Energy Fuels (UUUU) - US Uranium Reserve Talks and REE By-Products
Matthew Gordon, Ptolemy Capital
3 Months ago
CEO, Chalmers joins us to share his thoughts about the news of the $150M US Uranium Reserve included within proposed funding measures and allocations outlined in the FY21 draft from the Senate Committee on Appropriations. Ultimately these funds are to purchase 1.7-1.9 MMlbs U3O8.
We also discuss why chose now to pay off the companies debt. And the White Mesa Mill yet again becomes a focal point as Energy Fuels announces a rather attractive by product of milling uranium from monazite ore. They are able to extract Rare Earths too. The exciting part of this conversation is the potential contribution to the bottomline and more importantly the REE team that is being assembled. In the context of conversations that the company has already had with US Dept of Energy and US Dept of Defence, the rare earth component could signify a very profitable revenue stream in the near future. We suspect long term contract on the monazite are not far away. Interesting times in Wyoming despite the lull in the uranium price!
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