Company Will Discuss the Coosa Graphite
Project as U.S. Source of Natural Graphite
Management Will Explain Recent Federal
Ruling Regarding Graphite
Pilot Plant under Construction in Germany
and the USA
Westwater Resources, Inc. (Nasdaq: WWR), an energy
materials development company, will hold a conference call to
discuss its financial results for the third quarter ended September
30, 2020, and the business outlook for the remainder of the year.
The conference call will be held on Thursday, November 12, 2020
at 11:00 am Eastern time (9:00 am Mountain Time).
DIAL-IN NUMBERS
1-800-319-4610 (US and Canada) 1-604-638-5340 (International)
Conference ID: Westwater Resources Conference Call
Hosting the call will be Christopher M. Jones, President and
Chief Executive Officer of Westwater Resources, who will be joined
by Jeffrey L. Vigil, Vice President-Finance and Chief Financial
Officer, and Dain McCoig, Vice President of Operations. Mr. Jones
will present an overview of the Company’s business position,
including the pending sale of its uranium properties, an update on
the Coosa Graphite Project, including the status of the
construction of its pilot plant, and the U.S. Government's recent
ruling on graphite. Mr. Vigil will review the financial results and
the financial condition of the Company and Mr. McCoig will be
available for questions as part of the call.
The conference call and presentation will also be available via
a live webcast through the Company’s website,
www.westwaterresources.net.
As an integral step in the Company’s new commitment to graphite,
on September 8, 2020, Westwater announced a binding letter of
intent to sell its uranium assets located in New Mexico and Texas
to enCore Energy Corp. (“enCore”) of Vancouver, British Columbia,
Canada. Total compensation accruing to Westwater as part of the
deal is expected to be in excess of US$1.95 million in enCore
common shares and in retained royalties from future production from
the New Mexico uranium properties. All remaining reclamation
liabilities and bonding obligations for the Company’s uranium
properties in Texas will be transferred to enCore at the time of
sale, with the transaction expected to close on or before December
31, 2020.
On August 20, 2020, Westwater announced the commencement of its
graphite pilot plant program. The pilot plant is currently under
construction at Dorfner Anzaplan’s facility near Amberg, Germany,
supported by other facilities in Frankfurt, Germany, Chicago, IL
and Buffalo, NY. This combined effort is expected to produce a
total of more than 10 metric tonnes of three trademarked battery
graphite products: ULTRA-PMGTM, ULTRA-CSPGTM and ULTRA-DEXDGTM.
“We are delighted with the progress made in the third quarter,
which has continued into the current quarter,” said Mr. Jones. “In
October, President Trump declared the USA's heavy reliance on
foreign nations for critical minerals as a national emergency. The
declaration highlights the importance of Westwater’s plans to
develop the Coosa Graphite Deposit in east-central Alabama.
Westwater’s business plan for the Coosa Graphite Project over the
next two and a half years is to develop a U.S. domestic supply for
natural graphite, which should help abate the country’s current
reliance on foreign graphite.”
“We are also making great progress with our pilot plant,” Mr.
Jones added. “On October 9, 2020, we announced delivery of 30
metric tonnes of natural flake graphite concentrate at Dorfner’s
facility in Germany.”
“We continue to execute our business plan, and we are looking
forward to announcing additional positive news as we approach
year-end,” said Mr. Vigil. “Selling our uranium business will be an
accretive step, one that enables us to drive our Coosa Graphite
Project forward and to produce and market our trademarked graphite
products. We are pleased to be able to deliver such good news to
our shareholders.”
A replay of the call will be available on the company’s website
for a limited time and by phone using the details below:
REPLAY NUMBERS
+1 (855) 669-9658 (U.S. and Canada) +1 (412) 317-0088
(International) Replay Access Code 5521
About Westwater Resources
Westwater Resources (NASDAQ: WWR) is focused on developing
energy-related materials. The Company’s battery-materials projects
include the Coosa Graphite Project — the most advanced natural
flake graphite project in the contiguous United States — and the
associated Coosa Graphite Mine located across 41,900 acres (~17,000
hectares) in east-central Alabama. Westwater’s uranium projects,
located in Texas and New Mexico, are the subject of a pending sale
to enCore Energy Corp. Also included in the sale are an extensive
uranium information database of historic drill hole logs, assay
certificates, maps, and technical reports for the western United
States. For more information, visit www.westwaterresources.net.
Cautionary Statement
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as "expects,"
"estimates," "projects," "anticipates," "believes," "could," and
other similar words. All statements addressing events or
developments that WWR expects or anticipates will occur in the
future, including but not limited to the closing of the transaction
with enCore Energy Corp., future demand for and price of graphite,
the Company’s growth, developments at the Company’s projects and
the output expected therefrom, including relating to the proposed
pilot plant and production of battery graphite products, and the
Company’s liquidity and cash demands, including future capital
markets financing and disposition activities, are forward-looking
statements. Because they are forward-looking, they should be
evaluated in light of important risk factors and uncertainties.
These risk factors and uncertainties include, but are not limited
to, (a) the Company’s ability to successfully integrate Alabama
Graphite Corporation’s business into its own, and the risk that
additional analysis of the Coosa Graphite Project may result in
revisions to the findings of WWR’s initial optimization study; (b)
the Company’s ability to raise additional capital in the future;
(c) spot price and long-term contract price of graphite and
vanadium; (d) risks associated with our operations and the
operations of our partners such as Dorfner Anzaplan, including the
impact of COVID-19; (e) operating conditions at the Company’s
projects; (f) government and tribal regulation of the graphite
industry and the vanadium industry; (g) world-wide graphite and
vanadium supply and demand; (h) maintaining sufficient financial
assurance in the form of sufficiently collateralized surety
instruments; (i) unanticipated geological, processing, regulatory
and legal or other problems the Company may encounter in the
jurisdictions where the Company operates or intends to operate,
including Alabama; (j) the ability of the Company to enter into and
successfully close acquisitions or other material transactions; (k)
any graphite or vanadium discoveries not being in high-enough
concentration to make it economic to extract the metals; (l)
currently pending or new litigation or arbitration; and (m) other
factors which are more fully described in the Company’s Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q, and other
filings with the Securities and Exchange Commission. Should one or
more of these risks or uncertainties materialize or should any of
the Company’s underlying assumptions prove incorrect, actual
results may vary materially from those currently anticipated. In
addition, undue reliance should not be placed on the Company’s
forward-looking statements. Except as required by law, the Company
disclaims any obligation to update or publicly announce any
revisions to any of the forward-looking statements contained in
this news release.
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version on businesswire.com: https://www.businesswire.com/news/home/20201106005119/en/
Westwater Resources Contact: Christopher M. Jones, President
& CEO Phone: 303.531.0480 Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481 Email: Info@WestwaterResources.net
Investor Relations Contact: Porter, LeVay & Rose
Michael Porter Phone: 212.564.4700 Email:
Westwater@plrinvest.com
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