On June 4, Energy Fuels’ (NYSE MKT:UUUU) (TSE:EFR) president and CEO, Stephen Antony, will discuss the company’s recent accomplishments at Cantor Fitzgerald’s 2nd annual Global Uranium Conference in New York City.Antony will discuss Energy Fuels’ rise, becoming the leading diversified producer of uranium in the United States after it completes the acquisition of Uranerz Energy Corp. later this year.
Energy Fuels is also the owner and operator of the Roca Honda Project in New Mexico, which according to a preliminary economic assessment and technical report (PEA) filed last February, will produce a yearly average 2.6 million pounds of U3O8 with a nine-year mine life. The company recently announced that it was acquiring a strategic land package from Uranium Resources, which provides the potential to further enhance the project economics. Roca Honda sits adjacent to General Atomics’ Mt. Taylor uranium mine, which has over 80 million lbs. of Uranium Resources with excellent average grades. At this time, Energy Fuels’ nearby White Mesa Mill is the only facility capable of processing this material.
Antony will also present Energy Fuels’ successes in the context of the current uranium market. Indeed, despite the continued challenges, the company has maintained a strong balance sheet, strategically positioning itself for future improvements in the price of uranium.
The US uranium producer, which reports in US currency, posted gross profit of US$3.65 million on revenue of $7.6 million for the three months to March 31 for a margin of 48% in the first quarter of 2015.
The event will bring industry leaders representing every publicly traded, uranium-focused producer in the world, featuring companies that are working on world class uranium deposits from Canada and the United States to Kazakhstan, Namibia, Australia, Niger, Mongolia, Mali, and Zambia.
Apart from the performance of individual companies, the conference will debate the issue of uranium prices, which are predicted to rise sharply because mine level supplies are far lower than reactor demand.
Indeed, contributors will address the fact that some 15-20% of the uranium required to operate the 437 reactors around the world is still uncovered for 2016-2017 as well as an “unavoidable” supply deficit by 2020.=
A replay of the webcast will be available on Energy Fuels’ website (www.energyfuels.com) following Antony’s presentation.