Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


U.S. Uranium Firm to Acquire Prompt Fission Neutron Technology, Assets
News Update

Share on Stocktwits


Energy Fuels will have the exclusive right to use, license and service the technology globally.

Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.American) announced in a news release it entered an agreement to acquire from GeoInstruments Logging all of its prompt fission neutron (PFN) bore hole logging technology, equipment and related intellectual property for $500,000. The transaction is expected to close within two weeks.

Under the agreement, Energy Fuels will have the exclusive right to use, license and service the technology worldwide. With this PFN technology, the Colorado-based uranium company will be able to ramp up production at its in situ recovery (ISR) properties faster and more efficiently when market conditions improve. Also, it will be able to repair, service and maintain Energy Fuels and others' existing PFN equipment and license the technology.

"Energy Fuels' acquisition of this PFN equipment and technology will further solidify Energy Fuels' position as the leading uranium miner in the United States, especially in the ISR space. We believe that acquiring PFN technology is now more important than ever, as we believe a revival of the U.S. uranium industry is imminent," Energy Fuels President and CEO Mark S. Chalmers said in the release.

The assets being acquired are four PFN tools, nine gamma tools with point resistivity, spontaneous potential and deviation; two logging trucks with logging and associated equipment; power supplies, computers, communication and other technology; and intellectual property. The latter includes all corporate details of the tools, circuit board diagrams, firmware code, software, manuals, instructions and patents.

The company noted that PFN is critical to successful uranium production, particularly ISR, as it more accurately detects, defines the location and measures the grade of uranium ore than the traditional gamma and spectral gamma methods. Also, it reduces the costs and time associated with uranium drilling, exploration, analysis and production.

CEO Chalmers also stated, "On April 23, 2020, the U.S. Nuclear Fuel Working Group (NFWG) conclusively described why the U.S. needs healthy uranium and nuclear fuel industries in order to secure U.S. energy and national security and prevent Russia, China and other geopolitical rivals from gaining control of global and U.S. nuclear markets. We believe the NFWG report represents the strongest U.S. government commitment to supporting U.S. uranium miners in decades. The NFWG report also provides a menu of actions the U.S. government can take to support domestic uranium mining, including creating a U.S. uranium reserve, and potentially increasing the size of the American Assured Fuel Supply. We believe the NFWG report is an emphatic call for the U.S. government to take whatever actions are necessary to bring back U.S. uranium and nuclear fuel production. In response to the NFWG Report recommendations, President Trump has already announced a budget that seeks $150 million per year over the next 10 years (totaling $1.5 billion over that timeframe) to establish a strategic uranium reserve intended "to provide additional assurances of availability of uranium in the event of a market disruption."


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. Click here for important disclosures about sponsor fees.
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.

Want to read more about Uranium investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe