The Energy Report - Wed, Oct 16, 2019

U.S. Uranium Company Shortens Time Required to Production at Mines

It did this through capital improvements at each of its various facilities.

White Mesa Mill

Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.American) reported in a news release it invested capital in its operations to reduce their time to production.

This release comes after reports that the U.S. Nuclear Fuel Working Group's deadline to deliver recommendations to President Trump was extended by up to 30 days from Oct. 10.

Energy Fuels noted, however, it is unaware of any official announcement in this regard.

Mark Chalmers, the company's president and CEO, reiterated Energy Fuels' position, in the release: "As the leading uranium miner and miller in the U.S., Energy Fuels stands ready to do our part in leading the renaissance of U.S. nuclear fuel production. We believe our production scalability and degree of readiness are unparalleled among U.S. producers."

The release reviewed the time to production for its operations. At its Canyon mine in Arizona, production could commence in about nine months from a positive production decision. Product would be ready to sell in about 12-18 months.

At its La Sal Complex in Utah, Energy Fuels could resume production within weeks of deciding to go forward.

With respect to its Alta Mesa in situ recovery project in Texas, Energy Fuels asserts it could increase uranium production there in about 12-18 months of being greenlighted.

As for its Nichols Ranch in situ recovery project in Wyoming, the company could increase uranium production from it in nine to 12 months of a positive production decision.

Regarding its White Mesa Mill, also in Utah, this facility would process all finished uranium concentrates from its La Sal Complex, Canyon and any other regional mines that produce in the future.

Also, the mill currently is processing material from the clean-up of a private uranium mine, work which the company intends to continue pursuing with abandoned mines on the Navajo Nation and in other parts of the Four Corners region.

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 billboard sponsors of Streetwise Reports: Energy Fuels Inc.. Click below for important disclosures about sponsor fees.
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