- UUUU released Q1 2020 results demonstrating strong balance sheet, extensive uranium inventory
- Energy Fuels is largest U.S. uranium producer and a leading vanadium producer
- UUUU’s White Mesa Mill is only conventional uranium mill operating in the U.S. today; also evaluating entry into rare earth elements space
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), the largest producer of uranium and a leading producer of vanadium in the United States, recently released its financial results for the quarter ended March 31, 2020 (http://nnw.fm/wq7C6). The report shows a strong balance sheet with more than $48.4 million of cash, marketable securities, and uranium and vanadium inventories. In anticipation of the U.S. government’s plans to establish a domestic uranium reserve, the company strategically opted to not enter into any uranium sales commitments this year and is planning to add all 2020 uranium production to existing inventories. At current commodity prices, Energy Fuels inventories are valued at several million more than what is reflected on their balance sheet.
“At the end of 2020, we anticipate having nearly 700,000 pounds of uranium in inventory, which we hope to be able to sell to the U.S. government, or into otherwise improving uranium markets, at prices much higher than those we see today,” Energy Fuels President and CEO Mark S. Chalmers stated in a…
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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