Movers and SHAKERS
Energy Fuels (UUUU)(EFR:CA)
Broadening Its Portfolio to Include Rare Earth Minerals
As of April 24, 2020, Noble Capital Markets research on Energy Fuels is published under ticker symbols (UUUU and EFR:CA). The price target is in USD and based on ticker symbol UUUU. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Energy Fuels is the largest uranium producer in the U.S. and holds more production capacity and uranium resources than any other U.S. producer. The Company also produces vanadium. Headquartered in Colorado, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Facility in Wyoming, and the Alta Mesa ISR Facility in Texas. The producing White Mesa Mill is the only conventional uranium mill in the U.S. and has a licensed capacity of 8 million pounds of U3O8 per year. Nichols Ranch is in production and has a licensed capacity of 2 million pounds of U3O8 per year. Alta Mesa is currently on standby. Energy Fuels also owns several licensed and developed uranium and vanadium mines on standby and other projects in development
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Advancing rare earths strategy. Energy Fuels contemplates minor modifications to its operations to enable the processing of uranium and rare earth ores at its White Mesa mill. Ores would be sourced from third parties, either through ore purchase, tolling, or other arrangements, and Energy Fuels would seek to produce concentrates, while also recycling and recovering uranium from the ores. The concentrates could be sold to third party rare earth element (REE) oxide separation and recovery facilities and/or refined, separated, and recovered at White Mesa. Additional investment could be required to enhance White Mesa’s readiness and capability in this respect.
Energy Fuels’ rare earth strategy is timely. We note that rare earth minerals producer MP Materials recently announced an agreement to merge with a special purpose acquisition corporation (SPAC). Along with a New York Stock Exchange listing, the new company to be named MP Materials, is expected to have ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.