Energy Fuels Inc (NYSE:UUUU) Q1 2024 Earnings Conference Call May 6, 2024 9:00 AM ET Company Participants Mark Chalmers - President and Chief Executive Officer Curtis Moore - Senior Vice President of Marketing and Corporate Development Nathan Bennett - Chief Accounting Officer Interim Chief Financial Officer Conference Call Participants Matthew Key - B. Riley Joseph Reagor - ROTH MKM Mike Heim - Noble Financial Markets Graham Tanaka - Tanaka Capital Management Operator Good morning. My name is Julie and I w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission file number: 001-36204 ENERGY FUELS INC. (Exact name of registrant as specified in its charter) Ontario, Canada 98- ...

Financial Data and Key Metrics - The company reported a net income of nearly $100 million and $222 million in working capital at year-end, including cash, marketable securities, and significant uranium and vanadium inventories [43][6] - The company sold 560,000 pounds of uranium in 2023, generating a gross profit of $18 million, with a 54% gross margin [47][74] - The company has over $1 billion in assets and $250 million in liquidity, including inventories valued at current market prices [43][7] - In Q1 2024, the company sold 300,000 pounds of uranium at an average price of $84 per pound, with 200,000 pounds sold under contract at $75 per pound and 100,000 pounds sold at spot prices averaging $102.88 per pound [51][76] Business Line Data and Key Metrics - The company is restarting mining at three uranium mines and preparing two additional mines for future restarts, with over 10 million pounds of licensed production capacity [3][5] - The company is advancing its rare earth separation capabilities, with Phase 1 commissioning expected in April 2024, capable of producing up to 1,000 tonnes per year of NdPr oxide [12][71] - The company has 700,000 pounds of finished uranium, 900,000 pounds of finished vanadium, and 11 tonnes of separated rare earth carbonate in inventory [48] - The company is projecting between 150,000 to 500,000 pounds of finished uranium production in 2024, depending on the commissioning of the Phase 1 separation plant [9][83] Market Data and Key Metrics - The company has secured a potential sale of 100,000 pounds of uranium under contract and is evaluating spot sales opportunities for the remainder of 2024 [11][57] - The company is advancing permits for several large uranium mines, including Roca Honda, Sheep Mountain, and Bullfrog, which have the potential to produce an additional 4 million pounds of uranium annually [10] - The company is exploring opportunities in the vanadium market, with 900,000 pounds of finished V2O5 ready for sale when prices exceed $10 per pound [15] Company Strategy and Industry Competition - The company aims to become a world-significant uranium and critical mineral producer, leveraging its unique assets and expertise [2][39] - The company is diversifying into rare earths, vanadium, and medical isotopes, centered around its uranium production capabilities [39][46] - The company is focused on low-cost production and securing long-term sources of rare earth feed, such as the Bahia project in Brazil and the Donald project in Australia [53][79] - The company is advancing its Phase 2 and Phase 3 separation capabilities, which will significantly increase its rare earth production capacity [78] Management Commentary on Operating Environment and Future Outlook - Management highlighted the company's strong financial position, with no debt and significant liquidity, enabling aggressive but responsible growth [2][7] - Management expressed confidence in the company's ability to capitalize on high uranium prices and expand production, while also advancing rare earth and vanadium opportunities [14][96] - Management emphasized the company's commitment to community outreach and environmental sustainability, including recycling programs and contributions to local initiatives [17][82] Other Important Information - The company is completing engineering on a pilot facility for medical isotope production, focusing on Radium-226 and Radium-228 [55] - The company has secured a non-binding MOU for a significant rare earth deposit in Australia, which could supply 7,000 to 14,000 tonnes of monazite annually [79] - The company is under budget on its Phase 1 separation plant, with costs expected to be between $16 million and $18 million, $7 million to $9 million below initial estimates [12][87] Q&A Session Summary Question: Rare Earth Production Post-Q2 2024 - The company plans to commission the Phase 1 separation plant in April 2024 and then switch back to uranium production, focusing on maximizing uranium throughput [33][60] Question: Phase 1 Separation Plant Costs - The company has spent $8.2 million on Phase 1 as of year-end 2023, with the remaining $7.8 million to $9.8 million to be spent in 2024 [106] Question: Uranium Production Guidance Assumptions - The company's uranium production guidance for 2024 (150,000 to 500,000 pounds) depends on the timing of commissioning the Phase 1 separation plant and the availability of alternate feed sources [26][94] Question: Spot Market Sales Strategy - The company plans to opportunistically sell uranium on the spot market, balancing contracted deliveries with the goal of maximizing revenue from higher uranium prices [27][110] Question: Bottlenecks to Faster Uranium Production Expansion - The company identified capital investment and additional permits as key bottlenecks to expanding uranium production beyond 2 million pounds per year [23][103] Question: Phase 2 Separation Plant Timeline - The company is completing engineering for Phase 2 and will submit it to regulatory bodies once ready, with no specific timeline provided [86][101]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission file number: 001-36204 ENERGY FUELS INC. (Exact Name of Registrant as Specified in Its Charter) Ontario, Canada 98-10679 ...

akinbostanci/E+ via Getty Images Energy Fuels (NYSE:UUUU) is the largest US-based uranium miner and a producer of advanced rare earth (REE) materials and vanadium. It should be noted that the vast majority of the primary uranium supply is located in Kazakhstan and Canada, making the United States relatively insignificant on the uranium scene. Indeed, Energy Fuels is a relatively small producer on the global scale. The company owns several uranium deposits in the United States, including both conventional an ...

Energy Fuels Inc. (NYSE:UUUU) Q3 2023 Results Conference Call November 6, 2023 4:00 PM ET Company Participants Mark Chalmers - President and CEO Tom Brock - CFO Curtis Moore - SVP, Marketing and Corporate Development Conference Call Participants Heiko Ihle - H.C. Wainwright Joseph Reagor - ROTH MKM Justin Chan - SCP Resource Finance Mike Heim - Noble Financial Markets Operator Good afternoon. My name is John, and I will be your conference operator today. At this time, I would like to welcome everyone to the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission file number: 001-36204 ENERGY FUELS INC. (State or other jurisdiction of incorporation or organization) (I.R.S. ...

Energy Fuels Inc. (NYSE:UUUU) Q2 2023 Earnings Conference Call August 7, 2023 4:00 PM ET Company Participants Mark Chalmers - President and Chief Executive Officer Tom Brock - Chief Financial Officer David Frydenlund - Executive Vice President and Chief Legal Officer Conference Call Participants Heiko Ihle - H.C. Wainwright Mike Heim - Noble Capital Markets Joseph Reagor - ROTH MKM Operator Good afternoon, and welcome, to the Energy Fuels’ Second Quarter 2023 Conference Call. All lines have been placed on m ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission file number: 001-36204 ENERGY FUELS INC. (Exact name of registrant as specified in its charter) Ontario, Canada 98-1 ...

Energy Fuels Inc. (NYSE:UUUU) Q1 2023 Results Conference Call May 9, 2023 4:00 PM ET Company Participants Mark Chalmers - President and Chief Executive Officer Tom Brock - Chief Financial Officer Curtis Moore - Senior VP of Corporate Development Marketing Conference Call Participants Heiko Ihle - H.C. Wainwright Joseph Reagor - Roth MKM Operator Good morning. My name is Brain, and I will be your conference operator today. At this time, I would like to welcome everyone to the Energy Fuels’ First Quarter 2023 ...