Fiat Chrysler agreement termination may benefit Westwater, says H.C. Wainwright

Fiat Chrysler’s termination of its offtake agreement may ultimately benefit Westwater by allowing a lower-capacity, lower-capital path to earlier commercial production, which could help de-risk growth as cash flow begins, H.C. Wainwright tells investors in a research note. An optimized Phase 1 focused on efficiency rather than scale may also improve the likelihood of securing future offtake agreements, the firm says. H.C. Wainwright has a Buy rating and $1.75 price target on Westwater shares.