NetworkNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Completes Strategic Sale of Alta Mesa Project
Energy Fuels (NYSE American: UUUU) (TSX: EFR) today announced its completion of the sale of three wholly owned subsidiaries that together hold its Alta Mesa ISR Project to enCore Energy Corp. “Energy Fuels’ sale of the Alta Mesa project for $120 million of total consideration is highly strategic for a variety of reasons,” said UUUU CEO and President Mark S. Chalmers. “When combined with our already strong balance sheet, the proceeds from this sale are expected to fully fund our current uranium, vanadium and rare earth business plans through approximately 2024 without the dilution to shareholders one might normally expect, nor depletion of working capital. On the uranium front, this sale provides Energy Fuels with the ability to make the focused investments in infrastructure and human capital required to resume production at our lowest-cost and nearest-term uranium mines and facilities. We believe Energy Fuels will be among the quickest to market with significant new U.S. uranium production and retain our position as the leading U.S. uranium producer for many years to come.”
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Energy Fuels (NYSE American: UUUU) (TSX: EFR) today announced its completion of the sale of three wholly owned subsidiaries that together hold its Alta Mesa ISR Project to enCore Energy Corp. “Energy Fuels’ sale of the Alta Mesa project for $120 million of total consideration is highly strategic for a variety of reasons,” said UUUU CEO and President Mark S. Chalmers. “When combined with our already strong balance sheet, the proceeds from this sale are expected to fully fund our current uranium, vanadium and rare earth business plans through approximately 2024 without the dilution to shareholders one might normally expect, nor depletion of working capital. On the uranium front, this sale provides Energy Fuels with the ability to make the focused investments in infrastructure and human capital required to resume production at our lowest-cost and nearest-term uranium mines and facilities. We believe Energy Fuels will be among the quickest to market with significant new U.S. uranium production and retain our position as the leading U.S. uranium producer for many years to come.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
