Energy Fuels Inc. (TSX:EFR) – White Mesa Hits Milestone with U3O8, V2O5 and REE Sales
Energy Fuels has achieved a very important milestone at its 100%-owned White Mesa mill in Utah, as it has made three separate commercial shipments last week including: 1) uranium concentrates, 2) vanadium pentoxide and 3) high-purity mixed rare earth element (REE) carbonate. We view the uranium and vanadium sales from its inventory as both opportunistic and unexpected; with V2O5 sales representing new revenue that wasn’t included in current guidance. The REE carbonate production seems to be going well with partial separation now underway. As prices have accelerated in each of the three segments, we believe Energy Fuels is setting the stage to become the largest producer of uranium, vanadium and REEs in the United States.