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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
September 14, 2026
WESTWATER RESOURCES, INC.
(Exact Name of Registrant as Specified in Charter)
| Delaware |
|
001-33404 |
|
75-2212772 |
| (State or Other
Jurisdiction of |
|
(Commission File Number) |
|
(IRS Employer |
|
Incorporation) |
|
|
|
Identification No.) |
7000 East Belleview, Suite 220
Greenwood Village, Colorado |
|
80111 |
| (Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (303) 531-0516
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below):
| ¨ | Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class |
|
Trading Symbol(s) |
|
Name of Each Exchange
on Which Registered |
| Common Stock, $0.001 par value |
|
WWR |
|
NYSE American |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b–2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
Item 7.01 Regulation FD Disclosure
On September 14, 2026 at 2:00 p.m. ET,
Terence Cryan, Executive Chairman of the Board of Directors of Westwater Resources, Inc. (the “Company”), presented at
the H.C. Wainwright 28th Annual Global Investment Conference. A copy of the investor presentation that management of the Company
intends to use at the conference and from time to time thereafter, is furnished as Exhibit 99.1 to this Current Report on Form 8-K
(the “Investor Presentation”), and was posted to the Company’s website on September 14, 2026. The Investor
Presentation provides certain updates regarding the Company’s business plan. The foregoing description of the
Investor Presentation is not complete and is qualified in its entirety by reference to the full text of the
Investor Presentation, a copy of which is included as Exhibit 99.1 hereto.
The information furnished pursuant to Item 7.01,
including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of, or otherwise regarded as filed under,
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference
into any filing under the Securities Act of 1933, as amended (the "Securities Act") or in the Exchange Act, except
as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit
No. |
|
Description |
| 99.1 |
|
Investor Presentation, dated September 2026 |
| 104 |
|
Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
| |
Westwater Resources, Inc. |
| |
|
| Dated: September 14, 2026 |
/s/ Steven M. Cates |
| |
Steven M. Cates |
| |
Senior Vice President - Finance and Chief Financial Officer |
Exhibit 99.1
| 
| 1 | westwaterresources.net | NYSE: American – WWR
America’s Source for
Battery-Grade Graphite
September 2026
NYSE American: WWR |
| 
| 2
Cautionary Statement
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as “positioned to become,” “strategically located,” “driving structural growth,” “expected to deliver,” “longer-term,” “near-term,” “strengthen,” “near,” “aligns,”
“advancing,” “strategic,” “delivers,” “largest,” “approximately,” “less than,” “average,” “more than,” “expected,” “will increase,” “planned,” “advance,” “validation,” “supports,” “as soon as,” “additional,” “most-advanced,” “estimated,” “expected,” and other similar words. Forward looking statements include, among other things, statements concerning: off-take agreements and possible off-take agreements;
Westwater’s future sales of CSPG products, including the amounts, timing, and types of products included within those sales; potential debt financing arrangements for Phase I and Phase II of the
Kellyton Graphite Plant including the amount and type of debt and the schedule for closing; the anticipated timing for and annual production from Phase I and Phase II of Kellyton Graphite Plant; the
positive anticipated economic results from the Initial Assessment with Economic Analysis related to its Coosa Graphite Deposit; permitting plans and drilling plans for the Coosa Graphite Deposit
including their timing and results; and the construction and operation of the Kellyton Graphite Plant and the Company’s Coosa Graphite Deposit and its PEA, and the costs, schedules, and production and
economic projections associated with both of them. The Company cautions that there are factors that could cause actual results to differ materially from the forward-looking information that has been
provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other
factors, many of which are outside the control of the Company; accordingly, there can be no assurance that such suggested results will be realized.
Because they are forward-looking statements, they should be evaluated in light of important risk factors and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include the following factors, in addition to those discussed in Westwater’s Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent securities filings: (a) the
spot price and long term contract price of graphite (both flake graphite feedstock and purified graphite products) and vanadium, and the world-wide supply and demand of graphite and vanadium; (b)
the effects, extent and timing of the entry additional competition in the markets in which we operate; (c) our ability to obtain contracts or other agreements with potential customers and to maintain
contracts and other agreements with existing customers; (d) available sources and transportation of graphite feedstock; (e) the ability to control costs and avoid cost and schedule overruns during the
development, construction and operation of the Kellyton Graphite Plant or the Coosa Graphite Deposit; (f) the ability to construct and operate the Kellyton Graphite Plant or the Coosa Graphite Deposit in
accordance with the requirements of permits and licenses and the requirements of tax credits and other incentives; (g) effects of inflation, including labor shortages and supply chain disruptions; (h) rising
interest rates and the associated impact on the availability and cost of financing sources; (i) potential debt financing arrangements including the amount and type of debt and the schedule for closing; (j)
the availability and supply of equipment and materials needed to construct the Kellyton Graphite Plant or the Coosa Graphite Deposit; (k) stock price volatility; (l) government regulation of the mining and
manufacturing industries in the United States; (m) unanticipated geological, processing, regulatory and legal or other problems we may encounter; (n) the results of our exploration activities at the Coosa
Graphite Deposit, and the possibility that future exploration results may be materially less promising than initial exploration results; (o) any graphite or vanadium discoveries at the Coosa Graphite Deposit
not being in high enough concentration to make it economic to extract the minerals; (p) our ability to finance growth plans; (q) our ability to obtain and maintain rights of ownership or access to our
mining properties; (r) currently pending or new litigation or arbitration; (s) our ability to maintain and timely receive mining, manufacturing, and other permits from regulatory agencies; and (t) other
factors which are more fully described in our 2025 Annual Report on Form 10-K, 2026 Quarterly Reports on Form 10-Q, and other filings with the SEC.
Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there
may be other factors that cause results not to be as anticipated, estimated or intended. You are cautioned not to place undue reliance on forward-looking statements. There can be no assurance that
these statements will prove to be accurate as actual results and future events could differ materially from those anticipated in the statements. Actual results may differ materially from those expressed or
implied by these forward-looking statements because of, among other reasons, the factors described above and in the periodic reports that we file with the SEC from time to time, including Forms 10-K,
10-Q and 8-K and any amendments thereto. Except as required by law, we assume no obligation to publicly update any forward-looking statements and forward-looking information, whether as a result
of new information, future events or otherwise. |
| 
| America’s Source for
Battery-Grade
Graphite
Positioned to become
the 1
st US-based
producer of battery-grade
natural graphite
Strategically located in the U.S.
Battery Corridor, near major
EV and battery hubs
Corporate
Headquarters
Centennial, Colorado,
USA
Coosa Graphite
Deposit
Coosa County,
Alabama USA
Kellyton Graphite
Plant
Kellyton,
Alabama, USA
3 |
| 
| Westwater’s Value Proposition
4
Mine-to-Market
Model
Phased
Development
Experienced
Leadership
Right
Timing
Advancing capacity in a
market with limited U.S.
graphite processing,
demand for a domestic
supply chain, and
government policy support
Leadership and Board
expertise across
industrial operations,
mining, and capital
markets
Phased plant
development aligns
capital deployment with
production milestones
and market demand
Strategic
Location
Located in Alabama,
U.S.A., in the heart of the
the U.S. Battery Corridor
and near major EV and
battery manufacturing
hubs
Connecting domestic
resource development
with U.S. processing to
strengthen supply
continuity and
operational control |
| 
| 5
Graphite is a Critical Mineral
Used in Multiple Battery
Applications
5
Natural Graphite Demand Drivers
Electric Vehicles
Industrial, Defense & Other
Battery Energy Storage
Nickel 30%
Cobalt 8%
Manganese 8%
Lithium 4%
Lithium-Ion Battery Composition
Graphite
Anode
~50%
Cathode
(Li, Ni, Co, Mn) |
| 
| 6
Battery Demand is Driving
Structural Growth in
Graphite
6
671 794 925 1009 1083 1202
1347
1581
1722
1968
2214
2557
2793
3046 3170 3281
2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
EV BESS Other Portables
Flake Battery Demand by Application (kt)1
1 Source: Benchmark Mineral Intelligence Q2 2026. |
| 
| The U.S. Imports 100% of
Battery-Grade Natural
Graphite
7
21.0%
1.3%
77.6%
Natural Graphite AAM Supply1
1 Source: Benchmark Commodities Update: Graphite. 2026.
16.2%
7.1%
2.3% 0.9%
73.4%
Asia (ex-China) North America
Europe Others
China
2025 2035 100%
CHINESE |
| 
| 8
8
Strategic Location: In the Heart
of the U.S. Battery Corridor
Coosa Graphite
Deposit
Kellyton
Graphite
Plant
Montgomery
Birmingham
Port of
Mobile
Alabama |
| 
| 9
Mine-to-Market Model:
Vertical Integration that Delivers
9
Mining Processing End Product
Coosa Graphite Mine Kellyton Graphite Plant Battery-Grade Natural Graphite
Mining and flotation of natural
graphite
Milling, sizing, shaping and
purification produces coated
spherical purified graphite (CSPG)
Battery-grade CSPG used in lithium-ion batteries
30 Miles |
| 
| 10
Kellyton Graphite Plant
Offers Domestic Processing
Capabilities
10
Under construction with more than 50% of $245 million
capital cost invested to date; $25 million EXIM loan
approved
Phase 1 expected to deliver 12,500mtpa battery-grade
natural graphite; Phase 2 will increase planned capacity to
a total of 50,000 mtpa
Ongoing customer engagement to secure offtake for
Phase 1 capacity
Qualification line capacity of >1Mt for customers
Westwater’s patented purification process has produced
quality project samples for customer qualification
processes |
| 
| 11
Export-Import Bank of the
U.S. Approves $25 Million
Direct Loan for Kellyton
11
Federal Support for Kellyton
$25 million EXIM direct loan approved to
advance Kellyton
Federal validation of Kellyton’s strategic
importance
Non-dilutive capital supports the path to
commercial production as soon as 2028
Pursuing other, additional forms of
government funding
President Trump Announces Approval
August 7, 2026 |
| 
| 12
Coosa Graphite Deposit
to Provide Long-term, Domestic
Feedstock for Kellyton
12
Largest, most-advanced graphite deposit in the
contiguous United States; located 30 miles from Kellyton
Graphite Plant
~42,000 acres of mineral rights; 234 drill holes completed
to date, representing less than 10% of the acreage
Exploration to date yields 2.3Mst of natural graphite at an
average grade of 3.21%
2023 Initial Assessment indicates a 22-year mine life
producing 99,000 st/yr of flotation concentrate grading
95% Cg
Feedstock supply agreement in place with non-Chinese
supplier until Coosa operational |
| 
| 13
Permitting Progress at Coosa:
Production Expected Late 2028
/ Early 2029
13
2026 Key Permits Filed
U.S. Army
Corps of
Engineers
Permitting Timeline Under Federal FAST-41 Program1
Alabama
Department of
Environmental
Management
September 2026
1 Source: Federal Permitting Dashboard, Coosa Graphite Deposit Project. Estimated environmental review and permitting complet ion date: June 25, 2027.
Agency-reported dates are subject to change. |
| 
| 14
Westwater Catalysts
14
Coosa Permitting & Mine Design
Underway
Secure Kellyton Phase 1 Offtake
Complete Kellyton Phase I Financing
Commercial Production Kellyton Phase 1
Near – Term Longer – Term (12+ Months)
Coosa Advancement to Production
Secure Kellyton Phase 2 Financing
Secure Kellyton Phase 2 Offtakes
Kellyton Phase 2 Construction &
Production |
| 
| Westwater’s Value Proposition
15
Mine-to-Market
Model
Phased
Development
Experienced
Leadership
Right
Timing
Advancing capacity in a
market with limited U.S.
graphite processing,
demand for a domestic
supply chain, and
government policy support
Leadership and Board
expertise across
industrial operations,
mining, and capital
markets
Phased plant
development aligns
capital deployment with
production milestones
and market demand
Strategic
Location
Located in Alabama,
U.S.A., in the heart of the
the U.S. Battery Corridor
and near major EV and
battery manufacturing
hubs
Connecting domestic
resource development
with U.S. processing to
strengthen supply
continuity and
operational control |
| 
| 16
Financial Overview
NYSE American: WWR
Shares O/S1
128.6M
Market Cap
$482M – $49M
52-Week Range
$3.75 - $0.38
High - Low
$152M
Pre-Tax NPV @ 8%
Avg. Annual Production
Development Capital
Kellyton
Phase 1 Feasibility
Study (2023)
Pre-Tax IRR %
12,500 mtpa CSPG3
Coosa Initial
Assessment
(2023)
$245M (~$130M spent to date)4
24.7%
$417M
3,333 st (Cg conc.)
26.7%
$229M
Kellyton
Phase II Feasibility
Study (2024)
37,500 mtpa CSPG
$453M
31.8%
$1.4B
1 Shares outstanding as of June 30, 2026.
2 Cash on hand as of June 30, 2026.
3 Production capacity for Phase 1 has increased from 3,750 mtpa (2021 Definitive Feasibility Study) to 12,500 mtpa as announced in
February 2024.
4 Development capital originally estimated to be $271 million as part of the 2023 Definitive Feasibility Study; revised to $245 million in 2024.
Approximately $130 million spent to date as of June 30, 2026.
Cash2
$38.2M
Covering Analysts
H.C. Wainwright
Maxim Group
D. Boral Capital |
| 
| 17 | westwaterresources.net | NYSE: American
– WWR
With growing federal
support for secure,
domestic critical mineral
supply chains,
Westwater Resources is
positioned to be
America’s source for
battery
-grade graphite.
InvestorRelations
@
NYSE
-A: WWR
Westwater Resources
Corporate
Headquarters
7000 East Belleview
Ave. Suite 220
Greenwood Village, CO
80111
Kellyton Graphite
Processing Plant
349 McClellan Industrial
Drive
Kellyton, Alabama
35089
WestwaterResources.com |