Energy Fuels Stock Price, News & Analysis

Energy Fuels Inc. (NYSE American: UUUU) has been advised by the U.S. Department of Energy (DOE) of its intent to award a contract for developing a conceptual design for producing mixed rare earth oxides (REO) from coal resources. This initiative aligns with Energy Fuels' ongoing rare earth program and aims to widen their REE feedstock sources. The first funding phase will focus on detailed design and flowsheet creation, allowing for potential future contracts for feasibility studies. The project supports the U.S. goal of establishing a domestic rare earth supply chain.

Energy Fuels Inc. (NYSE American: UUUU) has welcomed the U.S. Department of Commerce's agreement with Russia to limit uranium imports through 2040 under the Russian Suspension Agreement (RSA). This move is expected to stabilize the U.S. uranium mining industry, which has faced risks of increased Russian imports. However, short-term challenges persist, as existing contracts may lead to an increase in Russian uranium imports over the next three years. Energy Fuels emphasizes the need for Congress to fund a strategic Uranium Reserve to strengthen U.S. uranium production capabilities and national security.

Energy Fuels Inc. (NYSE American: UUUU) has announced a full redemption of its outstanding convertible debentures, totaling Cdn$10,430,000, to be executed on October 6, 2020. This move will leave the company debt-free, showcasing its commitment to a clean balance sheet. President and CEO Mark S. Chalmers emphasized that while many junior uranium producers are burdened with debt, Energy Fuels focuses on maintaining a strong financial position and plans to capitalize on future opportunities across various commodities, including uranium and rare earth elements.

Energy Fuels Inc. (NYSE American: UUUU) has announced that CEO Mark S. Chalmers will present at The LD 500 investor conference on September 2, 2020, at 4:00 PM (EST). He will discuss various initiatives including uranium production, inventory status, potential U.S. government actions, debt elimination, and rare earth element processing. The LD 500 conference runs from September 1 to 4.

For more information, visit Energy Fuels' profile on LD Micro.

Energy Fuels Inc. (NYSE American: UUUU) announced management changes effective September 1, 2020, aimed at reducing costs and enhancing organizational efficiency. Key promotions include Scott Bakken as Vice President of Regulatory Affairs and Bernard Bonifas as Director of ISR Operations. New hire Sarai Luksch joins as Controller. Additionally, COO W. Paul Goranson and CAO Matt Tarnowski will leave the company to pursue other opportunities. CEO Mark S. Chalmers emphasized the potential for growth in U.S. uranium and rare earth production, addressing the importance of regulatory standards and safety.

Energy Fuels reported Q2 2020 results with $28.3 million in cash and marketable securities and $24.7 million in concentrate inventory. The company narrowed its operating loss to $6.5 million, a 17% improvement from Q1 2020. Uranium spot prices rose 30% in 2020, driven by supply-demand gaps due to COVID-19. Energy Fuels resumed limited production at its White Mesa Mill and expects to produce 125,000 to 175,000 pounds of uranium in 2020. They are also advancing into rare earth elements with plans to generate cash flow within 12 months. The company aims to be debt-free by year-end.

Energy Fuels Inc. (NYSE American: UUUU) announced a significant reduction in debt by redeeming Cdn$10,430,000 of its convertible debentures, leaving Cdn$10,430,000 outstanding. The company reaffirmed its uranium production guidance for 2020, expecting to produce between 125,000 and 175,000 pounds, with an estimated year-end inventory of 640,000 to 690,000 pounds. The current uranium spot price rose 30% to US$32.90 per pound. Energy Fuels also holds 1,600,000 pounds of vanadium, valued at approximately US$8.5 million. The company aims to be debt-free by year-end 2020.