Energy - smartinvestment.ca

[steelpiston71]

Energy Fuels Receives Mine Permit from State of Wyoming for Its Sheep Mountain Uranium Project

LAKEWOOD, COLORADO--(Marketwired - July 16, 2015) - Energy Fuels Inc. (NYSE MKT:UUUU)(TSX:EFR) ("Energy Fuels" or the "Company") is pleased to announce that the State of Wyoming has granted the Company approval for a major revision to the existing mining permit for its 100%-owned Sheep Mountain Project, including expansion of surface and underground mining. This is considered a major milestone in the permitting process for this facility. The Sheep Mountain Project is a conventional uranium project located in the Crooks Gap Mining District of central Wyoming, and one of the largest uranium development projects in the U.S. today. The project was formerly operated by Western Nuclear from the 1950's to the 1980s, at which time the mine was shut down due to low uranium prices.

In order to place the Sheep Mountain Project into production, the Company also requires a final environmental impact statement ("EIS") from the U.S. Bureau of Land Management ("BLM") and a facility to process the ore from this property. In January 2015, the BLM issued a draft EIS, and the Company expects the BLM to issue a final EIS and approve the Plan of Operations by mid-2016. The Company is continuing to evaluate processing options for the Sheep Mountain Project, including the permitting and construction of a new onsite heap leach facility or the use of an existing third party milling facility in the region.

According to an April 2012 preliminary feasibility study ("PFS"), the Sheep Mountain Project contains 30.3 million pounds of uranium contained in 12.9 million tons of Indicated Mineral Resources with an average grade of 0.117% eU3O8. In addition, the Sheep Mountain Project is one of the only uranium projects in the U.S. with reserves. Included in the Indicated Mineral Resources, the project contains 18.4 million pounds of uranium contained in 7.5 million tons of Probable Mineral Reserves with an average grade of 0.123% eU3O8. The PFS also estimates that the project can produce up to 1.5 million pounds of U3O8 per year over a 15-year mine life.

Stephen P. Antony, President and CEO of Energy Fuels stated: "With over 30 million pounds of uranium resources, the Sheep Mountain Project is one of the largest and most important uranium projects in the U.S. Receipt of the mining permit is a key achievement for Energy Fuels, as we work to ready this project for mining."

"In 2014, Energy Fuels was the second largest producer of uranium in the U.S. with nearly 1 million pounds of production. Our goal is to become the leading uranium producer in the U.S., which could be achieved through our project pipeline that we believe is unmatched in the industry today. We recently added existing ISR production to our portfolio, through the acquisition of Uranerz and its Nichols Ranch ISR Mine and Plant in Wyoming. In addition, large-scale conventional uranium projects, such as our Sheep Mountain, Roca Honda, and Henry Mountains Projects, are critical components of Energy Fuels' production growth strategy, as we seek to significantly scale-up our production capability to capture expected uranium market improvements."

[steelpiston71]

Over $10.40 today

[steelpiston71]

Energy Fuels perking up, has gone from 4.75 to over $9 in just a couple of months.

[steelpiston71]

EFR is set to buy STM next mid-week. For each share of STM, you get 1.47 of EFR. There is an arbitrage play here, currently EFR is .225 while STM is .31/.32 and should be .33.

Micky Fulp on BNN mentions EFR towards the end of this interview... http://watch.bnn.ca/#clip988231

[kjm]

EFR sounds interesting but they have so many bloody shares out, its just not for me.
Currently I have a position in CCO via Jan call options and my favourite imminent producer is URE. Lots of insitu activity in Wyoming. URZ is another good one. I think we could see a real run on these guys as we get closer to year end.

[steelpiston71]

http://www.au-wire.com/casey-r.....um-market/

Thursday, May 16, 2013 · Posted in Uranium, Uranium Companies · by Peter Epstein

“Security of Supply,” these are not just words when it comes to uranium. Global geopolitics mean that uranium supply could literally be fought over in coming years. Casey Research believes that Russia is making a grab for as much uranium production, processing and down-blending business as it can. Russia is also aggressively going after contracts to build and service nuclear reactors.

The U.S. is highly vulnerable to uranium supply disruptions from Russia and Kazakhstan. Worse, it should come as no surprise that Putin and his cronies have a lot of influence in Kazakhstan. If the U.S. wants to diversify away from Russia & Kazakhstan it can go to….. Africa! Yes, that’s right, Niger and Namibia are fairly big in uranium. Of course, uranium also comes from Canada, but with Canada increasingly supplying China & India, where will the U.S. get its uranium fix?

The U.S. consumes between 50-55 million lbs of uranium a year in its 104 nuclear reactors. Nuclear energy provides about 20% of the country’s electricity. However, the U.S. only produces 4-5 million lbs domestically. The U.S. is far LESS energy independent in uranium than it is in oil. Clearly, the U.S. needs to ramp up domestic uranium production, and soon. Luckily, this is not as daunting as it may sound. The U.S. used to be the largest uranium producer in the world and still has ample reserves.

Energy Fuels, (EFRFF.PK) & (EFR.TO) is very well positioned to help the U.S. reduce its dangerous dependence on Russia and Kazakhstan. This year the Company will produce about 1.2 million lbs of uranium, equal to about a quarter of total U.S. production. Energy Fuels has permitted, recently-producing mines on standby, as well as numerous attractive development projects, most notably the 30 million lbs Sheep Mountain Project in Wyoming. Therefore, the Company could ramp up annual production to 3 million lbs relatively quickly if market conditions warrant.

Today’s long-term contract price of $57 per lb is not sustainable. Few large-scale projects will come online with that kind of pricing. Areva, Rio Tinto and Cameco have each delayed mega-projects. These projects require long-term pricing of $65-$85 per lb to be economically viable. Like the Big Boys, Energy Fuels likely requires long-term prices to rebound above $65 per lb before it re-starts idled production.

However, unlike U.S. peers, Energy Fuels is 100% owner of the only permitted and operating conventional uranium mine in the country, the White Mesa Mill in Utah. Therefore, the Company is more leveraged to the inevitable increase in uranium prices than peers. Why? As other conventional mines come back, they will have little choice but to send Energy Fuels their output for toll milling. In the past, White Mesa milled as much as 4 million lbs of uranium in a single year. The mill has nameplate capacity of 8 million lbs.

Thus, within just a few years, Energy Fuels could be producing and milling up to 3 million lbs of its own uranium and toll milling an additional 3 million lbs through the White Mesa mill. That 6 million lbs would be roughly 10% of U.S. consumption and greater than half of U.S. production. Energy Fuels is already the 2nd leading uranium producer in the U.S. and poised to become an important North American player.

Dundee Securities, Dahlman Rose and Haywood Securities follow Energy Fuels closely. Dundee and Haywood have price targets of $0.75 and $0.35, respectively. The current stock price is $0.135. Neither Dundee nor Haywood ascribe much value to Energy Fuels’ toll milling opportunity. Toll milling is a low-risk, sustainable, long-run business that lowers unit operating costs due to economies of scale.

BMO, Cantor Fitzgerald, Roth Capital, RBC, Raymond James, CIBC and Global Hunter are also active in the uranium sector, but none cover Energy Fuels at this time. Together, that’s ten sell-side shops, up to seven of which could become active followers of the Company in coming months.

With 71 million lbs of U.S. uranium resources, (a top holder) Energy Fuels is too big to be ignored. With an Enterprise Value of about $100 million and the White Mesa mill arguably worth at least that much to a company like Rio Tinto, Paladin or Cameco, Energy Fuels is trading extraordinarily cheap compared to peer uranium producers. In fact, the Company is even trading cheap to some of the development companies.

Investors interested in uranium need to look at this May, 2013 Corporate Presentation. On page 10, one can see that peer uranium producers are trading at an average EV / lb of uranium resource of $3.5. Energy Fuels is trading at an EV / lb of uranium resource of $1.44. I think this major gap in valuation will close in coming months. I see a decent shot of Energy Fuels’ stock price doubling to $0.27 cents per share once uranium prices start to rebound.

[langenburg]

What a dog this has been. I've been sitting on it for 5 years. Not sure if this can ever see the light of $1

[steelpiston71]

http://www.theenergyreport.com/pub/co/636#quote

Expert Analysis

Colin Healey, Haywood Securities (8/20/12) "We are reinitiating coverage of Energy Fuels Inc. with a 12-month target price of $0.45/share; the 120% projected return warrants a Sector Outperform rating. . .the company has transformed into a significant U.S. uranium producer with a new share structure, new assets and a production model."

Rob Chang, Versant Partners (8/16/12) "Energy Fuels Inc. announced on Wednesday that during the month of July, two sales shipments totaling approximately 200 Klb at an average price of US$62.18/lb had been shipped. The sales were completed under two long-term uranium contracts that were transferred to Energy Fuels upon the June 29 completion of purchase of the U.S. uranium assets of Denison Mines; the completion of these two shipments now places Energy Fuels as a uranium supplier and the largest active, conventional uranium producer in the U.S."

The Energy Report Interview with David Talbot (8/14/12) "Energy Fuels Inc. has emerged from a couple of deals as the second-largest uranium producer in the U.S., with a resource base of 70 Mlb. We have a Buy rating on the stock and a $0.90 target price. They bought the White Mesa mill from Denison, which is the only operating conventional mill in the U.S., plus several operating mines. This saved Energy Fuels about $150M by not having to construct its own mill, where it just received its NRC license in Colorado. Synergies with projects in Utah, Colorado and Arizona might fill that mill, keeping costs as low as possible. . .we view Energy Fuels as a good opportunity with cash flow and significant leverage to rising uranium prices. It's preparing its pipeline of projects with two mines that are already permitted, Whirlwind and Energy Queen. Pinenut is also approaching production within the year. The management team has operating experience with the old Energy Fuels nuclear company, and its Sheep Mountain project up in Wyoming could bring this company to a whole new level." More >

Rob Chang, Versant Partners (8/2/12) "Energy Fuels Inc. is an undervalued uranium producer after its acquisition of Denison Mines' U.S. assets. The transaction gives Energy Fuels operating mines (with an additional one coming online this year) for a total production profile of 0.9 Mlb U3O8. The company also acquires the only conventional uranium mill in the U.S. Combined with the Energy Queen and Whirlwind mines (which are both turnkey mines that can become operational within a year) and its 30.3 Mlb U3O8 Sheep Mountain project that is scheduled to begin production in 2015."

David Talbot, Dundee Securities (7/30/12) "We recommend Energy Fuels Inc. as a Buy. . .with two financings and the Denison Mines Corp. transaction behind it, the company has emerged as the second largest producer in the U.S with a resource base of 69.6 Mlb. . .we view investment in Energy Fuels as an opportunity. . .with cash and cash flow, it is preparing pipeline projects such as the permitted Whirlwind and Energy Queen mines and Pinenut toward production within the year."

[steelpiston71]

Getting hit hard the past couple of days on good volume selling. Hit 17 cents today. Mid 2010 lows were around 13 cents.

[atlevan]

EFR...in the development phase.
STM..Feasibilty phase
BYU..Pre-Feasibilty phase
UWE...exploration target
1) Dr. Richard Spencer, U3O8 Corp's President and CEO, said: "These infill drill results add to the mounting evidence that the Kurupung Project could host a large uranium system comparable in size to other albitite-hosted deposits such as Coles Hill in Virginia, Michelin in Labrador and Valhalla in Australia."
2) lots of Mgmt and insiders buying.
MSA..diversified project and tigh structure.

[hogwall]

I'm holding efr-stm-ptu-pxp.Bought them during tax loss selling and hoping for the gaps to get filled.Good Luck

[atlevan]

Pick up a position a few days ago..hasn't yet participated in the rise like other juniors...anyone left?

[steelpiston71]

Been a bumpy ride down from $1.59 to 20 cents since January!

Hit 40 cents today on this news:

EPA Approves Construction of Energy Fuels' Pinon Ridge Mill

TORONTO, ONTARIO--(Marketwire - Oct. 27, 2011) - Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") announced today that the United States Environmental Protection Agency ("EPA") approved construction of the tailings impoundment and evaporation pond facilities for the Piñon Ridge Uranium and Vanadium Mill ("Mill"). These facilities will manage the tailings and wastewater produced by the Mill. Radon emissions from uranium tailings and wastewater are regulated by the EPA under the National Emissions Standards for Hazardous Air Pollutants (or "NESHAPs"). This is the only EPA approval required to construct and operate the Piñon Ridge Mill and follows Energy Fuels' receipt of a Radioactive Materials License for the Mill from the State of Colorado in March of 2011. Permitting of the Mill is nearing completion with only the construction permit from the Colorado Air Pollution Control Division (APCD) for non-radioactive air emissions, still awaiting approval. This permit is in an advanced stage of review by the APCD.
"With the EPA approval, the permitting and environmental risk to our project is now behind us," said Stephen P. Antony, President and CEO of Energy Fuels. "This is significant for Energy Fuels and the domestic uranium industry, as it is the first EPA approval of a conventional mill tailings facility since the NESHAP regulations were revised. Achieving this milestone brings Energy Fuels one big step closer to production of American uranium and vanadium."
The EPA's decision this week is the latest government approval issued to Energy Fuels, and further confirms the quality of the work done by the Company in designing its facilities and its commitment to the environment. On August 4, 2011, Energy Fuels received the required NESHAPs construction approval from the EPA for the Whirlwind Mine's ventilation system. A similar approval was received for the Energy Queen Mine from the State of Utah Division of Air Quality on July 14, 2011. On September 26, 2011, the Company announced that it had entered into a legal settlement that clears the way for securing the water rights needed for Mill operations.
The Piñon Ridge Mill will be located in the heart of the Uravan Mineral Belt, historically the most significant uranium and vanadium producing region in the United States. There is currently only one other uranium and vanadium processing facility operating in the United States. Energy Fuels has two fully-permitted, production-ready mines in the area (the Whirlwind and Energy Queen), and is acquiring, permitting, and rehabilitating additional mines in the region with significant remaining uranium and vanadium resources.

[steelpiston71]

No, not sleeping, but enjoying the ride. I'm still underwater in one account where my avg is $1.52, but I have .31 in another .

Thinking of selling some in that one as it's my best gainer now behind gcu.

http://www.marketwire.com/pres.....376458.htm

Energy Fuels Granted Approval for License for Pinon Ridge Uranium/Vanadium Mill by Colorado Department of Public Health and Environment

TORONTO, ONTARIO--(Marketwire - Jan. 6, 2011) - Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company"), an advanced uranium and vanadium development company, reported today that it has been granted approval by the Colorado Department of Public Health and Environment ("CDPHE") of a Radioactive Materials License ("the license") for the 500 ton per day Piñon Ridge Mill facility to be constructed twelve miles west of Naturita, Colorado in western Montrose County. The license approval is the most significant hurdle to be completed before Energy Fuels is allowed to build and operate the first conventional uranium mill to be constructed in the US in 30 years, and contribute to the rapidly growing global demand for nuclear fuel to generate emission-free electrical power.

Energy Fuels has 60 days to review the CDPHE decision, and the license, and to decide whether to request a formal hearing on the license. If Energy Fuels does not request a hearing, the CDPHE license approval becomes final. That final license approval could potentially be appealed through an appellate process that uses the existing record to review CDPHE's decision on the license.

[rogerklam]

Hi steelpiston71,

Are you sleeping ? Halt for news. I am holding my remaining shares for the ride.

http://bigcharts.marketwatch.c.....mp;time=13

According to SH

http://www.cdphe.state.co.us/r.....010511.pdf

Colorado Department of Public Health and Environment Approves
Radioactive Materials License for Piñon Ridge Uranium Mill

Cheers
Roger

Co. presentation is very impressive
http://www.energyfuels.com/pre.....on2010.pdf