Energy Fuels (NYSE American: UUUU) (TSX: EFR), the largest uranium mining company in the United States, today announced the recent elimination of a portion of the company’s debt, confirmation of 2020 uranium production guidance, as well as updates on the value of the company’s significant uranium and vanadium inventories. “The strength of Energy Fuels’ balance sheet is unsurpassed in the global mid and junior uranium mining sectors today, including decreasing debt loads and increasing values on our product inventories,” Mark S. Chalmers, president and CEO of Energy Fuels, stated in the news release. “Indeed, no other comparable uranium miner to my knowledge has Energy Fuels’ inventory levels, and many are incurring significant debt to advance their development and exploration projects. As I have previously asserted, debt can be extremely burdensome for mid and junior uranium producers, developers and explorers and potentially very destructive to shareholder value if markets do not improve as expected. This is why Energy Fuels has focused on a strategy of debt reduction over the past several years, and we are proud to say that we expect to be debt-free by the end of 2020.”
To view the full press release, visit http://ibn.fm/JEXUq
About Energy Fuels
Energy Fuels is the 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 near Denver, Colorado, 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, 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 the ability to produce vanadium when market conditions warrant. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8 per year. In addition to the above production facilities, Energy Fuels 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
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