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Energy Fuels reaffirms full-year production and sales guidance

Energy Fuels continued to focus in the third quarter on maintaining the strength of its balance sheet and pursuing alternate feed materials and land clean-up business opportunities at the White Mesa mill
Energy Fuels is hanging in there while energy prices are depressed

Energy Fuels Inc (TSE:EFR) sold 60,000 pounds of triuranium octoxide (U3O8) at an average realized price of US$58.28 per pound in the third quarter.

Uranium production totalled 465,000 pounds of U3O8, of which 170,000 pounds were for the company's account and 295,000 pounds were from alternative feed materials toll milled for the account of others.

The company reaffirmed its full-year production and sales guidance.

During the reporting period the company's Nichols Ranch in-situ recovery (ISR) facility surpassed one million pounds of total life-of-mine uranium production.

"During the past quarter, Energy Fuels continued to focus on maintaining the strength of our balance sheet and pursuing alternate feed materials and land clean-up business opportunities at the White Mesa mill,” said Stephen Antony, chief executive officer of Energy Fuels.

“During today's low uranium prices, Energy Fuels enjoys a number of potential revenue-generating opportunities, along with a supportive administration in Washington DC, that we believe recognizes the importance of maintaining a healthy US uranium mining industry,” he added.

“Energy Fuels' Nichols Ranch ISR facility surpassed one million pounds of U3O8 production during the past quarter. Our White Mesa mill continues to be a key part of the company due to its ability to generate cash from the processing of alternate feed materials and the potential to process material generated from land clean-up work,” Antony continued.

At the end of September the company had US$32.7mln of working capital.

Reflecting the currently depressed state of the uranium market, the company posted a net loss of US$4.77mln on revenue of US$5.50mln.


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