Energy Fuels Inc. Names Ames Brown to Its Board of Directors
Sep 30 15
Energy Fuels Inc. announce that the Company has increased the size of its Board of Directors from eight to nine through the addition of Mr. Ames Brown to its Board of Directors. Mr. Brown has been the Chief Investment Officer at Capital Counsel Management LLC since 2014 and previously worked in financial management with Wells Fargo. As CIO of Capital Counsel Management, Mr. Brown holds ultimate responsibility for a large portfolio of global investments in oil, gas, mining, and financial services. In his role with Wells Fargo, Mr. Brown managed similarly constituted portfolios of global investments.
Energy Fuels Inc. Announces Augmentation of Uranium Production Capabilities at Nichols Ranch
Sep 29 15
Energy Fuels Inc. provided the operational and corporate updates. Augmentation of Nichols Ranch Production Capabilities: The company announced that it has commenced construction of the elution circuit at its Nichols Ranch (Nichols Ranch) in situ recovery (ISR) processing facility located in Wyoming's Powder River Basin. Since Nichols Ranch began operations in April 2014, loaded resins have been shipped to other nearby third party-owned facilities for final yellowcake stripping, drying and packaging. Upon completion of construction of the elution circuit at Nichols Ranch, the Company will have entirely self-contained ISR processing capabilities. When the Nichols Ranch Plant was originally designed and constructed, it was contemplated that elution equipment would be installed in the future. As a result, space in the plant was designed to accommodate the facilities and equipment now being installed. The company expects to spend approximately $3.9 million to complete these plant upgrades. In comparison to continuing to process through other outside facilities, and based on expected production at Nichols Ranch, the Company expects this capital investment to realize a positive return.
Energy Fuels Inc. Reports Unaudited Consolidated Financial and Operational Results for the Second Quarter and Financial Results for the Six Months Ended June 30, 2015; Provides Production Guidance for the Full Years of Fiscal 2015 and 2016
Aug 7 15
Energy Fuels Inc. reported unaudited consolidated financial and operational results for the second quarter and financial results for the six months ended June 30, 2015. For the quarter, the company reported revenues were $23,705,000 against $13,525,000 a year ago. Net loss before taxes was $2,313,000 against $30,327,000 a year ago. Net loss for the period was $2,313,000 or $0.10 basic and diluted loss per share against $30,328,000 or $1.54 basic and diluted loss per share a year ago.
For the six-month period, the company reported revenues were $31,305,000 against $24,886,000 a year ago. Net loss before taxes was $4,674,000 against $36,662,000 a year ago. Net loss for the period was $4,674,000 or $0.22 basic and diluted loss per share against $36,670,000 or $1.87 basic and diluted loss per share a year ago. Net cash provided by operating activities was $5,517,000 against net cash used in operating activities was $621,000 a year ago. Development expenditures on property, plant and equipment was $1,028,000 against $970,000 a year ago. Expenditures on exploration, evaluation and development was $1,133,000 against $689,000 a year ago.
For the quarter, the company reported 416,667 pounds of U3O8 sales were completed by the Company at an average realized price of $56.74 per pound, pursuant to existing term contracts.
The company forecasts the second half of full year 2015 sales to total approximately 391,667 pounds of U3O8, which will be sold into existing long-term contracts. Energy Fuels expects to receive an average realized price of $57.05 per pound of U3O8 sold during the second half of FY-2015 across all of its contracts.
For fiscal year-2016 and FY-2017, the Company forecasts sales under existing long-term contracts to total approximately 650,000 pounds and 620,000 pounds of U3O8, respectively, which include deliveries of 200,000 lbs. of U3O8 in each of FY-2016 and FY-2017 under contracts acquired through the acquisition of Uranerz.