Energy Fuels Announces 2025 Results and 2026 Guidance

Core Viewpoint Energy Fuels Inc. reported significant operational and financial achievements for 2025, highlighting increased uranium production and sales, advancements in rare earth element processing, and a robust financial position with nearly $1 billion in working capital. The company is positioning itself as a leader in the critical materials sector, with plans for future growth and expansion. Financial Highlights - The company incurred a net loss of $86.1 million or $0.38 per share in 2025, an increase from a net loss of $47.8 million or $0.28 per share in 2024, primarily due to higher operational costs following the acquisition of Base Resources Limited [1][2] - Completed an upsized offering of $700 million in 0.75% convertible senior notes, enhancing liquidity to $927.4 million as of December 31, 2025, including $64.7 million in cash and cash equivalents [2][3] - Total revenues for 2025 were $65.9 million, down from $78.1 million in 2024, with uranium revenues of $48.2 million from the sale of 650,000 pounds of U3O8 [5][6] Uranium Production and Sales - Exceeded 2025 guidance in all metrics, producing 1,720,000 pounds of contained U3O8 and processing 1,015,000 pounds of finished U3O8 [2][3] - Entered into two new long-term contracts with U.S. nuclear power companies, expanding the portfolio to six contracts with deliveries extending to 2032 [2][3] - The average spot price of U3O8 was $89.50 per pound as of February 20, 2026, with a long-term price of $90.00 per pound [2][3] Rare Earth Elements (REE) Developments - Significant investments in the rare earth segment, with products confirmed and qualified for use in electric vehicles [1][2] - Planned expansion of the Phase 1 Circuit at the White Mesa Mill to enhance heavy REE production, with expected operational capabilities by 2027 [3][4] - The company announced a proposed acquisition of Australian Strategic Materials to strengthen its position in the rare earth market [1][2] Future Guidance and Projects - For 2026, the company expects to mine between 2,000,000 to 2,500,000 pounds of contained U3O8 and process between 1,500,000 to 2,500,000 pounds of finished U3O8 [2][3] - The company is advancing several uranium projects, including Roca Honda and Bullfrog, which could expand production by over 5 million pounds of U3O8 annually [2][3] - The Vara Mada Project in Madagascar is projected to generate a post-tax NPV of approximately $1.8 billion, with a potential ramp-up to over $500 million in annual EBITDA [4][5] Leadership Transition - The company is preparing for a leadership transition, with Ross Bhappu set to become President and CEO on April 15, 2026, as Mark Chalmers retires [1][2]