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 ...

Financial Performance - Total revenues for the three months ended March 31, 2023, were $19,613,000, a significant increase from $2,937,000 in the same period of 2022[27]. - The company reported a net income of $114,264,000 for Q1 2023, compared to a net loss of $14,730,000 in Q1 2022, marking a substantial turnaround[27]. - Basic and dilutive net income per common share was $0.72 for Q1 2023, compared to a loss of $0.09 per share in the prior year[27]. - The total operating loss for the first quarter was $405,000, a significant improvement from a loss of $10,213,000 in the same quarter of the previous year[27]. - For the three months ended March 31, 2023, Energy Fuels reported a net income of $114.264 million, a significant increase compared to a net loss of $14.730 million in the same period of 2022[30]. - Total other income for the three months ended March 31, 2023, was $114.67 million, significantly improving from a loss of $4.52 million in the same period of 2022[78]. - The Company reported a net income of $114.26 million for Q1 2023, a significant increase from a net loss of $14.73 million in Q1 2022, primarily due to a gain of $116.45 million from the sale of the Alta Mesa ISR Project[169]. Revenue Sources - Uranium concentrates revenue was $18,470,000, while vanadium concentrates revenue decreased to $871,000 from $2,412,000 year-over-year[27]. - Revenues from uranium concentrates for Q1 2023 were $18.47 million, with a realized sales price of $61.57 per pound, compared to no revenues in Q1 2022[171]. - The Company sold 79,344 pounds of vanadium in Q1 2023 at a weighted average price of $10.98 per pound, with total revenues from vanadium concentrates decreasing by 64% year-over-year[160][172]. Assets and Liabilities - Total assets increased to $375,451,000 as of March 31, 2023, up from $273,947,000 at the end of 2022[28]. - Shareholders' equity rose to $355,032,000 as of March 31, 2023, compared to $240,427,000 at the end of 2022[28]. - The company’s cash and cash equivalents decreased to $43,831,000 from $62,820,000 at the end of 2022[28]. - As of March 31, 2023, the company's asset retirement obligations were $9.86 million, a slight increase from $9.60 million at the end of 2022[55]. - As of March 31, 2023, total receivables increased to $3.60 million from $2.06 million as of December 31, 2022, with current receivables rising to $2.10 million[78]. - As of March 31, 2023, the maximum exposure to credit risk was the carrying value of cash and cash equivalents, trade and note receivables, convertible notes, and marketable debt securities[204]. Cash Flow - The company experienced a net cash used in operating activities of $2.579 million, an improvement from $10.548 million in the prior year[30]. - Net cash used in operating activities decreased by $7.97 million to $2.58 million for Q1 2023 from $10.55 million in Q1 2022[192]. - Net cash used in investing activities increased by $18.60 million to $19.00 million for Q1 2023 from $0.40 million in Q1 2022[193]. Investments and Acquisitions - Energy Fuels made significant investments in mineral properties, totaling $21.624 million during the quarter[30]. - The Bahia Project acquisition involved 17 mineral concessions totaling approximately 37,300 acres for a total purchase price of $27.50 million, with $21.60 million due at closing[49][50]. - The Company has acquired 17 mineral sand concessions in Bahia, Brazil, totaling approximately 37,300 acres, to support its REE supply chain[108]. Production and Operations - The Company produced approximately 8.0 million pounds of U3O8 per year at its Mill, which is licensed to process an average of 2,000 tons of ore per day[112]. - The Mill is expected to produce up to 1,000 tonnes of separated NdPr oxide per year following modifications to its SX facilities[134]. - The Company produced approximately 250 tonnes of high-purity, partially separated mixed RE Carbonate, containing about 115 tonnes of TREO during the three months ended March 31, 2023[149]. - The Company expects to process approximately 600 tonnes of monazite and recover approximately 150 to 170 tonnes of TREO in the first half of 2023[149]. Market Conditions - The uranium spot price rose from $47.60 per pound at the beginning of the quarter to $50.60 per pound by March 31, 2023, marking a 6% increase[128]. - NdPr Oxide prices in China dropped approximately 26% during the Quarter from ¥710 RMB/kg (about $103/kg) to ¥525 RMB/kg (about $76/kg)[136]. - The REE market is dominated by China, producing approximately 83% of refined REE products, with prices for magnet elements expected to remain elevated through 2050[137]. Strategic Initiatives - Energy Fuels is ramping up production of rare earth element (REE) carbonate and evaluating the potential to recover radioisotopes for cancer therapeutics[32]. - The Company is focused on establishing itself as a critical minerals hub in the U.S., contributing to clean energy and climate change initiatives[32]. - The Company is actively pursuing additional supplies of natural monazite sands and has engaged with U.S. government agencies on various REE initiatives[109]. - The Company is positioned to participate in the cleanup of abandoned uranium mines in the U.S., with potential revenue from cleanup activities exceeding $1.5 billion[113]. Shareholder Information - Energy Fuels Inc. issued 346,350 shares for stock options and restricted stock units during the first quarter of 2023[29]. - The company has authorized a total of 15,802,941 common shares for future equity incentive plan awards as of March 31, 2023[62]. - The fair value of Stock Appreciation Rights (SARs) granted during the three months ended March 31, 2023, was estimated at $3.45 per SAR, with a weighted average expected volatility of 55%[69]. Regulatory and Compliance - The Chief Executive Officer and Chief Financial Officer concluded that the disclosure controls and procedures were effective as of March 31, 2023[206]. - There have been no changes in internal control over financial reporting that materially affected the Company's internal control during the quarter ended March 31, 2023[207]. - The company is not aware of any material pending or threatened litigation that would likely have a material adverse effect on operations[210]. - There have been no material changes from the risk factors disclosed in the Annual Report for the year ended December 31, 2022[212].

Energy Fuels Inc. (NYSE:UUUU) Q4 2022 Results Conference Call March 10, 2023 11:00 AM ET Company Participants Mark Chalmers - President and CEO Dave Frydenlund - EVP and Chief Legal Officer Curtis Moore - SVP, Marketing and Corporate Development Conference Call Participants Marcus Giannini - H.C. Wainwright Joseph Reagor - Roth MKM Mike Heim - NOBLE Capital Markets Puneet Singh - Eight Capital Operator Good morning. My name is Sylvie, and I will be your conference operator today. At this time, I would like ...