Energy Fuels Inc.

Energy Fuels Inc. is one of the largest producers of uranium in the United States, which is highly strategic as the United States is the World’s largest consumer of uranium. The company owns low-cost in situ uranium recovery (ISR) and conventional production operations in the U.S., including the Nichols Ranch ISR Project in Wyoming; the White Mesa Mill in Utah; and the Alta Mesa ISR Project in South Texas. Combined, the Company has over 11.5 million pounds of production capacity in its portfolio. The company also owns several mines on standby and in permitting that it can put into production as uranium prices recover.

Expert Comments:

Brent Cook, Exploration Insights (7/24/16)
"Energy Fuels Inc. is seeking approval to amend the terms of its floating-rate convertible unsecured subordinated debentures with the holders at a meeting on Aug. 4, 2016. . .amending the terms of the convertible debt facility is yet another example of the company trying to pull a lever to manage its working capital. If the current depressed market conditions persist, we would expect EFR to remain solvent into 2017 to take advantage of the potential market turnaround and keep the 'call' option (based on the 11.5 Mlb of permitted annual capacity) on the uranium price alive."

David Talbot, Dundee Capital Markets (7/12/16)
"We reiterate our Buy recommendation for Energy Fuels Inc. at a target price of CA$8.35/share. . .Energy Fuels Inc. remains one of our top picks for leverage in a rising uranium-price environment. It continues to manage cash, debt, inventory, and production rates while uranium prices remain low; Energy Fuels will seek approval from debenture holders to amend terms of its CA$22M debt. . .we believe the real attractiveness lies in Energy Fuels' ongoing access to sufficient liquidity, while maintaining a healthy balance sheet."

Brien Lundin, Gold Newsletter (Jefferson Financial) (7/7/16)
"Energy Fuels Inc. has closed its deal to buy Mesteña Uranium. With the acquisition, the company has gained a foothold on in- situ recovery uranium production in south Texas. . .the addition of Alta Mesa gives Energy Fuels one more uranium project that can quickly come online should the market for uranium begin to bounce back. . .now is an excellent time to build or add to your position in Energy Fuels."

Brien Lundin, Gold Newsletter (Jefferson Financial) (6/15/16)
"Energy Fuels Inc.'s Q1/16 announcement detailed the moves the company is making to take full advantage of the next significant upsurge in uranium prices. . .on the development front, the company made progress sinking a shaft at its Canyon project in Arizona. . .on the acquisition front, Energy Fuels entered into a definitive agreement to buy Mesteña Uranium, which operates the Alta Mesa ISR project. . .Energy Fuels will soon own 100% of Roca Honda, one of the largest and highest-grade uranium deposits in the United States. . .Energy Fuels remains a strong buy at current levels."

David Talbot, Dundee Capital Markets (6/13/16)
"Energy Fuels Inc.'s Mesteña ISR mine acquisition expected to close this week. . .we reiterate our BUY recommendation and target price of CA$8.35/share. . .if the Mesteña Urnaium deal can be closed, and 4.5M new shares can be issued by June 16, 2016, EFR can be considered for inclusion/retention on the Russell 3000 index under an exception to their rules for pending M&A. . .by including the Mesteña shares, EFR's management suggests that its market cap would be about $143M, and that it would likely be retained on the index."

Eric Coffin, Hard Rock Analyst (6/5/16)
"Energy Fuels Inc. completed its acquisition of Sumitomo's Roca Honda project interest, bringing the 14.6M pounds of Measured and Indicated and 11.2M pounds of Inferred resources completely in house. . .several US states are petitioning the US Atomic Energy Commission to halt sales from its inventory which are adding 3-4M pounds on the supply side and helping keep uranium prices depressed. . .if you want uranium exposure I think EFR represents the best leverage for the dollar."

More Expert Comments

Experts Following This Company

Rob Chang, Senior Analyst and Head of Metals & Mining – Cantor Fitzgerald
Eric Coffin, Owner – HRA Advisory
Brent Cook, Analyst, Geologist Exploration Insights
Colin Healey, Analyst – Haywood Securities
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Rick Mills Ahead of the Herd
Joe Reagor, Analyst – ROTH Capital Partners
David Talbot, Vice President, Senior Analyst – Dundee Capital Markets

The information provided above is from analysts, newsletters, the company and other contributors.

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