Energy Fuels - Energy Fuels Restocks its Balance Sheet and Inventories

UUUU reports financial results. As expected, Energy Fuels completed another year of limited production and sales due to depressed uranium prices. On a positive note, losses decreased due to cost reductions and there are signs that uranium prices may be improving. The operating loss for the year was $24.6 million vs. $40.6 million and $34.0 million expected, and EPS was $(0.23) vs. $(0.40) and $(0.28) expected. Call on Tuesday at 4:00 pm ET (888-664-6392). The company shored up its balance sheet and appears ready to expand. Management took advantage of share price strength to raise $30.4 million on its ATM program pushing working capital to $40.2 million ($22.4 million cash/mkt sec). The company has no debt. Both numbers are up sharply from last year and leave Energy Fuels in a good position to weather another year of operating losses if uranium prices do not improve. Management is prepared to forego sales at current prices and build up its inventory. The company has no remaining uranium contracts and all inventory and future production is unhedged. Uranium producers and purchasers seem to be at a standstill with producers unwilling to sell at prices below $40/lb and purchasers unwilling to sign contracts at prices above the current spot price of $27/lb. Nuclear plants have been meeting supply through international purchases (cheap sources are running out), depleting inventory, uranium underfeeding and weapons degrading — all short-term strategies. Meanwhile, UUUU is planning on expanding inventories in anticipation of a price rise possibly enhanced by the creation of a national uranium reserve ($75 million approved in the last budget for reserve). Keep an eye on Vanadium and Rare Earth Element (REE) developments. The company has accelerated the mining of Vanadium, which is seeing prices rise, and the production of REE. Mark Chalmers (P & CEO) referred to REE at the best resource opportunity in his 45-year mining career. At this point, we view Vanadium and REE as wild cards that are not significant contributors to results, but could become significant in the future. We continue to rate the shares of UUUU as Market Perform with the stock trading near our fair value estimate, which does not include value for Vanadium or REE.Read More >>

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Denison Announces Signing of Sustainable Communities Investment Agreement

Denison Mines logo (CNW Group/Denison Mines Corp.)

Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) is proud to announce the signing of a Sustainable Communities Investment Agreement (the "Agreement") with the municipalities of the Northern Village of Beauval the Northern Village of Île-à-la Crosse, the Northern Hamlet of Jans Bay and the Northern Hamlet of Cole Bay (the "Communities"). View PDF version

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Text saying "Uranium Night" superimposed over band playing music.

Uranium Night at PDAC Raises $10,000 for Charity

At this year’s Uranium Night at the Prospectors & Developers Association of Canada (PDAC) convention, the event's sponsors secured a $10,000 donation for the charity Haven Family Connections.

With the uranium sector having its hottest season in years, there was much to celebrate at the event, which was held on March 4 at the Lucky Clover Irish Pub in Toronto. Early in the year, the uranium spot price broke through the US$100 per pound level for the first time since 2007, rising to a 16 year high of US$106 as demand continued to outpace supply.

Although the price has since pulled back to the US$90 level, industry experts still predict a bright future for the energy commodity as countries around the world pursue nuclear power as a strategy for meeting clean energy goals.

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Laramide Outlines 2024 Australian Exploration Plans

Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce 2024 work plans for Australia which include a large drill campaign of up to 12,000m across multiple targets at the Westmoreland Uranium Project in NW Queensland and into the Murphy Uranium Project in the Northern Territory. Two drill rigs have been secured and logistical plans are well advanced for a campaign that will build on last year's successful exploration effort which saw 40 holes completed across 4,000 cumulative meters. Drilling is expected to commence in approximately 6-8 weeks' time at the conclusion of the current wet season.

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C29 Metals

C29 Acquires Transformative High-Grade Uranium Project

C29 Metals Limited (ASX:C29) (C29, or the Company) is pleased to announce it has entered into a binding share sale and purchase agreement (Acquisition Agreement) with CA Metals Pty Ltd (CA Metals) and Ulytau Resources Ltd (Ulytau Resources) to acquire a 100% legal and beneficial interest in a granted exploration licence located in Kazakhstan (Ulytau Uranium Project).

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Curtis Moore, nuclear reactors.

Energy Fuels: Uranium's Moment Has Arrived, Now it's Time to Capitalize

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Curtis Moore of Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) weighed in on uranium market dynamics, from supply and demand to prices.

He also discussed how Energy Fuels is navigating the sector given today's much-improved dynamics.

"These are great (price) levels for us as a uranium producer. We can profitably produce uranium at these levels," he said. "And so again, this is something we've been waiting for for a long time now. It's time to capitalize."

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