Westwater Res Stock Price, News & Analysis

Westwater Resources, Inc. (NYSE American: WWR) has appointed Jon Jacobs as its new Chief Commercial Officer, effective March 6, 2023. Jacobs has over 20 years of experience in technical sales and strategic commercial roles, including his recent position as Chief Marketing Officer at Solid Power. He will manage customer relationships as the company prepares to commission its Kellyton graphite processing plant in Alabama. Jacobs has been granted 82,474 restricted stock units as part of his employment package, vesting over two years.

Westwater is focused on developing battery-grade natural graphite and is primarily working on its Coosa graphite deposit.

Westwater Resources, Inc. (NYSE American: WWR) has announced its Annual General Meeting of Shareholders scheduled for May 10, 2023, at 9:00 am CDT. Shareholders eligible for voting will be determined as of March 13, 2023, and related materials are expected to be sent by March 20, 2023. The company highlights that its audited financial statements for 2022 included a going concern qualification, indicating potential financial distress. Westwater is focused on developing its Kellyton graphite processing plant in Alabama and the Coosa graphite deposit, marking its position in the battery-grade graphite sector.

Westwater Resources (NYSE American: WWR) announced significant developments, including an agreement with a Tier 1 electric vehicle battery manufacturer to supply Coated Spherical Purified Graphite (CSPG) from the Kellyton Graphite Processing Plant. This partnership is aimed at securing North American anode material following the Inflation Reduction Act. Additionally, an optimized Definitive Feasibility Study (DFS) has more than doubled the expected CSPG production to 7,500 metric tons annually, enhancing project economics with a pre-tax NPV of $417 million. The company reports a year-end cash balance of $75.2 million and a non-binding $150 million term sheet for private debt funding.

Westwater Resources, Inc. (NYSE American: WWR) has announced a conference call on March 7, 2023, at 9:30 AM EST, to discuss its financial results for the year ending December 31, 2022, and to provide updates on the construction progress at its Kellyton graphite plant.

CEO Frank Bakker, CFO Steven M. Cates, and Executive Chairman Terence J. Cryan will lead the call, addressing financial results and ongoing projects. The Kellyton facility is pivotal for Westwater's goal to become a key supplier of battery-grade natural graphite.

Idaho Strategic Resources (IDR) has withdrawn its acquisition proposal for Westwater Resources (WWR) at $1.36 per share, citing WWR's Board's refusal to engage in discussions. The proposal represented a 73% premium to WWR's last trading day before the announcement on December 22, 2022. IDR's President John Swallow expressed disappointment over the lack of constructive dialogue, emphasizing the potential for value creation in a new domestic critical minerals supply chain. IDR plans to refocus on its production strategy while monitoring Westwater's situation, aiming to build long-term value and maintain discipline in mergers and acquisitions.

Idaho Strategic Resources (IDR) has proposed a merger with Westwater Resources (WWR) at an attractive premium of approximately 73%, valuing WWR at $1.36 per share. This merger aims to create a leading critical minerals company in the U.S., focusing on graphite, rare earth elements, and gold. Despite WWR's ongoing zero revenue and past 95% stock decline, Idaho Strategic claims that their leadership team has significant industry experience. They urge WWR's board to seriously consider the offer while highlighting that shareholders deserve better than the current management's track record of stock dilution.