NetworkNewsBreaks - Energy Fuels Inc.'s (NYSE American: UUUU) (TSX: EFR) Balance Sheet "Unsurpassed in the Global Mid and Junior Uranium Mining Sectors"
Energy Fuels (NYSE American: UUUU) (TSX: EFR), the largest uranium mining company in the United States, today announced the recent elimination of a portion of the company's debt, confirmation of 2020 uranium production guidance, as well as updates on the value of the company's significant uranium and vanadium inventories. "The strength of Energy Fuels' balance sheet is unsurpassed in the global mid and junior uranium mining sectors today, including decreasing debt loads and increasing values on our product inventories," Mark S. Chalmers, president and CEO of Energy Fuels, stated in the news release. "Indeed, no other comparable uranium miner to my knowledge has Energy Fuels' inventory levels, and many are incurring significant debt to advance their development and exploration projects. As I have previously asserted, debt can be extremely burdensome for mid and junior uranium producers, developers and explorers and potentially very destructive to shareholder value if markets do not improve as expected. This is why Energy Fuels has focused on a strategy of debt reduction over the past several years, and we are proud to say that we expect to be debt-free by the end of 2020.”
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