Energy Fuels Stock Price, News & Analysis

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) announced progress in preparing for the restart of its Nichols Ranch in-situ recovery uranium mine in Wyoming. Initial pre-production drilling results show stronger mineralization than anticipated. The company expects Production Area 2 (PA2) could be ready to commence production as early as July 1, 2025, depending on market conditions. Highlights include:

- 39 out of 125 planned delineation holes drilled
- Five holes encountered mineralization greater than 1.0 GT
- Significant intercepts include 14.0 ft at 0.322% eU3O8 and 6.0 ft at 1.523% eU3O8
- Plans to update Nichols Ranch Technical Report later this year
- Additional drilling planned for Collins Draw area

The company also disclosed an additional uranium supply contract with a US nuclear energy utility in its Q2 2024 report.

Energy Fuels (NYSE: UUUU) has achieved a major milestone in its planned acquisition of Base Resources, with Base shareholders overwhelmingly approving the transaction. The acquisition is expected to transform Energy Fuels into a world-leading producer of rare earth elements, titanium, and zirconium, while maintaining its position as a leading U.S. uranium producer. All required regulatory approvals have been obtained, and the transaction is scheduled to close on October 2, 2024. The company has also successfully commissioned its REE separation circuit at the White Mesa Mill, producing 50-60 tonnes of high-purity NdPr, exceeding original guidance. Energy Fuels is now shifting focus to uranium production, expecting to produce 150,000 to 500,000 pounds of U3O8 in 2024.

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) has acquired RadTran , a company specializing in critical radioisotope separation. This strategic move aims to enhance Energy Fuels' capabilities in developing medical isotopes for cancer treatments. The acquisition, completed on August 16, 2024, is expected to address the global shortage of essential isotopes used in targeted alpha therapies (TAT).

The deal involves an initial payment of $1.5 million in cash and $1.5 million in Energy Fuels common shares, along with a 2% royalty on future radium sales. Additional payments of up to $14 million may be made based on performance milestones. Energy Fuels plans to produce R&D quantities of Ra-226 in 2024 and aims for commercial-scale production of Ra-226 and potentially Ra-228 by 2026-2028.

Energy Fuels Inc. (NYSE American: UUUU) reported Q2-2024 results, highlighting uranium mining and successful commissioning of commercial rare earth separation. Key points include:

1. Robust balance sheet with over $200 million in liquidity and no debt
2. Uranium sales of 100,000 pounds at $85.90/lb, generating $8.59 million in revenue
3. New long-term uranium contract with a U.S. utility for up to 550,000 pounds
4. Successful commissioning of Phase 1 REE separation circuit, producing 'on-spec' separated NdPr
5. Plans to ramp up uranium production to 1.1-1.4 million pounds annually by late-2024
6. Agreements to add two world-scale rare earth and heavy mineral sand projects to portfolio

The company is positioning itself as a critical minerals producer for the energy transition, focusing on uranium, rare earth elements, and heavy mineral sands.

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leader in uranium and rare earth elements production, has announced its Q2-2024 earnings call details. The conference call and webcast are scheduled for August 5, 2024, at 10:00 AM Mountain Time. The company will discuss its financial results for the second quarter ended June 30, 2024, with results to be issued in a press release prior to the call.

Investors can join the call via phone using a Rapid Connect URL or by dialing in. A webcast option is also available. The call will include a Q&A session with management. For those unable to attend, a conference replay will be available until August 19, 2024.

Energy Fuels has appointed Debra Bennethum as Director, Critical Minerals & Strategic Supply Chain to advance its rare earth elements (REEs) business. Bennethum, a former GM executive, brings extensive experience in EV supply chains and will be instrumental in Energy Fuels' REE sales and marketing strategies. Additionally, Energy Fuels has commenced commercial production of separated neodymium-praseodymium (NdPr) at its White Mesa Mill, with plans to produce 25-35 tonnes in Q2 2024. The company also aims to scale its 'heavy' REE concentrate, including dysprosium and terbium, for future commercial separation.

Energy Fuels announced the election of ten directors at its annual and special meeting of shareholders held virtually on June 11, 2024. The elected directors include J. Birks Bovaird, Mark S. Chalmers, Benjamin Eshleman III, Ivy V. Estabrooke, Barbara A. Filas, Bruce D. Hansen, Jacqueline Herrera, Dennis L. Higgs, Robert W. Kirkwood, and Alexander G. Morrison. Votes in favor ranged from 91.23% to 97.65%.

Energy Fuels is a leading U.S.-based company specializing in uranium and critical minerals, including rare earth elements. The company operates key production centers like the White Mesa Mill and Nichols Ranch ISR Project, and has recently expanded into REE production. It also holds significant uranium resource portfolios and is exploring further mineral recovery projects globally.

Energy Fuels has achieved commercial production of separated neodymium-praseodymium (NdPr) at its White Mesa Mill in Utah. This NdPr meets the specifications needed for electric motor magnets in EVs and hybrids. Production capacity ranges from 850 to 1,000 metric tons per year, with commercial shipments expected by June 2024.

The company also produced samarium-plus concentrate and plans to launch uranium production in Q3-2024. Construction of the Phase 1 REE Separation Circuit cost $16 million, significantly under the $25 million budget.

Future projects include expanding NdPr production to 4,000-6,000 tonnes per year and developing additional circuits for dysprosium and terbium. Energy Fuels is also securing HMS projects to strengthen its monazite supply for REE separation.

The company aims to produce up to 500,000 pounds of uranium in 2024, with further increases in 2025.

Energy Fuels and Astron have executed agreements to develop the Donald Rare Earth and Mineral Sands Project in Australia. The project aims to produce 7,000-14,000 tonnes of monazite sand per year, starting in 2026, for processing at Energy Fuels' White Mesa Mill in Utah. Energy Fuels will invest AUD$183 million and issue $17.5 million in shares to earn up to a 49% stake in the project. Initial investments of $3.5 million in shares and $10.6 million in capital will be made in 2024. The Mill's REE oxide separation circuit will process the monazite sand without further capital expenditure. Expansion plans aim to increase processing capacity to 40,000-60,000 tonnes per year by 2027. Energy Fuels expects to ramp up uranium production from its U.S. mines, reaching 1.1-1.4 million pounds of U3O8 per year by the end of 2024 and potentially 2 million pounds by 2025. The project's success depends on securing offtake agreements and non-recourse financing.