Energy Fuels Inc Ordinary Shares (Canada) (UUUU)

Energy Fuels (NYSE American: UUUU) (TSX: EFR) announced a Memorandum of Understanding (“MOU”) with the Government of Madagascar to advance the Toliara titanium, zirconium, and rare earth elements (“REE”) project in southwestern Madagascar. Following the lifting of a 2019 suspension, the MOU establishes terms for royalties, development funding, and community investments, including a 5% royalty on mining products and $80 million in funding post-certification. Energy Fuels committed to environmentally and socially responsible operations, with plans to update feasibility studies to reflect current economics. The Malagasy government agreed to support project permitting, maintain fiscal and legal stability, and publicly back the development. The MOU includes conditions such as certification under Madagascar’s large-scale investment regime, with the goal of achieving a positive final investment decision within 14 months.

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Energy Fuels (NYSE American: UUUU) (TSX: EFR) reported Q3 2024 results, emphasizing its robust financial position, new uranium contracts, and progress in rare earth element (REE) production. With $183.16 million in working capital and no debt, the company continues to lead in U.S.-based uranium production while expanding into rare earths through a newly commissioned REE separation circuit at the White Mesa Mill. Energy Fuels also closed a major acquisition of Base Resources’ Toliara project, securing global feedstock sources. The quarter saw the sale of 50,000 pounds of U3O8, a new long-term contract with a U.S. utility, and an inventory of critical materials positioning it for future growth.

Energy Fuels (NYSE American: UUUU) (TSX: EFR) a leading U.S. producer of uranium and rare earth elements, will hold a conference call and webcast on Friday, Nov. 1, 2024, at 10 a.m. Mountain time to review its financial results for the third quarter ending Sept. 30, 2024. The financial results will be released in a press statement prior to the call, and the session will include a question-and-answer segment with company management.

Energy Fuels (NYSE American: UUUU) (TSX: EFR), an industry leader in the U.S. production of uranium and rare earth elements (“REE”) hosted a conference call this morning. The call began at 9 a.m. ET and focused on the company’s recently completed acquisition of Base Resources Limited. Mark Chalmers, Energy Fuels president and CEO, was joined by Tim Carstens, managing director of Base Resources, on the call, which included time for questions and answers. A replay of the call is available until Oct. 14, 2024, by dialing 1-289-819-1450 in Toronto or 1-888-660-6345 (toll free in North America), then use entry code 95890#.

Energy Fuels (NYSE American: UUUU) (TSX: EFR), an industry leader in uranium and rare earth elements (“REEs”) production for the energy transition, has completed the acquisition of Base Resources Limited, which is an established heavy mineral sand (“HMS”) and critical mineral company. The transaction involved the issuing of Energy Fuels shares valued at approximately $178.4 million. The acquisition includes the world-class Toliara Project in Madagascar, which Energy Fuels says is the best critical-mineral-development project in the world.

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Energy Fuels (NYSE American: UUUU) (TSX: EFR) is an industry leader in uranium and rare earth elements (“REE”) production for the energy transition. The company today announced that the Federal Court of Australia has approved its proposed acquisition of Base Resources Limited via a scheme of arrangement prescribed by Australia’s Corporations Act.

Energy Fuels (NYSE American: UUUU) (TSX: EFR), an industry leader in uranium and rare earth elements (“REE”) production for the energy transition, has been working to prepare for the restart of its Nichols Ranch in-situ recovery (“ISR”) uranium mine in Wyoming. This work is advancing as planned, with initial pre-production drilling intercepts showing stronger mineralization than anticipated. According to the announcement, 39 drill holes have been completed to date. All but four have uranium mineralization while five have encountered mineralization greater than 1.0 GT. Energy Fuels expects the development of the rest of its permitted Production Area 2 (“PA2”) to be ready to start production as early as July 1, 2025, based on market conditions.

Energy Fuels (NYSE American: UUUU) (TSX: EFR), an industry leader in uranium and rare earth elements (“REE”) production for the energy transition, announced that Base Resources’ shareholders overwhelmingly approved the company’s planned acquisition of Base Resources at a special meeting held in Perth, Australia on September 5, 2024. Closing of the transaction is expected to occur on October 2, 2024, with closing subject to approval by the Federal Court of Australia and other routine conditions.

Energy Fuels (NYSE American: UUUU) (TSX: EFR), an industry leader in uranium and rare earth elements (“REE”) production for the energy transition, is announcing the acquisition of RadTran LLC, a private company specializing in the separation of critical radioisotopes. Completed on August 16, 2024, the acquisition aims to further Energy Fuel’s plans to develop and produce medical isotopes used in cancer treatments. It is expected to significantly enhance the company’s planned capabilities to address the global shortage of radium-226 and radium-228, essential isotopes used in emerging targeted alpha therapies (“TAT”) for cancer treatment. RadTran’s expertise includes separation of these isotopes from uranium and thorium process streams.

Energy Fuels (NYSE American: UUUU) (TSX: EFR), an industry leader in uranium and rare earth elements production for the energy transition, has scheduled a conference call and webcast. The company announced that the event will be held on Aug. 5, 2024, at 10 a.m. MT. During the webcast, management will discuss the financial results from the company’s second quarter 2024 financial report, which will be released prior to the call. The webcast will also include time for a question-and-answer session. Those wanting to participate can call into the event by dialing 1-800-836-8184 toll free. A replay of the call will be available until August 19, 2024. Those who wish to hear the replay may call 1-888-660-6345 (in North America) or 1-289-819-1450 (Toronto) and use the entry code 62571#.

Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of uranium, rare earth elements (“REEs”) and vanadium, today announced the appointment of Debra Bennethum as its director, critical minerals and strategic supply chain. Bennethum is a chemical engineer who previously served as the EV critical minerals manager in the global purchasing and supply chain division of General Motors (“GM”), and previously as the program purchasing manager for GM’s battery electric vehicles and crossovers division. “I would like to personally welcome Debra Bennethum to the Energy Fuels team. Ms. Bennethum brings a wealth of knowledge and relationships in EV and automotive supply chains to advance Energy Fuels’ U.S.-leading, integrated rare earth business, which recently began commercial production of ‘on spec’ separated rare earths at our White Mesa Mill in Utah, USA. Ms. Bennethum will be based in Detroit, Michigan, which is the hub of the U.S. automotive industry,” said Mark S. Chalmers, President and CEO of Energy Fuels. “Having worked at GM for over 12 years, including key roles in EV, hybrid and critical mineral supply chains, we believe Ms. Bennethum is the ideal person to lead Energy Fuels’ rare earth marketing efforts and collaborations, including the sale of our products to metal-makers, magnet-makers, EV and automotive OEMs, renewable energy companies, rare earth recycling companies, U.S. defense suppliers, and other customers. Ms. Bennethum is well-known throughout the rare earth industry, and we believe her decision to join Energy Fuels is a significant ‘vote of confidence’ in our rare earth plans going forward.”

Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based, critical-minerals company, is reporting on the results of the election of directors. According to the announcement, the elections were held during the company’s recent virtual annual and special meeting of shareholders, which was held on June 11, 2024. The company reported that all 10 nominees that had been proposed by management were elected directors by company shareholders by more than 90% of the votes. The 10 nominees who were elected include the following: J. Birks Bovaird, Mark S. Chalmers, Benjamin Eshleman III, Ivy V. Estabrooke, Barbara A. Filas, Bruce D. Hansen, Jaqueline Herrera, Dennis L. Higgs, Robert W. Kirkwood and Alexander G. Morrison.

Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of uranium, rare earth elements (“REEs”) and vanadium, today announced that it has achieved commercial production of separated neodymium-praseodymium (“NdPr”) at its White Mesa Mill in Utah. According to the announcement, the NdPr produced by Energy Fuels meets applicable product specifications of REE metal makers who specialize in the manufacture of REE-based alloys required for the permanent magnets widely used for electric motors in both battery powered electric vehicles (“EVs”) and dual power hybrids. Further, Energy Fuels is now able to produce this “on-spec” NdPr at the full design capacity of its new phase 1 REE separation circuit (850 to 1,000 metric tons “tonnes” of NdPr per year). The company expects to have commercial quantities of separated NdPr available for shipment by the end of this month. Energy Fuels believes this is the first time in several decades that a U.S. company has produced on-spec separated REE from monazite on a commercial scale.

Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of uranium, rare earth elements (“REEs”) and vanadium, has executed binding agreements with Astron Corporation Limited. The agreements create a joint venture between the two companies to develop and operate the Donald Rare Earth and Mineral Sands Project; the project is located in Wimmera Region, Victoria, Australia. A world-class, world-scale, REE and heavy mineral sand (“HMS”) deposit, the Donald Project has the potential to supply anywhere from 7,000–14,000 tonnes of monazite sand in an REEconcentrate to Energy Fuels’ Utah-based White Mesa Mill. Australian-based Astron has been involved in mineral sands processing, downstream product development, and the marketing and sales of zirconium and titanium-related products for more than three decades. “Energy Fuels is truly excited to embark on this joint venture with Astron on the development and operation of the Donald Project in Australia,” said Energy Fuels president and CEO Mark Chalmers in the press release. “We have enjoyed working with the Astron team, and we look forward to making this world-class rare earth and critical mineral deposit a reality in Australia, which is one of the closest allies of the U.S. I’ll add that the sequencing of our uranium, rare earth and mineral sand production ramp-ups is proceeding extremely well in relation to commodity markets, while maximizing operating capacity and workforce allocation at our White Mesa Mill. Uranium markets are currently gaining strength, and we have long-term supply contracts to fulfill, so 2024 is a good year to ramp-up our low-cost uranium production.”

Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of uranium, rare earth elements (“REEs”) and vanadium, has released financial results for the quarter ended March 31, 2024. Highlights of the report include recorded net income of more than $3 million; a balance sheet showing more than $220 million of liquidity and no debt; an estimated $20 million-plus of additional liquidity from market value of inventory; uranium drives revenue totaling gross profit of $14.26 million and an average gross margin of 56%; the completion of SX phase 1 REE separation circuit development; and sufficient inventory stocked to capture market opportunities. The report also noted that Energy Fuels is capitalizing on strong uranium pricing and is ramping up its rare earth element operations while also producing high-purity V2O5 on occasion and holding approximately 905,000 pounds of V2O5 in inventory. The company is also advancing its program to evaluate the potential to recover radioisotopes from its process streams for use in emerging targeted alpha therapy cancer therapeutics. “Energy Fuels maintained our momentum from 2023, by reporting continued profitability in Q1 2024, driven mainly by uranium,” said Energy Fuels president and CEO Mark S. Chalmers in the press release. “We also continued to make extraordinary progress diversifying into the complementary HMS and rare earth oxide businesses. . . . At Energy Fuels, we are building a diversified, U.S.-based critical minerals company, centered on our core uranium processing capabilities. Our goal is to create a profitable company able to withstand the business cycles associated with many critical minerals. We plan to be globally competitive in these markets, offering commercial and government customers a reliable, low-cost U.S. alternative.”

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Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of uranium, rare earth elements (“REEs”) and vanadium has executed a definitive scheme implementation deed (“SID”) with Base Resources Limited. According to the agreement, Energy Fuels has agreed to acquire 100% of the issued shares of Base Resources in consideration for 0.0260 Energy Fuels common shares and A$0.065 in cash; the transaction will be payable by way of a special dividend by Base Resources to its shareholders for each Base Resources ordinary share held. The transaction has a total equity value of an estimated A$375 million. Highlights of the agreement include that the acquisition will include Base Resources’ wholly owned, advanced, world-class Toliara heavy mineral sands project in Madagascar and that Toliara monazite will be produced at UUUU’s White Mesa Mill into separated REE oxides. The company also noted that the transaction will also secure Base Resources’ mine development and operations team, which has an established track record. In addition, Energy Fuels is engaged in high-level discussions with U.S. government agencies and other entities that provide support for both domestic and international critical mineral projects.“The acquisition of Base Resources and the Toliara project represents a monumental leap forward for the company, as we continue to execute on a truly revolutionary REE, uranium and critical mineral combined strategy,” said Energy Fuels president and CEO Mark Chambers in the press release. “For the past four-plus years, Energy Fuels has innovated a new way to produce critical minerals, that we believe is more cost competitive than traditional approaches, by leveraging our uranium processing expertise and infrastructure to develop a secure, U.S.-centric REE oxide supply chain. . . . The transaction will not only secure a world-class project for Energy Fuels at a highly attractive acquisition price compared to the fundamental value of the project but will also secure a mine development and operations team with a successful track record of designing, constructing and profitably operating a world-class heavy mineral sands operation in Africa.”

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PALM BEACH, Fla., May 07, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - An article from REUTERS on the Uranium markets earlier this year painted a prosperous picture for the global Uranium. The report said: “Investment banks Goldman Sachs and Macquarie as well as some hedge funds are positioning themselves to reap the benefits of a newly buoyant uranium sector as prices of the nuclear fuel ingredient spike. While many other investment banks are still avoiding uranium, Goldman and Macquarie are boosting trading in physical uranium and in Goldman's case trading its options as well, five industry and hedge fund sources with knowledge of the deals said. The heightened activity comes as utilities seek new supplies amid shortfalls that have lifted prices to 16-year highs.”   It continued: “A few hedge funds are also stepping up involvement in both equities and physical uranium, a sign that the metal is starting to broaden its appeal to financial institutions after a decade in the doldrums following the Fukushima nuclear disaster.   With the headlines and positive momentum in nuclear more generally, hedge funds and other commodity investors are back in the (uranium) sector. A lot of it is done via physical funds, the easiest way to get exposure to uranium prices,” said Bram Vanderelst at trading firm Curzon Uranium.   The metal has captured investors' attention after prices doubled over the past year to $102 a pound as top producers Kazatomprom and Cameco cut production guidance because reopened mines that had been mothballed struggled to ramp up production to meet renewed demand.”   Active mining companies in the markets this week include Stallion Uranium Corp. (OTCQB: STLNF) (TSX-V: STUD) (, enCore Energy Corp. (NASDAQEU), Forum Energy Metals Corp. (OTCQB: FDCFF) (TSX-V: FMC), Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), Ur-Energy Inc. (NYSE American: URG).

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