Energy Fuels (TSX: EFR) (NYSE American: UUUU) recently reported its financial results for the year ended December 31, 2019. Among the highlights, the Company reported, at December 31, 2019, $17.7 million in cash and marketable securities plus $22.8 million of inventory, including 515,000 pounds of uranium and 1,600,000 pounds of vanadium in the form of immediately marketable product. “Before giving you my views on Energy Fuels’ achievements in 2019, I’d like to say a few words about the global COVID-19 crisis. The world is currently focused on containing the spread of the virus, and equity markets are experiencing significant volatility,” Energy Fuels’ President and CEO Mark S. Chalmers stated in the news release. “At Energy Fuels, we are taking steps to respond to this evolving situation as well. In addition to protecting the safety and health of our employees, we are also acting aggressively to conserve our financial resources. Our ongoing focus on proactively maintaining a strong balance sheet, including the bought-deal financing we completed in mid-February, is particularly important in today’s environment. We support the Trump Administration’s efforts to contain the virus and bolster the U.S. economy, and we will continue to seek immediate relief for U.S. uranium miners when and where it is appropriate, while also recognizing that the government is managing complex public health and financial challenges. We think Energy Fuels is in the best financial position of any U.S. uranium miner to weather the current storm. We wish all patients of the virus a full and speedy recovery.”
To view the full press release, visit http://nnw.fm/ee9Zf
About Energy Fuels
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 in Lakewood, Colorado near Denver, 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 U.S. 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 in operation and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest 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. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and 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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