Westwater Resources Reports 2024 Achievements and Financials

Westwater Resources ( (WWR) ) has released its Q4 earnings. Here is a breakdown of the information Westwater Resources presented to its investors.

Westwater Resources, Inc. is an energy technology company focused on developing battery-grade natural graphite, with its primary project being the Kellyton Graphite Plant in Alabama.

In its latest earnings report, Westwater Resources announced significant achievements for the year 2024, including securing off-take agreements for its Coated Spherical Purified Graphite (CSPG) with major companies SK On and Fiat Chrysler Automobiles. The company also reported a reduction in estimated construction costs for its Kellyton Graphite Plant.

Key financial highlights include a decrease in net cash used in operations and investing activities, attributed to cash received from sales and reduced capital expenditures. However, the company reported an increased net loss compared to the previous year, primarily due to a loss on the sale of graphite concentrate and lower interest income.

Looking ahead, Westwater Resources remains focused on completing the debt financing necessary for the Kellyton Graphite Plant’s Phase I construction, despite market uncertainties caused by recent policy decisions. The company continues to engage actively with customers and remains optimistic about its business fundamentals.