Increased Uranium Production
Energy Fuels increased uranium production and sales, setting the stage for increased gross margins in 2026. The Pinyon Plain mine is producing more uranium than any other company in the U.S.
Rare Earth Segment Progress
Significant progress in the rare earth segment, including heavy rare earth piloting and plans for commercial production. The company has received qualification for NdPr production going into major automobile manufacturers.
Strong Financial Position
Completed a $700 million convertible note offering on favorable terms, leading to a working capital balance approaching USD 1 billion post-quarter.
Strategic Joint Ventures
Received all government approvals for the development of the Donald joint venture project in Australia, with significant heavy rare earth content.
Improved Uranium Cost Structure
Uranium production costs are expected to decline, with a target of $23 to $30 per pound as production ramps up.
Rare Earth and Mineral Sands Expansion
The company plans to expand its rare earth and mineral sands operations, with an updated feasibility study expected by the end of 2025.