapy cancer treatments. Energy Fuels is developing three (3) heavy mineral sands projects: the
Qualified Person
The technical information in this press release has been reviewed on behalf of the Company by Daniel Kapostasy, Senior Vice President and Chief Technical Officer of the Company.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation (collectively, "forward-looking statements"), which may include, but are not limited to, statements with respect to: expected quantities of finished U3O8 production at the Mill; timing for completion of U3O8 ore processing campaign at the Mill; timing of resumption of ore processing at the Mill; timing, scope and expected results of further modifications to the Phase I REE circuit, including resulting commercial production; expected production of conventional U3O8 at the La Sal Complex; the timing of updated Technical Reports relating to Nichols Ranch; completion and timing of rehabilitation activities at Whirlwind, anticipated costs of sales in 2026 and any expectation that the Company is or will continue to be a leading producer of uranium, REEs and critical materials in the U.S. or otherwise. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; risks inherent in mining, processing, engineering and construction activities, including operational interruptions, delays or cost overruns; variability in ore grades, metallurgical recoveries and processing rates; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; competition from other producers; government and political actions or inactions; market factors, including future demand for REEs, titanium and zirconium; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company's website at www.energyfuels.com.
Without limiting the foregoing, forward-looking statements regarding the Company's expected uranium production by June 30, 2026 and its ability to meet or exceed previously disclosed full-year production guidance are subject to additional risks and uncertainties, including, but not limited to: uncertainties in reconciling finished uranium production at the Mill with contained uranium mined and stockpiled; variability in ore grades, metallurgical recoveries and processing rates; the timing and continuity of ore deliveries to the Mill; unplanned equipment outages, maintenance requirements or operational interruptions; changes in mine sequencing or production rates at the Company's conventional mining operations; and the potential for differences between estimated and actual production results over the remainder of the current processing campaign.
Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required by law.
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SOURCE Energy Fuels Inc.