ENERGY FUELS WKN: A1W757 ISIN: CA2926717083 Kürzel: EFR Forum: Aktien Thema: Hauptdiskussion

As I have stated previously, shareholders should wait until 2025 to see sequentially increasing uranium production, sales, and profits. The three mines that were restarted in 2024, namely Pinyon Plain, La Sal, and Pandora, are still being ramped up and won't reach the mining capacity of 1.1-1.4 Mlb per year until late 2024. Uranium project pipeline Energy Fuels is preparing its fully licensed and developed Nichols Ranch in situ recovery (or ISR) project in Wyoming and Whirlwind mine in Colorado for production restart, expecting to increase its corporate production run-rate to 2 Mlb per year by 2026. In the longer term, the company is advancing permitting and pre-development at the Roca Honda (New Mexico), Bullfrog (Utah) and Sheep Mountain (Wyoming) projects, which collectively contain nearly 70 Mlb of uranium resources, with the objective of expanding its uranium production to a run-rate of up to 5 Mlb per year. The White Mesa mill has a licensed capacity of over 8 Mlb of U3O8 per year and is still underutilized, even when Energy Fuels has put all of its mines on stream. Energy Fuels owns the only operable uranium mill in the U.S.—the White Mesa Mill in Utah. This mill is likely protected, at least in the medium term, by significant barriers to entry, as permitting and constructing a new uranium mill in the U.S. is incredibly difficult, if not impossible. White Mesa is the only mill in North America that can extract rare earths from monazite feed. It is worth noting that the Phase 1 REE separation circuit has not diminished and will not diminish the company's uranium production capacity in any way. Once the REE initiative is fully implemented, Energy Fuels is poised to produce 4,000–6,000 tpa of separated NdPr and 200–300 tpa of separated Dy and Tb, which are equivalent to 4 to 6 million electric vehicles. The global titanium dioxide market is valued at US$19 billion to US$22 billion and grows at over 5% per year, with current consumption at approximately 10 million tons per year. Energy Fuels is expected to emerge as a global leader in titanium dioxide and zirconia, producing around 510 Kt of titanium dioxide (roughly 5% of global supply) and 66 Kt of zirconia per year.