Energy Fuels (NYSE American: UUUU) (TSX: EFR), the leading
producer of uranium in the United States, today announced its entry into
consulting agreements with Constantine Karayannopoulos and Brock O’Kelley, two
rare earth element (“REE”) industry experts who each have decades of experience
producing commercially viable rare earth products. According to the update, the
collaborations will aid in the development and implementation of commercial and
technical REE strategies for the new U.S. REE program Energy Fuels is pursuing.
“Energy Fuels is extremely excited to bring Constantine Karayannopoulos and
Brock O’Kelley on board to advance our entry into the rare earth space in the
U.S.,” Mark S. Chalmers, President and CEO of Energy Fuels, said in the news
release. “Over the past year or so, Energy Fuels has been actively evaluating
this rare earth opportunity. We are quickly coming to the conclusion that the
White Mesa Mill may be an ideal U.S. facility to process rare earth element ore
streams and produce rare earth concentrates. Mr. Karayannopoulos and Mr.
O’Kelley will assist Energy Fuels in the commercial and technical aspects of
this endeavor. Mr. Karayannopoulos established Neo Material Technologies into a
unique REE materials company, which is currently one of the World’s leading
producers of REEs and a broad range of light and heavy rare earth engineered
products outside of China. Neo was acquired for Cdn$1.3 billion in 2012 by
Molycorp, the operator of the rare earth mine and processing facility in
Mountain Pass, California. Neo maintained its cash flow and profitability,
despite Molycorp’s 2015 reorganization. Mr. O’Kelley worked with Mr.
Karayannopoulos at Molycorp as Technology Fellow and Vice President of
Technology. He is currently an associate professor at the Colorado School of
Mines working with REE related projects. Energy Fuels looks forward to working
with these two industry veterans in developing our REE business in the U.S. and
in advancing our relationships in this sector. Between Mr. Karayannopoulos, Mr.
O’Kelley, and ANSTO of Sydney, Australia, we believe Energy Fuels is truly
assembling a top flight team capable of building a successful U.S. REE
business.”
To view the full press release, visit http://ibn.fm/IREKv
About Energy Fuels
Energy Fuels is a leading U.S.-based uranium mining company,
supplying U3O8 to major nuclear utilities. The company also produces vanadium
from certain of its projects, as market conditions warrant. Its corporate
offices are in Lakewood, Colorado near Denver, and all of its assets and
employees are in the United States. Energy Fuels holds three of America’s key
uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch
in-situ recovery (“ISR”) Project in Wyoming, and the Alta Mesa ISR Project in
Texas. The White Mesa Mill is the only conventional uranium mill operating in
the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per
year, and has the ability to produce vanadium when market conditions warrant.
The Nichols Ranch ISR Project is in operation and has a licensed capacity of 2
million pounds of U3O8 per year. The Alta Mesa ISR Project is currently on
standby. In addition to the above production facilities, Energy Fuels also has
one of the largest NI 43-101 compliant uranium resource portfolios in the U.S.
and several uranium and uranium/vanadium mining projects on standby and in
various stages of permitting and development. The primary trading market for
Energy Fuels’ common shares is the NYSE American under the trading symbol
“UUUU,” and the company’s common shares are also listed on the Toronto Stock
Exchange under the trading symbol “EFR.” For more information, visit the
company’s website at www.EnergyFuels.com.
NOTE TO INVESTORS: The latest news and updates
relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
About MissionIRNewsBreaks
MissionIRNewsBreaks provide
a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by
our Team of professional journalists that keep a constant eye on the markets,
these posts are designed to inform you on the latest happenings of our clients
and other publicly traded companies on our radar. From earnings, acquisitions
and agreements to conference attendance and clinical study results, our news
breaks keep you up-to-date with the day’s top movers. MissionIR is primarily
focused on strategic communications. We have executed countless communications
programs to address the needs of companies ranging from start-ups to
established industry leaders, gaining valuable experience and the expertise
necessary to determine the most effective strategy for any given situation.
Please see full terms of use and disclaimers on the Mission
Investor Relations website applicable to all content provided by MIR, wherever
published or re-published: http://www.missionir.com/disclaimer.html
