NetworkNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Releases Q1 2023 Financial, Corporate Report, Announces Earnings Call
Energy Fuels (NYSE American: UUUU) (TSX: EFR) is reporting on its financial results for the quarter ended March 31, 2023; the company also announced that it will host an earning conference call and webcast on May 9, 2023. According to the report, Energy Fuels sold 300,000 pounds of uranium resulting in a gross margin of 58% and 79,344 pounds of vanadium totaling a 37% gross margin of 37%; the company also sold its Alta Mesa property for a total gain of $116.45 million. The report showed that UUUU’s working capital grew with total assets increasing and total liabilities decreasing. Other highlights of the report indicated that Energy Fuels produced an estimated 250 MT of high-purity, partially separated mixed RE carbonate from monazite, containing approximately 115 MT of total rare earth oxides, the most advanced REE material currently being produced commercially in the country. In addition, the company reported selling a total of 79,344 pounds of existing V2O5 inventory and continued developing its program to evaluate the potential to recover radioisotopes from its process streams for use in emerging targeted alpha therapy cancer therapeutics.
The company announced that key executives will be hosting a conference call and webcast, scheduled to start at 4 p.m. ET on May 9, 2023; call will include a discussion of the company’s first-quarter 2023 results as well as the outlook for the remainder of the year. To access the call, dial 1-888-664-6392 and an operator will connect you. A replay of the call will be available until May 24, 2023, by calling 1-888-390-0541 or 1-416-764-8677 and entering the replay code 680506#. “Energy Fuels had an exceptional first quarter on several metrics, including earnings of $114.26 million, achieving healthy margins on our product sales, increasing our working capital position to $143.61 million, increasing our total assets and reducing our total liabilities,” said Energy Fuels president and CEO Mark Chalmers in the press release. “We also significantly enhanced our fixed asset portfolio by selling the non-core Alta Mesa uranium property for $120.00 million and closing on the purchase of the Bahia Project in Brazil, which has the potential to feed our REE separation circuits with low-cost raw materials for several decades. At the same time, we continue to perform significant work at four of our conventional uranium mines to get them ready to resume ore production. . . . We continued to build our REE business as well. We began modifications and enhancements at the White Mesa Mill expected to produce up to 1,000 MT per year of NdPr oxide by late 2023 or early 2024, subject to receipt of sufficient monazite feed.”
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Energy Fuels (NYSE American: UUUU) (TSX: EFR) is reporting on its financial results for the quarter ended March 31, 2023; the company also announced that it will host an earning conference call and webcast on May 9, 2023. According to the report, Energy Fuels sold 300,000 pounds of uranium resulting in a gross margin of 58% and 79,344 pounds of vanadium totaling a 37% gross margin of 37%; the company also sold its Alta Mesa property for a total gain of $116.45 million. The report showed that UUUU’s working capital grew with total assets increasing and total liabilities decreasing. Other highlights of the report indicated that Energy Fuels produced an estimated 250 MT of high-purity, partially separated mixed RE carbonate from monazite, containing approximately 115 MT of total rare earth oxides, the most advanced REE material currently being produced commercially in the country. In addition, the company reported selling a total of 79,344 pounds of existing V2O5 inventory and continued developing its program to evaluate the potential to recover radioisotopes from its process streams for use in emerging targeted alpha therapy cancer therapeutics.
The company announced that key executives will be hosting a conference call and webcast, scheduled to start at 4 p.m. ET on May 9, 2023; call will include a discussion of the company’s first-quarter 2023 results as well as the outlook for the remainder of the year. To access the call, dial 1-888-664-6392 and an operator will connect you. A replay of the call will be available until May 24, 2023, by calling 1-888-390-0541 or 1-416-764-8677 and entering the replay code 680506#. “Energy Fuels had an exceptional first quarter on several metrics, including earnings of $114.26 million, achieving healthy margins on our product sales, increasing our working capital position to $143.61 million, increasing our total assets and reducing our total liabilities,” said Energy Fuels president and CEO Mark Chalmers in the press release. “We also significantly enhanced our fixed asset portfolio by selling the non-core Alta Mesa uranium property for $120.00 million and closing on the purchase of the Bahia Project in Brazil, which has the potential to feed our REE separation circuits with low-cost raw materials for several decades. At the same time, we continue to perform significant work at four of our conventional uranium mines to get them ready to resume ore production. . . . We continued to build our REE business as well. We began modifications and enhancements at the White Mesa Mill expected to produce up to 1,000 MT per year of NdPr oxide by late 2023 or early 2024, subject to receipt of sufficient monazite feed.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
