Energy Fuels Comments on Recent Share Price Performance and Confirms No Material Change

Energy Fuels Inc. (TSX:EFR,NYSEMKT:UUUU) today commented on its recent share price performance.  The Company is not aware of any undisclosed material change in the Company’s affairs that might have caused the recent decline in the Company’s share price.
As quoted in the press release:

The last public information released by the Company occurred on November 5, 2015, when the Company released its financial results for the three months ended September 30, 2015.  Highlights included:

• $19.16 million of revenues;
• Gross profits of $7.23 million, representing a gross profit margin of 38%; and
• Working capital balance of $43.08 million.

The Company is continuing to expand uranium production at our Nichols Ranch in situ recovery (“ISR”) project inWyoming, which is demonstrating attractive economics and provides the Company with significant production flexibility.  In addition, the Company has resumed development activities at the high-grade Canyon mine in Arizona, which has 1.6 million pounds of uranium with an average grade of 0.98% U₃O₈ contained in 83,000 tons of Inferred Mineral Resources.  Shaft sinking is proceeding, and the Company is looking forward to proceeding with underground drilling later in FY-2016 to further define and potentially expand the resource.  The Company is continuing with the current mineral processing campaign at its White Mesa Mill, including the processing of alternate feed materials and Pinenut ore, which is expected to result in 600,000 pounds of U₃O₈ production through the end of FY-2016.
The Company also announced that it expects to sell 200,000 pounds of uranium in Q4-2015 at an average price of$54.59 per pound, which represents a 34% premium to the current spot price.  In addition, the Company expects to sell 550,000 pounds of uranium in FY-2016 under its existing long-term contracts, also at a significant premium to today’s spot price.

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