LAKEWOOD, CO, April 15, 2016 /PRNewswire/ - Energy Fuels
Inc. (NYSE MKT: UUUU; TSX: EFR) ("Energy Fuels" or the
"Company"), one of the leading producers of uranium in the
U.S., is pleased to announce the appointment of Mark Chalmers as Chief Operating Officer.
Mr. Chalmers will join the Energy Fuels management team in
July 2016 and oversee all of the
Company's conventional and in situ ("ISR") uranium
production operations.
Mr. Chalmers brings an extensive background in both the U.S. and
global uranium mining and processing industries to Energy
Fuels. From 2011 to 2015, Mr. Chalmers served as Executive
General Manager of Production for Paladin Energy Ltd., a uranium
producer with assets in Australia
and Africa, including the Langer
Heinrich and Kayelekera mines, where he oversaw sustained,
significant increases in production while reducing operating costs.
He also possesses extensive experience in ISR uranium
production, including management of the Beverley Uranium Mine owned
by General Atomics (Australia),
and the Highland mine owned by Cameco Corporation (USA). Mr. Chalmers has also consulted to
several of the largest players in the uranium supply sector,
including BHP Billiton, Rio Tinto, and Marubeni, and currently
serves as the Chair of the Australian Uranium Council, a position
he has held since 2007.
Mr. Chalmers represents a valuable addition to the Company's
management team and an important element in the Company's overall
management continuity and succession planning strategy.
"As a recognized leader in the global uranium industry, Mark has
played major roles in developing and operating several successful
mining operations throughout his career", noted Stephen P. Antony, President and CEO of Energy
Fuels. "He is a recognized spokesperson for the uranium and
nuclear energy industries, who has created shareholder value in
both the conventional and ISR uranium mining sectors, and he is one
of the few individuals who has extensive experience in both
extraction methods. In today's competitive uranium market, it
is vitally important to lower costs of production, create
synergies, and build new sources of revenue wherever
possible. We are very fortunate to add him to our already
outstanding management team."
Mr. Birks Bovaird, Chairman of the Board for Energy Fuels,
added, "After a thorough review of prospective candidates for the
operations leadership role with Energy Fuels, we believe the
Company's selection of Mark Chalmers
confirms our commitment to managing our operations at optimum
levels. At Energy Fuels, we are continuing to manage and grow
our capital, including our financial, intellectual, and human
assets. We expect Mark to add greatly to the executive
strength we have put together to lead Energy Fuels into the
future."
In 2016, Energy Fuels expects to produce approximately 950,000
pounds of uranium from its two 100%-owned production facilities,
the White Mesa conventional uranium mill in Utah and the Nichols Ranch ISR project in
Wyoming. The Company is also continuing shaft-sinking and
resource evaluation activities at its high-grade Canyon
conventional mine in Arizona and
permitting activities at its large-scale conventional Sheep
Mountain, Roca Honda, and Bullfrog
projects. Finally in early May
2016, the Company expects to complete its recently announced
acquisition of Mesteña Uranium and its Alta Mesa ISR project in
South Texas. This acquisition is expected to increase the
Company's production scalability at the lower end of its cost
curve.
About Energy Fuels: Energy Fuels is a
leading integrated US-based uranium mining company, supplying
U3O8 to major nuclear utilities. Energy
Fuels operates two of America's key uranium production centers, the
White Mesa Mill in Utah and the
Nichols Ranch Processing Facility in Wyoming. The White Mesa
Mill is the only conventional uranium mill operating in the U.S.
today and has a licensed capacity of over 8 million pounds of
U3O8 per year. The Nichols Ranch
Processing Facility, acquired in the Company's acquisition of
Uranerz Energy Corporation, is an in situ recovery ("ISR")
production center with a licensed capacity of 2 million pounds of
U3O8 per year. Energy Fuels also has
the largest NI 43-101 compliant uranium resource portfolio in the
U.S. among producers, and uranium mining projects located in a
number of Western U.S. states, including one producing ISR project,
mines on standby, and mineral properties in various stages of
permitting and development. The Company's common shares are
listed on the NYSE MKT under the trading symbol "UUUU", and on the
Toronto Stock Exchange under the trading symbol "EFR".
Cautionary Note Regarding Forward-Looking
Statements: Certain information contained in this
news release, including: any information relating to the Company
being a leading producer of uranium;expectations regarding
Mr. Chalmers future and continued employment at Energy Fuels;
expectations regarding increasing production, lowering costs,
achieving synergies, and creating new sources of revenue;
expectations regarding Energy Fuels operational strategy; and any
other statements regarding Energy Fuels' management, future
expectations, beliefs, goals or prospects; constitute
forward-looking information within the meaning of applicable
securities legislation (collectively, "forward-looking
statements"). All statements in this news release that are
not statements of historical fact (including statements containing
the words "expects", "does not expect", "plans", "anticipates",
"does not anticipate", "believes", "intends", "estimates",
"projects", "potential", "scheduled", "forecast", "budget" and
similar expressions) should be considered forward-looking
statements. All such forward-looking statements are subject
to important risk factors and uncertainties, many of which are
beyond Energy Fuels' ability to control or predict. A number
of important factors could cause actual results or events to differ
materially from those indicated or implied by such forward-looking
statements, including without limitation factors relating to:
expectations regarding Mr. Chalmers future and
continued employment at Energy Fuels; expectations regarding
increasing production, lowering costs, achieving synergies,
and creating new sources of revenue; expectations regarding
Energy Fuels' management and operational strategy; and other risk
factors as described in Energy Fuels' most recent annual report on
Form 10-K and quarterly financial reports. Energy
Fuels assumes no obligation to update the information in this
communication, except as otherwise required by law.
Additional information identifying risks and uncertainties is
contained in Energy Fuels' filings with the various securities
commissions which are available online at www.sec.gov and
www.sedar.com. Forward-looking statements are provided for
the purpose of providing information about the current
expectations, beliefs and plans of the management of Energy Fuels
relating to the future. Readers are cautioned that such
statements may not be appropriate for other purposes. Readers
are also cautioned not to place undue reliance on these
forward-looking statements, that speak only as of the date
hereof.
SOURCE Energy Fuels Inc.