Energy Fuels (NYSE American: UUUU) (TSX: EFR), the leading uranium producer in the United States, has released its financial results and corporate update for the year ended Dec. 31, 2021. Highlights of the report include the company’s net income of $1.5 million for 2021 along with a strong balance sheet showing $143.2 million in working capital, including $113 million of cash and marketable securities, $30.8 million in inventory and no short-term or long-term debt. According to the announcement, the company’s Dec. 31, 2021, product inventory would be valued at more than $60 million based on current commodity prices. The report noted that prices for all commodities produced by Energy Fuels increased during 2021. The company also reported that it is actively engaged in identifying selective long-term uranium sales contracts. In addition, the report noted that UUUU produced approximately 270 metric tons of mixed rare earth element (“REE”) carbonate containing 120 metric tons of total rare earth (“RE”) oxides during 2021; the company’s RE carbonate is currently the most advanced REE material being produced in the United States. Energy Fuels management will host a call and webcast on March 17, 2022, at 1 p.m. EDT to discuss its financial report and present a 2022 outlook for the company. Those interested in listening in can dial 1-888-664-6392, toll free in the United States and Canada. “In 2021, we believe Energy Fuels further strengthened its position as America’s leading multicommodity, critical mineral company, as we made excellent progress on our uranium, REEs, vanadium and medical isotope initiatives,” said Energy Fuels president and CEO Mark Chalmers in the press release. “We are deploying our ‘one-of-a-kind’ licenses, facilities and expertise to responsibly recover the critical elements needed for carbon-free nuclear energy, electric vehicle powertrains, wind generation, advanced electronics, grid-scale batteries, other clean energy and advanced technologies, and potentially cancer therapeutics. We are particularly proud of our accomplishments in REEs. We announced our entry into the REE business less than two years ago, and today we are ramping up our production of commercial quantities of RE Carbonate, which is a more advanced REE material than any other U.S. company is producing.”
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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. Energy Fuels also produces vanadium from certain of its projects as market conditions warrant and is ramping up to commercial production of 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 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 and 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. In addition to the above production facilities, Energy Fuels also has one of the largest S-K 1300- and NI 43-101-compliant uranium resource portfolios in the U.S. 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://nnw.fm/UUUU
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