**Energy Fuels Inc. Reports Financial Performance and Strategic Developments in Recent 10-K Filing**

Energy Fuels Inc. reported its financial results in a recent 10-K filing, revealing a revenue of $65.92 million for the fiscal year, compared to $78.11 million in the previous year, representing a 16% decrease. The company's operating loss significantly increased to $101.16 million from $47.52 million in the prior year. This increase in operating loss was attributed to higher operating costs and expenses, which totaled $167.08 million, a 33% increase from $125.63 million in the previous fiscal year. The net loss for the year was $86.11 million, or $0.38 per share, compared to a net loss of $47.84 million, or $0.28 per share, in the previous year.

The filing highlighted several strategic developments, including the acquisition of Base Resources, which owned the Kwale Project and the Vara Mada Project, and the creation of the Donald Project JV with Astron Corporation. These acquisitions are aimed at expanding the company's rare earth element (REE) and heavy mineral sands (HMS) initiatives. The company also completed modifications to its White Mesa Mill to produce separated neodymium-praseodymium (NdPr) and is exploring the recovery of radioisotopes for targeted alpha therapy (TAT) medical treatments. The company also entered into a Scheme Implementation Deed to acquire 100% of the issued share capital of Australian Strategic Materials Limited (ASM), a leading producer of REE metals and alloys.

Key operational developments included mining approximately 1,720,000 pounds of U3O8 from the Pinyon Plain, La Sal, and Pandora mines, and processing approximately 1,015,000 pounds of U3O8 at the White Mesa Mill. The company sold 650,000 pounds of U3O8 at an average price of $74.21 per pound, generating $48.23 million in revenue. HMS sales from the Kwale Project, which ceased mining operations in December 2024, generated $15.82 million in revenue. The company also reported progress in its REE initiatives, including the production of pilot-scale quantities of dysprosium (Dy) and plans for terbium (Tb) production.

Looking ahead, Energy Fuels anticipates producing 2.0 to 2.5 million pounds of U3O8 from its conventional uranium mines in 2026. The company also plans to continue advancing the Donald and Vara Mada Projects towards a final investment decision (FID) and to drill the Bahia Project. The company expects to complete Phase 2 of its REE expansion at the White Mesa Mill in late 2028 or early 2029, subject to licensing, financing, and receipt of sufficient feedstock. The company also plans to work towards the completion of its proposed acquisition of ASM, which is expected as early as June 2026.

About ENERGY FUELS INC

Energy Fuels Inc. is a producer of uranium, vanadium, rare earth elements (REE), and heavy mineral sands (HMS). It operates in the U.S., Brazil, Australia, Kenya, and Madagascar, focusing on responsible extraction, recycling, and development of critical minerals for clean energy, advanced technologies, and medical applications. The company leverages fully permitted projects, innovative processing, and strategic acquisitions to supply essential materials for nuclear power, electric vehicles, wind turbines, and cancer therapeutics.

This description was generated via AI from an annual report. Updated 9 months ago.

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