LAKEWOOD, Colo., June 7, 2021 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), the number one U.S. producer of uranium and an emerging U.S. producer of rare earth elements, is pleased to announce that it will be a Hall of Fame Presenter at the upcoming LD Micro Invitational XI virtual event on Tuesday, June 8 at 11:00 AM ET.
Mark S. Chalmers, President and CEO of Energy Fuels, will discuss the Company's growing, monazite-based rare earth element ("REE") business under which Energy Fuels recently began ramping up U.S. production of an intermediate REE product, called a mixed REE carbonate, at its White Mesa Mill in Utah. Upon successful ramp-up, this will be a product ready for separation into individual REE oxides. The Company expects to sell this product to a processing facility owned by Neo Performance Materials in Europe. At that point, Energy Fuels and Neo will have integrated a U.S.-Europe rare earth supply chain decoupled from China. The Company is also advancing toward building its own REE separation capabilities at the mill in the coming years, in addition to potentially metal-making and alloying, thereby fully integrating a U.S.-centric rare earth supply chain available to supply growing clean energy markets, including electric vehicles (EVs) and renewable energy systems.
Chris Lahiji, Founder of LD Micro stated: "The Hall of Fame not only highlights companies that have achieved a high rate of return but have also been beneficial to society. I think the world of Energy Fuels and its management, and I'm very proud of what they have achieved. We are looking forward to hosting them at the invitational."
Event: Energy Fuels' Hall of Fame Presentation at the LD Micro Invitational XI
Date: Tuesday, June 8, 2021
Time: 1:00 pm ET (11:00 am MT)
Please register to watch the presentation here.
Summary of LD Micro Invitational XI Event
The 2021 LD Micro Invitational will be held on the Sequire Virtual Events platform on Tuesday, June 8th - Thursday, June 10th, 2021. The festivities run from 7:00 AM PT - 3:00 PM PT / 10:00 AM ET - 6:00 PM ET each day.
This three-day, virtual investor conference is expected to feature around 180 companies, presenting for 25 minutes each, as well as several influential keynotes. The first day of this conference will also feature an exceptional one-time event: the LD Micro Hall of Fame.
About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and is in the process of ramping-up to expected commercial production of REE carbonate in 2021. Its corporate offices are in Lakewood, Colorado near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery ("ISR") Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant, as well as REE carbonate and uranium from Monazite. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.
Cautionary Note Regarding Forward-Looking Statements: This news release contains "forward-looking information" within the meaning of applicable securities laws in the United States and Canada. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels' objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: Energy Fuels ability to maintain its current position as the leading U.S. producer of uranium; the ability of the White Mesa Mill to produce a mixed REE carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of Neo to separate REE carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of the Company to license, permit, and construct the infrastructure required to produce separated rare earth oxides and rare earth metals and alloys; and market factors including future demand and prices for rare earths, and the ability of the company to supply EV and renewable energy markets. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: Energy Fuels ability to maintain its current position as the leading U.S. producer of uranium; the ability of the White Mesa Mill to produce a mixed REE carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of Neo to separate REE carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of the Company to license, permit, and construct the infrastructure required to produce separated rare earth oxides and rare earth metals and alloys; and market factors including future demand and prices for rare earths, and the ability of the company to supply EV and renewable energy markets. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required by law.
SOURCE Energy Fuels Inc.