UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 15, 2016
ENERGY
FUELS INC.
(Exact name of registrant as specified in its charter)
Ontario |
001-36204 |
98-1067994 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer
Identification No.) |
225 Union Blvd., Suite 600
Lakewood, Colorado |
80228 |
(Address of principal executive offices) |
(Zip Code) |
(303) 974-2140 |
(Registrant’s telephone number, including area code) |
N/A |
(Former name or former address, if changed since last report) |
Check the appropriate
box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item 8.01 Other Events.
On August 15, 2016, Energy Fuels Inc. issued
a press release attached hereto as Exhibit 99.1
The information furnished pursuant to this
Item 8.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise
subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing under the
Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press Release dated August 15, 2016
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
|
ENERGY FUELS INC.
(Registrant) |
Dated: August 15,
2016 |
By: /s/ David C. Frydenlund
David C. Frydenlund
Senior Vice President, General Counsel and Corporate Secretary |
|
|
Exhibit 99.1
Energy Fuels Announces High-Grade Uranium Intercepts at Nichols
Ranch ISR Project
LAKEWOOD, CO, Aug. 15, 2016 /CNW/ - Energy Fuels Inc. (NYSE
MKT: UUUU; TSX: EFR) ("Energy Fuels" or the "Company"), a leading producer of uranium in the United States,
is pleased to announce that it has intercepted several large and high-grade areas of mineralization in the next wellfield expected
to go into production at its Nichols Ranch ISR Project ("Nichols Ranch") in Wyoming, USA. On August 1, 2016, the
Company began delineation drilling and the installation of the wellfield to be associated with Header House 9 at Nichols Ranch.
Currently, four rigs are being utilized to drill pilot holes, ream, case, and complete the injection and recovery wells for
this wellfield. Header House 9 is expected to begin producing uranium later in 2016.
To date, a total of 52 holes in this new wellfield have been
drilled. Of the 52 holes, 46 have encountered mineralization which is above the grade % x thickness ("GT") cut-off
of 0.3. This includes one hole which encountered 5.0 feet of mineralization with an average grade of 2.40% eU3O8.
In addition, many of the holes have encountered multiple intercepts above the GT cutoff. It is anticipated that a total of
120 wells will be incorporated into Header House 9. The table below contains data for the 10 best holes drilled to date in
this wellfield:
Hole Number |
Thickness
(feet) |
Avg. Grade
(% eU3O8) |
GT*
(Grade X Thickness) |
AZ034 |
5.0 |
2.401 |
12.00 |
AV030 |
31.5 |
0.302 |
9.51 |
AY034 |
28.0 |
0.224 |
6.26 |
AX028 |
22.0 |
0.265 |
5.84 |
AU029 |
22.0 |
0.236 |
5.19 |
AV033 |
27.0 |
0.186 |
5.02 |
AW037 |
20.0 |
0.215 |
4.30 |
AW034 |
31.5 |
0.134 |
4.22 |
AZ029B |
11.0 |
0.374 |
4.11 |
AZ033 |
17.0 |
0.239 |
4.06 |
* GT represents grade multiplied by the thickness and is calculated by multiplying eU3O8 grade (in percent) by gamma anomaly thickness (in feet) as determined from down-hole radiometric probing. For example, a drill hole that has 10 feet of 0.10% uranium mineralization has a GT of 1.0 and would be considered a good hole by ISR mining standards. |
Stephen P. Antony, President and CEO of Energy Fuels stated:
"The drill results we are seeing in the wellfield for Header House 9 at Nichols Ranch are very positive, and the uranium grades
and thicknesses are significantly exceeding expectations. Indeed, it is quite rare to encounter mineralization in U.S. ISR
projects that have grades above 2.0% U3O8 and GT values above 10. Due to the size of the wellfield,
expected number of wells, and the quality of mineralization we are encountering, we expect this to be the largest and most productive
portion of the wellfield at Nichols Ranch to date. Overall, the Nichols Ranch deposit continues to deliver results that exceed
our original expectations. We look forward to producing uranium from this new wellfield beginning later this year."
About Energy Fuels: Energy Fuels is
a leading integrated US-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy
Fuels holds three of America's key uranium production centers, the White Mesa Mill in Utah, the Nichols Ranch Processing Facility
in Wyoming, and the Alta Mesa Project in Texas. 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 is an ISR production center with a licensed capacity of 2 million pounds of U3O8 per
year. Alta Mesa is an ISR production center currently on care and maintenance. 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".
Stephen P. Antony, P.E., President & CEO of Energy
Fuels, is a Qualified Person as defined by Canadian National Instrument 43-101 and has reviewed and approved the technical
disclosure contained in this news release.
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 in the U.S.; the Companies expectation that Header House 9 will contain 120 wells and goes into production later in
2016; the results of drilling completed to date and the amount of recoverable uranium implied by that drilling; the Company's belief
that this will be the largest and most productive wellfield at Nichols Ranch to date; Nichols Ranch continuing to exceed the Company's
expectations; and any other statements regarding Energy Fuels' 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: the Company being a leading producer of uranium in
the U.S.; the Companies expectation that Header House 9 contains 120 wells and goes into production later in 2016; the results
of drilling completed to date and the amount of recoverable uranium implied by that drilling; the Company's belief that this will
be the largest and most productive wellfield at Nichols Ranch to date; Nichols Ranch continuing to exceed the Company's expectations;
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.
%CIK: 0001385849
For further information: Investor Relations Inquiries: Energy
Fuels Inc., Curtis Moore - VP - Marketing & Corporate Development, (303) 974-2140 or Toll free: (888) 864-2125, investorinfo@energyfuels.com,
www.energyfuels.com
CO: Energy Fuels Inc.
CNW 08:30e 15-AUG-16
This regulatory filing also includes additional resources:
ex991.pdf
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