Energy Fuels Ord Shs T.EFR

Alternate Symbol(s): UUUU

Energy

Energy Fuels Inc. is a critical minerals company focused on uranium, rare earth elements (REEs), heavy mineral sands (HMS), vanadium and medical isotopes. The Company is a producer of natural uranium concentrate, which owns and operates several conventional and in situ recovery uranium projects in the western United States. The Company also owns the White Mesa Mill in Utah, which is the fully licensed and operating conventional uranium processing facility in the United States. The Company also owns the operating Kwale HMS project in Kenya. It is developing three additional HMS projects, including the Toliara Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia, in which the Company has the right to earn up to approximately 49% interest in a joint venture with Astron Corporation Limited. The Toliara Project is located in south-west Madagascar, 45 kilometers (kms) north of the regional town and port of Toliara.

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Energy Fuels Ord Shs

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Post by Peter518on Nov 10, 2008 11:48pm

445 Views

Post# 15577459

Tide is changing...

UUU stopped production in SA, URRE halted further development in USA. CCO...has problems at Cigar lake and McArthur, and now Kazakhstan cut uranium production....

Seems the tide is changing...

=======================================================

Uranium Advances 4% on Kazakh Output Cut, Deutsche Bank Fund

By Yuriy Humber

Nov. 10 (Bloomberg) -- Uranium rose for a second week after Kazakhstan's state producer cut its output target for next year and Deutsche Bank AG set up a fund to buy the radioactive metal.

Uranium-oxide concentrate for immediate delivery rose $2, or 4.3 percent, to $48 a pound from a week ago, Denver-based pricing service TradeTech LLC said in a report Nov. 7. Demand outpaced supply for the first time in six weeks, reaching 5 million pounds compared with the 3.4 million pounds offered.

``Spot supply no longer overwhelms demand as concerns over future production and signs of strengthening demand are all creating upward pressure on prices,'' TradeTech said. Six deals for about 400,000 pounds of uranium took place last week.

Uranium is recovering after it slumped to $45 a pound from a record $138 a pound in June last year. Investors sold out of the metal on concern a global economic slowdown and credit freeze will curb construction of nuclear power plants.

State-run Kazatomprom said Nov. 6 it will produce less than 12,000 metric tons of the metal used to fuel the plants, at least 826 tons less than estimated in July. The world's biggest producer, Saskatchewan-based Cameco Corp. said Nov. 5 it noticed a ``modest increase in water inflow'' at the McArthur River mine in Canada. Production wasn't affected, it said.

Deutsche Bank, Germany's largest lender, said last week it was setting up an exchange-traded fund to invest in uranium. The DB-New York Nuclear Uranium Fund seeks to raise $100 million in an initial public offering, according to a Nov. 7 filing with the U.S. Securities and Exchange Commission.

Demand also grew after a non-U.S. utility entered the market seeking 2 million pounds of uranium oxide for delivery before July 2009, TradeTech said. One ton of uranium equals 2,600 pounds of uranium-oxide concentrate equivalent.

To contact the reporter on this story: Yuriy Humber in Moscow atyhumber@bloomberg.net

Last Updated: November 10, 2008 08:19 EST

https://www.bloomberg.com/apps/news?pid=20601081&sid=agQb2Ve6rjLw&refer=australia

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