Westwater Resources(US:WWR)2020-05-14 17:59Company Overview - Westwater Resources is a green-energy material developer focusing on strategic assets for a low carbon future[7] - The company is developing a battery-ready graphite business in Alabama with a vanadium discovery, targeting production in 2022[8] - The company is exploring for lithium in Nevada and Utah and has uranium assets with licensed processing plants in Texas[9] Financial Highlights - As of March 31, 2020, Westwater Resources had $0.87 million in cash and equivalents[17] - Net cash used in operations for Q1 2020 was $(3.455) million, a 26.1% increase compared to $(2.740) million in Q1 2019[21] - Net loss for Q1 2020 was $(3.287) million, a 3.6% increase compared to $(3.174) million in Q1 2019[21] - Net loss per share for Q1 2020 was $(0.82), a -61.9% variance compared to $(2.15) in Q1 2019[21] Coosa Graphite Project - The Coosa Graphite Project in Alabama is positioned as a near-term domestic U S source of natural graphite[25] - The project's pre-tax NPV at 8% is estimated at $481 million, with a pre-tax internal rate of return of 41%[31] - The project's Capex is estimated at $53.4 million in 2021-2022, with the first full year of positive cash flow in 2023[31] - A vanadium discovery at Coosa has the potential to enhance the project's economics[25, 31, 39] Uranium - The company has leverage to a rising uranium price with two licensed processing facilities and 199,700 acres of mineral rights and development properties[9] - The U S Nuclear Fuel Working Group recommends government purchases of $150 million per year for 10 years to rebuild a national uranium reserve[36]