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Uranium-Vanadium Producer Releases Results from 'Seminal Year,' 2018

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Source: Streetwise Reports   03/13/2019

One of the company’s major new initiatives related to vanadium, thanks to stronger prices.

Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.American) reported in a news release its full year 2018 financial and operational results.

During the year ended Dec. 31, 2018, this uranium-vanadium company generated $31.7 million of revenue, yielding a gross profit of 39%, or $12.4 million, from its mining and milling activities. The company experienced a net loss for the year of $25.4 million.

As for recoveries of uranium (U3O8), the year’s total was 917,000 pounds (917 Klb), 424 Klb of which were for third parties.

In terms of U3O8 sales, the company sold 650 Klb at an average realized price of $47.37 per pound ($47.37/lb). Four hundred Klb of those were sold per existing contracts at an average price of $61.30/lb. The remaining 250 Klb were sold into contracts based on spot market prices, at a weighted average price of $25.07/lb.

As of year-end 2018, Energy Fuels had $52 million of working capital, including cash and cash equivalents. It had $41.7 million in marketable securities and about 430 Klb of uranium concentrate inventory.

Of note during 2018, Energy Fuels participated in petitioning the U.S. federal government to conduct a Section 232 investigation into the effects of uranium imports on domestic national security. Consequently, the U.S. Department of Commerce initiated such an inquiry, the results of which are pending.

Further, in 2018, Energy Fuels began recovering vanadium from the pond solutions at its White Mesa Mill. It did not release the first batches of finished vanadium product from those efforts, though, until early in following year, January 2019.

“2018 was a seminal year for Energy Fuels, as we believe we were able to successfully distinguish ourselves from other uranium mining companies in the U.S. and around the world,” President and CEO Mark Chalmers said in the release. “We expect to continue to make big things happen in 2019.”

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: Energy Fuels. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

( Companies Mentioned: EFR:TSX; UUUU:NYSE.American, )


Source: https://www.streetwisereports.com/article/2019/03/13/uranium-vanadium-producer-releases-results-from-seminal-year-2018.html


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