MiningNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Reports Second Quarter 2022 Results
August 08, 2022 at 11:30 AM EDT
Energy Fuels (NYSE American: UUUU) (TSX: EFR), the leading uranium producer in the United States, has filed its Q2 2022 financial results for the period ended June 30, 2022; the company also scheduled a webcast to discuss those results. The webcast is slated for Aug. 9, 2022, at 4 p.m. EDT. Highlights of the report show that Energy Fuels has a robust balance sheet with $134.1 million of working capital; total includes $86.4 million in cash and cash equivalents, $11.8 million marketable securities and $28.6 million of inventory with no debt; the report noted that at current commodity prices, the company’s product inventory has a value of $43.9 million. The report also stated that UUUU incurred a net loss of $18.1 million, including a noncash, mark-to-market decrease in the value of investments.
Corporate highlights included that Energy Fuels entered into three long-term uranium sales contracts with U.S. nuclear utilities, with base quantities under these contracts totaling 3 million pounds with deliveries to occur during the next seven year; the company noted that if the buyers exercise all options, delivery quantities could increase to as much as 4.2 million pounds. In addition, in May 2022, Energy Fuels entered into agreements to acquire a 58-square-mile rare earth land position in Brazil known as the Bahia Project. Those interested in participating the results event, which will discuss UUUU’s Q2 2022 financial results as well as the company outlook for 2022, including uranium, rare earths, vanadium and medical isotopes can 1-888-664-6392, toll free in the United States and Canada. In addition, a recorded version of the webcast and call will be available on the company’s website or by calling 1-888-390-0541 and entering 536175. “Energy Fuels continues to make progress on all fronts of our uranium, rare earth, vanadium and medical isotope businesses,” said Energy Fuels president and CEO Mark Chalmers in the press release. “Uranium markets have been volatile but remain strong. We continue to believe the short- and long-term fundamentals for uranium continue to point to higher pricing.”
To view the full webcast, visit https://ibn.fm/byl2E
To view the full press release, visit https://ibn.fm/520U9
About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects as market conditions warrant and is ramping up to full commercial-scale production of rare earth (“RE”) carbonate. With corporate offices in Lakewood, Colorado, and all of its assets and employees in the United States, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today and has a licensed capacity of more than 8 million pounds of U3O8 per year; the mill also has the ability to produce vanadium when market conditions warrant, as well as RE Carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U308 per year. In addition to the above production facilities, Energy Fuels has one of the largest S-K 1300- and NI 43-101-compliant uranium resource portfolios in the United States and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. For more information, visit the company’s website at www.EnergyFuels.com.
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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