Energy Fuels (NYSE American: UUUU) (TSX: EFR), the leading uranium producer in the United States, is taking significant strides to reduce debt while moving forward on the path to debt freedom. A recent article quoted Energy Fuels’ president and CEO Mark S. Chalmers on this initiative, stating, “Energy Fuels is proud to announce that we are paying off half of our debt on July 14, 2020, and that we expect to become debt free by the end of 2020. We are proactively managing our remaining debt to ensure we have the ability to pay it off on our own timing and terms and with minimal disruption. We believe it makes sense to redeem half of the Debentures now because the U.S.-Canada exchange rate is favorable, we have sufficient cash available, and we will avoid approximately US$350,000 in interest payments in 2020 by doing so. We will address the remaining Cdn$10,430,000 balance over the next several months when we think the timing is most appropriate.”
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About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant. Its corporate offices are near Denver, Colorado, and all of its assets and employees are 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 United States today, has a licensed capacity of over 8 million pounds of U3O8 per year and has the ability to produce vanadium when market conditions warrant. 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 currently on standby. In addition to the above production facilities, Energy Fuels has one of the largest NI 43-101 compliant uranium resource portfolios in the United States, including several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol UUUU; the company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol EFR. For more information, visit the company’s website at www.EnergyFuels.com.
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