Energy Fuels Inc.

Energy Fuels Inc. is one of the largest producers of uranium in the United States, which is highly strategic as the United States is the World’s largest consumer of uranium. The company owns low-cost in situ uranium recovery (ISR) and conventional production operations in the U.S., including the Nichols Ranch ISR Project in Wyoming; the White Mesa Mill in Utah; and the Alta Mesa ISR Project in South Texas. Combined, the Company has over 11.5 million pounds of production capacity in its portfolio. The company also owns several mines on standby and in permitting that it can put into production as uranium prices recover.

Expert Comments:

headshot of Mark Reichman

Mark Reichman, Noble Capital Markets

"As of Sept. 30, 2019, Energy Fuels Inc. had 500 Klb finished uranium in inventory; if the U.S. government were to propose making minimum annual purchases to build stockpiles of uranium, the company does have inventory that could be sold immediately. We think Energy Fuels could ramp up production over a 12–18 month time horizon, with production potential of 2–2.5 Mlb annually by 2020E and higher in subsequent years."

headshot of Eric Coffin

Eric Coffin, HRA Journal

"Energy Fuels Inc. has a strong working capital position, so it can wait things out for a while longer, and it's readied itself as much as possible to be able to ramp up production quickly if a favorable market or White House announcement arrives."

Mike Kozak, Cantor Fitzgerald

"In an environment of higher uranium prices (via federal government intervention or otherwise), Energy Fuels Inc. is best positioned to ramp up production the fastest and at the lowest cost. . .while no official announcement has been made, a Bloomberg article overnight states that the U.S. Nuclear Fuel Working Group has recommended the U.S. Department of Defense step up direct purchases of domestically produced uranium."

Maurice Jackson
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The company is processing ore from clean-up material at a past-producing uranium mine.
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headshot of Mark Reichman

Mark Reichman, Noble Capital Markets

"During Q3/19, Energy Fuels Inc. recovered 16 Klb uranium concentrate from in situ recovery activities for the company's own account and 530 Klb vanadium from its pond solutions. . .during Q3/19, Energy Fuels spent $2.3M for development of its properties, including the development of the vanadium test mining program at the La Sal project, expenses associated with increasing vanadium production at the White Mesa Mill."

Mike Kozak, Cantor Fitzgerald

"Energy Fuels Inc.'s White Mesa processing facility remains highly strategic given that it is the only conventional uranium mill in the U.S. For this reason, we are optimistic that the company may stand to be a significant benefactor from the findings and recommendations made by the U.S. Nuclear Fuel Working Group."

headshot of Brien Lundin

Brien Lundin, Gold Newsletter (Jefferson Financial)

"Energy Fuels Inc. will have to wait until at least mid-November to learn about the recommendations of the U.S. Nuclear Fuel Working Group on how to boost domestic uranium production. . .the company remains an interesting speculation on the outcome of these recommendations. . .[the group] may provide an opening for Energy Fuels to restart its U.S.-based uranium operations."

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

Experts Following This Company

headshot of Eric Coffin
Eric Coffin, Owner – HRA Journal
headshot of Colin Healey
Colin Healey, Analyst – Haywood Securities
headshot of Maurice Jackson
Maurice Jackson, Founder – Proven and Probable
Mike Kozak, Analyst – Cantor Fitzgerald
headshot of Brien Lundin
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
headshot of Joe Reagor
Joe Reagor, Analyst – ROTH Capital Partners
headshot of Mark Reichman
Mark Reichman, Managing Director, Senior Analyst - MLP – Noble Capital Markets
headshot of Ron Struthers
Ron Struthers, Editor Struthers Resource Stock Report
headshot of David Talbot
David Talbot, Vice President, Senior Analyst – Eight Capital

The information provided above is from analysts, newsletters, the company and other contributors.

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