Welcome to our dedicated page for Westwater Res news (Ticker: WWR), a resource for investors and traders seeking the latest updates and insights on Westwater Res stock.
Westwater Resources, Inc. (NYSE American: WWR) is described in its public communications as an energy technology and critical minerals company focused on developing battery-grade natural graphite. The news flow around Westwater centers on the development of its Kellyton Graphite Processing Plant in east-central Alabama and the Coosa Graphite Deposit in Coosa County, Alabama, as well as the financing and commercial arrangements that support these projects.
News updates for Westwater commonly include construction milestones and operational progress at the Kellyton Graphite Plant, such as installation and commissioning of processing equipment, connection to the power grid, and operation of a qualification line producing coated spherical purified graphite samples for customer trials. Articles also cover the company’s efforts to advance permitting and mine development at the Coosa Graphite Deposit, including engagement with engineering firms and regulatory agencies.
Another frequent theme in Westwater’s news is financing and capital markets activity. The company has reported on its at-the-market equity offering program, convertible note offerings, and the pursuit of a secured debt facility to fund remaining construction at Kellyton. Updates have also discussed a letter of interest and due diligence process with the Export-Import Bank of the United States as a potential funding source.
Westwater’s news releases also address commercial and policy developments, including offtake agreements for graphite products, the termination of a Binding Offtake Agreement by FCA US LLC, and the company’s support for U.S. Department of Commerce determinations on countervailing and anti-dumping duties affecting graphite-based anode materials imported from China. In addition, the company has announced milestones related to its graphite purification patent applications and the issuance of a U.S. patent.
Investors and followers of WWR can use this news page to review company announcements on project development, financing, offtake arrangements, patent activity, and participation in investor conferences and calls.
Westwater Resources (NYSE American: WWR) will present at the Planet MicroCap Showcase: VIRTUAL on April 22, 2021, at 12:00 PM EDT. CEO Chris Jones will lead the presentation and engage with investors.
The Company focuses on developing battery-grade graphite, with significant projects like the Coosa Graphite Project, which spans 41,900 acres in Alabama. To watch the presentation, register for the event here.
Westwater Resources (NYSE American: WWR) announced a Virtual Non-Deal Roadshow on April 7, 2021, at 4:00 PM EST. CEO Christopher M. Jones will present and answer investor questions. The event can be accessed via this link. The company aims to develop a sustainable battery graphite process, producing three types of materials, minimizing waste through a unique reprocessing system. Their Coosa Graphite Project is the most advanced of its kind in the contiguous U.S., covering 41,900 acres in Alabama.
Westwater Resources (NYSE American: WWR) announced a production milestone in its pilot plant operations, achieving over 11 metric tonnes of battery-grade graphite products. As of March 18, production includes 9.7 metric tonnes of ULTRA-PMG™, 1.5 metric tonnes of precursor for ULTRA-CSPG™, and 0.2 metric tonnes of ULTRA-DEXDG™. These products are intended for testing by potential customers, with shipments expected within 30-90 days. The pilot program supports a Definitive Feasibility Study aimed at finalizing plans for a commercial production facility, slated for commissioning in Q4 2022.
Westwater Resources (NYSE: WWR) announced that its common stock will begin trading on the NYSE American exchange starting March 19, 2021. CEO Christopher M. Jones heralded this move as a crucial milestone and an opportunity to attract a larger investor base amidst rising global interest in mineral investments. Westwater is positioned to capitalize on the growing electric vehicle and battery markets, especially with recent announcements from major industry players like General Motors regarding new battery facilities in the U.S. The company's Coosa Graphite Project is the most advanced flake graphite project in the continental U.S.
Westwater Resources (NASDAQ: WWR) announced its transfer from the Nasdaq Capital Market to the NYSE American, effective March 19, 2021. CEO Christopher M. Jones emphasized the NYSE's prestigious platform for growing companies. With a rising demand for battery-grade materials, particularly from the electric vehicle market, Westwater's Coosa Graphite Project aims to capitalize on this trend. The last trading day on Nasdaq is March 18, 2021, and the stock will maintain its symbol 'WWR'.
Westwater Resources (Nasdaq: WWR) commends the President's Executive Order from February 24, 2021, aimed at enhancing supply chains for high-capacity batteries essential for electric vehicles. This initiative seeks to reduce U.S. dependency on imports for battery-grade graphite, with the Coosa Graphite Deposit in Alabama positioned to meet this demand. CEO Christopher M. Jones highlights potential benefits for financing and project permitting. The order emphasizes collaboration among government agencies to safeguard critical mineral supply, placing graphite as a focus due to current reliance on China.
Westwater Resources (Nasdaq: WWR) reported its 2020 results, emphasizing a strategic shift to battery-grade graphite after selling uranium assets for $1.8 million in shares. The company aims to produce commercial quantities of graphite by 2023. Net cash used in operations totaled $15.2 million, up from $10 million in 2019, primarily due to increased development expenses. Westwater's cash position improved significantly to $50.3 million as of December 31, 2020, from $1.8 million the previous year. The company plans to raise additional funds for its graphite project.
Westwater Resources, Inc. (Nasdaq: WWR) has initiated the Definitive Feasibility Study (DFS) for its Coosa Graphite Project in Alabama, engaging a team led by Samuel Engineering. This study involves detailed engineering plans for a processing plant with a phased capacity increase from 7,500 to 15,000 metric tonnes per year. The DFS aims to outline cost estimates and prepare for construction financing, with completion expected by the end of Q2 2021. Production is projected to begin in 2023, aligning with market demand in electric vehicles and energy storage.
Westwater Resources (Nasdaq: WWR) will host a conference call on February 16, 2021, at 11:00 a.m. ET to discuss its financial results for 2020 and outlook for 2021. CEO Chris Jones and other executives will provide updates on the Coosa Graphite Project and pilot plant operations. The company recently completed the sale of its North American uranium assets to enCore Energy for $1.8 million in shares, reducing annual costs by $4 million. The conference call will also be available via a live webcast on their website.
Westwater Resources (NASDAQ: WWR) announced the sale of its uranium assets in New Mexico and Texas to enCore Energy Corp. for $1.8 million in shares and royalties. The agreement transfers a $6 million asset retirement obligation and allows Westwater to focus on its battery-grade graphite production, particularly the Coosa Graphite Project in Alabama. With over $50 million in treasury, the company anticipates freeing up $4 million annually from reduced costs. Pilot operations have achieved over 99.9% graphite purity, supporting plans for a full-scale production facility by late 2022.
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