The Energy Report - Mon, Jan 7, 2019

Energy Company Produces Vanadium Concentrate in Utah

This miner discussed 2019 plans for its vanadium and uranium projects.

White Mesa Mill

This month, Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.American) produced its first vanadium concentrate, or black flake, from the tailings pond solution at its White Mesa mill, it announced in a news release. "We are extremely pleased with the quality and purity of our initial batches of finished vanadium product," which should meet or exceed the requirements of potential buyers, President and CEO Mark Chalmers said in the release.

After ramping up vanadium production during Q1/19, the company aims to reach full production of 200,000-225,000 pounds of vanadium by quarter's end, provided the efforts remain economically viable.

In other news, Energy Fuels plans this year to institute $4.2 million worth of programs at its various projects in preparation for boosting uranium production once the market for the element improves.

These initiatives include continuing test mining at La Sal and potentially starting the same at the Pandora mine there, too, with the goal of determining the best mining method for selectively targeting areas of high-grade vanadium. The company will provide an update on the test mining in Q1/19 and a decision on whether or not it will expand the program.

At its Nichols Ranch in situ recovery plant, the miner will "install new ion exchange capacity" and upgrade other equipment to increase flow and decrease costs, according to the release.

At Alta Mesa, Energy Fuels plans a 200-hole surface drilling program to update and grow the uranium resources there and possibly increase the mine life.

At its Canyon mine, the company will evaluate the copper metallurgy and conduct other development work.

Lastly, Energy Fuels guided to producing 50,000-125,000 pounds of uranium in 2019, 50,000-75,000 pounds of it from Nichols Ranch. As for vanadium, management expects to sustain steady state production of 200,000-225,000 pounds per month, once reached, through the first half of 2020.

The energy firm does not have any sales commitments for uranium in 2019 but expects to sell its vanadium within one to three months of production.

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: Energy Fuels.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

InvestorsGuru.com publishes interesting contributor articles in addition to its own content. We have not verified any of the above details.

Sign-up at InvestorsGuru.com (or blog.InvestorsGuru.com) for our Small Cap Stock Observer newsletter, and to set-up your own My Portfolio, My Watchlist & Alerts and News by Email preferences, or to post at our AnyTicker.com Bulletin Boards. Free!

Please note that nothing in this report should be taken as a recommendation in any way, and that everything from InvestorsGuru.com is subject to the terms of our Privacy Policy and Disclaimer.

comments powered by Disqus

Detailed Quote Portal

symbol lookup | (TSX add :ca)

Membership Privileges

  • Investors Guru Small Cap Stock Observer - newsletter emailed monthly!
  • Featured Stock Profiles - emailed on occasion!
  • News by Email - as it's released, according to your My Preferences!
  • My Portfolio - login to view or update your holdings, or have it emailed daily!
  • My Watchlist & Alerts - login to view or update your stock radar list, and set price triggers for email alerts!
  • Bulletin Boards - no need to request boards, just Quote it! Social Sign-on & Share your ideas, observations & trends!
  • Find it all! Find it Fast! Comprehensive stock research webpages. No more endless clicking!

Email: (see Privacy Policy)
Password: (4-15 characters)
Username: (4-15, BB posts etc)

unsubscribe anytime


Bookmark and Share

 Subscribe in a reader

Our Mobile Site