Energy Fuels Says Continues To Capitalize On Strong Uranium Pricing, Rare Earth Element Ramp-Up, Commissioning Rare Earth Oxides Production, And Steps To Secure World-Scale Sources Of Heavy Mineral Sands And Monazite
Portfolio Pulse from Benzinga Newsdesk
Energy Fuels (UUUU) reports strong Q1-2024 performance, driven by robust uranium sales and gross margins. The company is capitalizing on high uranium prices, with significant sales and profits from uranium operations. It's also advancing in the rare earth elements (REE) sector, with the completion of a Phase 1 REE Separation circuit and plans for expanded production. Energy Fuels is securing sources of heavy mineral sands and monazite to support its REE production, including acquisitions and project developments in Brazil, Madagascar, and Australia. The U.S. Senate's approval of the Prohibiting Russian Uranium Imports Act is expected to benefit the company by reducing competition from Russian uranium imports.
May 03, 2024 | 8:51 pm
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Energy Fuels reports strong Q1-2024 earnings from uranium sales, advances in REE production, and strategic acquisitions to secure monazite sources. The U.S. ban on Russian uranium imports may further enhance its market position.
Energy Fuels' strong Q1-2024 performance is driven by high uranium prices and sales, contributing to significant profits. The company's expansion into the REE market, through the development of REE separation circuits and securing sources of monazite, positions it for future growth. The U.S. ban on Russian uranium imports, expected to be signed into law by President Biden, reduces competition and could lead to increased demand for domestic uranium, benefiting Energy Fuels.
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