- Financial report notes working capital of $44.7 million at end of Q3 2020, increase of 17% over Q2 2020
- Key quarter highlights include becoming debt-free, progress on rare earth elements (“REEs”)
- CEO reports company making “significant strides in the last quarter on our uranium, rare earths and other initiatives”
Energy Fuels (NYSE American: UUUU) (TSX: EFR) has released its financial results for the quarter ended Sept. 30, 2020, as well as a corporate update (https://ibn.fm/dZn68). In addition to being debt free, the report noted that the company had working capital of $44.7 million at the end of Q3 2020, which is an increase of 17% over Q2 2020. The working capital included $28.1 million in cash and marketable securities, plus $25.6 million of concentrate inventory and work in progress. Following the end of the quarter, the company retired all of its outstanding debt.
Another key quarter highlight for Energy Fuels includes being selected by the U.S. Department of Energy (“DOE”) to develop a design for the production of a rare earth element (“REE”) concentrate from coal-based resources. The company will work with a team from Penn State University on the project. Energy Fuels’ management team anticipates that the REEs contained in…
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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