Energy Fuels Announces Resource Expansion and Consolidation Strategy for Second-Half of 2011
16 Juin 2011 - 2:35PM
Marketwired
Energy Fuels Inc. (TSX: EFR) ("Energy Fuels" or the "Company")
today announced plans to expand and consolidate the Company's
uranium and vanadium resources on the Colorado Plateau in the
second half of 2011. These plans include a summer and fall drill
program on currently-owned properties, resource verification and
expansion, and technical report preparation to convert historic
resource into NI 43-101 compliant resource. In addition, in the
opinion of the Company the current market conditions represent a
buying opportunity to acquire additional properties that can
provide long-term feed for the Company's planned Pinon Ridge Mill.
Energy Fuels received strong market validation of this business
model when it closed on $11.5 million of equity financing in the
midst of the Japanese crisis in March.
Energy Fuels is actively acquiring mining properties within
reasonable haul distance of the Pinon Ridge Mill that will enhance
the Company's existing portfolio of assets. The Company already
owns two existing, permitted mines with large known uranium and
vanadium resources, the Whirlwind Mine and the Energy Queen Mine.
As was reported in an April 14, 2011 press release (please click
here to view: http://energyfuels.com/news/index.html#apr14), Energy
Fuels' NI 43-101 compliant uranium and vanadium resource base
continues to increase significantly through acquisitions and
ongoing drill programs.
Stephen P. Antony, President and CEO of Energy Fuels stated,
"Energy Fuels is quietly assembling an impressive array of
properties on the Colorado Plateau. This summer, we intend to
expand our resource portfolio even further. In addition to the
licensing and construction of the Pinon Ridge Mill, a vital aspect
of Energy Fuels' strategy is to convert historic known resources
into compliant NI 43-101 resources through near-term drill programs
and data acquisition. Our ultimate goal is to bring these proven
and formerly-producing mines back into production and process the
material at the Pinon Ridge Mill."
Key to Energy Fuels' consolidation strategy is the proposed
Pinon Ridge Mill, the first conventional uranium mill to be built
in the U.S. in over 30-years. In March, Energy Fuels was granted a
Radioactive Materials License ("License") for the mill from the
State of Colorado. The License is the primary government approval
needed for the Company to construct and operate the mill. The
Company plans to begin operations at the mill in early 2013. While
the License is being challenged in District Court by an
environmental group, Energy Fuels is advancing toward completion of
construction plans and acquiring the remaining permits and
approvals, including construction approval from the U.S.
Environmental Protection Agency for the tailings impoundment and an
air quality permit from the State of Colorado.
The Pinon Ridge Mill will operate in the heart of the Uravan
Mineral Belt, historically the most significant uranium producing
district in the U.S. When built, it will be one of only two
operating uranium mills in the U.S.
"Historically, Colorado and Utah were home to the most important
uranium producing districts in the World," Mr. Antony continued.
"These areas still contain significant quantities of uranium and
vanadium that can be produced competitively and economically. The
Colorado Plateau can again be a major uranium producing area of
worldwide significance."
About Energy Fuels: Energy Fuels Inc. is a uranium and vanadium
mineral development company. With more than 45,000 acres of highly
prospective uranium and vanadium property located in the states of
Colorado, Utah, Arizona, Wyoming, and New Mexico, and exploration
properties in Saskatchewan's Athabasca Basin totaling approximately
32,000 additional acres, the Company has a full pipeline of
additional development prospects. Energy Fuels, through its
wholly-owned Colorado subsidiary, Energy Fuels Resources
Corporation and its British Columbia subsidiary, Magnum Uranium
Corp., has assembled this property portfolio along with a first
class management team, including highly skilled technical mining
and milling professionals based in Lakewood and Naturita, Colorado
and Kanab, Utah.
This news release contains certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended and "Forward Looking Information"
within the meaning of applicable Canadian securities legislation.
All statements, other than statements of historical fact, included
herein are forward-looking statements and forward-looking
information that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations
are disclosed in the Company's documents filed from time-to-time
with the British Columbia, Alberta and Ontario Securities
Commissions.
Contacts: Energy Fuels Inc. Curtis Moore Corporate
Communications (303) 974-2140 or Toll free: 1-888-864-2125 Energy
Fuels Inc. Gary Steele Investor Relations (303) 974-2140 or Toll
free: 1-888-864-2125 investorinfo@energyfuels.com
www.energyfuels.com
Energy Fuels (TSX:EFR)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Energy Fuels (TSX:EFR)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024