Energy Fuels Announces Q3-2025 Results

Core Insights - Energy Fuels Inc. reported increased uranium sales and strong low-cost uranium mining, with production expected to exceed guidance for 2025 [2][3][4] - The company successfully produced 29 kilograms of dysprosium oxide and is preparing for the production of terbium oxide [4][15] - A recent upsized offering of $700 million in convertible senior notes has bolstered the company's working capital to nearly $1 billion [4][6] Financial Highlights - As of September 30, 2025, the company had $298.5 million in working capital, including $94 million in cash and cash equivalents, and no debt [6][28] - The company reported a net loss of $16.7 million for Q3-2025, an improvement from a net loss of $21.8 million in Q2-2025 [6][10] - Total revenues for Q3-2025 were $17.7 million, with uranium concentrate revenues at $17.4 million [28] Uranium Production and Sales - The company sold 240,000 pounds of U3O8 at a weighted average price of $72.38 per pound during Q3-2025 [10] - The Pinyon Plain mine had an average grade of 1.27% U3O8, one of the highest in U.S. history [9] - Expected uranium production for 2025 is between 700,000 and 1 million pounds of finished U3O8, with a strong position to meet or exceed this guidance [10][11] Rare Earth Elements (REE) Developments - The REE market has seen significant improvements, with NdPr prices increasing by approximately 25% from June to September 2025 [16] - The company is advancing its Donald Project in Australia, which is expected to produce significant quantities of rare earth oxides starting in 2027 [16][20] - Energy Fuels is collaborating with Vulcan Elements to create a domestic supply chain for rare earth permanent magnets [20] Market Conditions and Future Guidance - The spot price of U3O8 was $82.50 per pound as of October 31, 2025, indicating a favorable market for uranium sales [16] - The company expects to sell 160,000 pounds of U3O8 in Q4-2025 under existing long-term contracts [10] - Preliminary guidance for 2026 includes expected sales of 620,000 to 880,000 pounds of U3O8 [10]