NetworkNewsBreaks – Energy Fuels Inc. (NYSE Amer
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Energy Fuels (NYSE American: UUUU) (TSX: EFR), the leading uranium producer in the United States, has filed its Q2 2022 financial results for the period ended June 30, 2022; the company also scheduled a webcast to discuss those results. The webcast is slated for Aug. 9, 2022, at 4 p.m. EDT. Highlights of the report show that Energy Fuels has a robust balance sheet with $134.1 million of working capital; total includes $86.4 million in cash and cash equivalents, $11.8 million marketable securities and $28.6 million of inventory with no debt; the report noted that at current commodity prices, the company’s product inventory has a value of $43.9 million. The report also stated that UUUU incurred a net loss of $18.1 million, including a noncash, mark-to-market decrease in the value of investments.
Corporate highlights included that Energy Fuels entered into three long-term uranium sales contracts with U.S. nuclear utilities, with base quantities under these contracts totaling 3 million pounds with deliveries to occur during the next seven year; the company noted that if the buyers exercise all options, delivery quantities could increase to as much as 4.2 million pounds. In addition, in May 2022, Energy Fuels entered into agreements to acquire a 58-square-mile rare earth land position in Brazil known as the Bahia Project. Those interested in participating the results event, which will discuss UUUU’s Q2 2022 financial results as well as the company outlook for 2022, including uranium, rare earths, vanadium and medical isotopes can 1-888-664-6392, toll free in the United States and Canada. In addition, a recorded version of the webcast and call will be available on the company’s website or by calling 1-888-390-0541 and entering 536175. “Energy Fuels continues to make progress on all fronts of our uranium, rare earth, vanadium and medical isotope businesses,” said Energy Fuels president and CEO Mark Chalmers in the press release. “Uranium markets have been volatile but remain strong. We continue to believe the short- and long-term fundamentals for uranium continue to point to higher pricing.”
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