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):
October 31, 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 October 31, 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 October 31, 2016 - Energy Fuels Secures New Processing Contract
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: October 31,
2016 |
By: /s/ David C. Frydenlund
David C. Frydenlund
Senior Vice President, General Counsel and Corporate Secretary |
|
|
Exhibit 99.1
Energy Fuels Secures New Processing Contract
LAKEWOOD, CO, Oct. 31, 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 entered into a contract to secure additional quantities of one of its currently licensed uranium-bearing
alternate feed materials for processing at the Company's 100%-owned White Mesa Mill (the "Mill"). Under the contract,
the Company will earn a fee for processing the alternate feed material and returning finished uranium product to the generator
of the feed material. The fee is expected to cover the Company's processing cost and provide the Company with a reasonable
margin. As these additional quantities of alternate feed material are covered by an existing license amendment, no additional
licensing actions will be required.
This will be a substantial project that was not previously
included in the Company's business plan and results in a new source of revenue for 2017. The Company expects the net cash-flows
from the processing of this material to be consistent with past arrangements. This new business is also expected to increase
the Company's uranium processing in 2017 above previously announced guidance, although the uranium recovered will be for the account
of a 3rd party.
Located in southeast Utah, the White Mesa Mill is the only
licensed and operating conventional uranium mill in the United States. The Mill is also one of the only facilities in North
America licensed and equipped to process and recycle alternate feed materials for the recovery of uranium. Alternate feed
materials are materials, other than conventional ores, that contain recoverable quantities of natural uranium. Since the
1990's, the Mill has processed a number of different sources of alternate feed materials, and since 2005, has recovered a total
of approximately 1.5 million pounds of U3O8 from those sources. This is an important aspect of the
Mill's business, especially during times of low uranium prices.
Stephen P. Antony, President and CEO of Energy Fuels stated:
"The Company's ability to process alternate feed materials for the recovery of uranium at the White Mesa Mill, including the
fee processing arrangement we announced today, is a very important aspect of the Company's business and revenue stream. The
White Mesa Mill is an excellent option for entities that generate significant quantities of uranium-bearing materials, since we
are able to return value to them in the form of marketable uranium. This new tranche of material was not previously in our
business plan, so the expected cash-flows are timely for Energy Fuels during today's low uranium prices. Finally, we are
proud of our alternate feed business, as we are recycling these feed sources and recovering natural uranium which is used in the
generation of clean, carbon-free nuclear energy. The Company continues to aggressively pursue additional alternate feed opportunities
for the Mill, as an integral part of our business."
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".
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 ability of the Company to successfully process this alternate feed material; the significance and magnitude
of the net cash-flows expected to be received; whether or not the fees to be obtained will cover the Company's processing costs
and provide the Company with a reasonable margin; the ability of the Company to process this alternate feed material under an existing
license amendment; any increases in the Company's expected uranium production for 2017; the White Mesa Mill being one of the only
facilities in North America licensed and equipped to process and recycle alternate feed materials; alternate feed processing being
an important aspect of the Company's business and revenue; the ability of the White Mesa Mill to return value from alternate feed
materials in the form of marketable uranium; the Company continuing to aggressively pursue additional alternate feed opportunities
for the Mill; 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 ability of the Company to successfully process this alternate feed material; the significance and magnitude of the
net cash-flows expected to be received; whether or not the fees to be obtained will cover the Company's processing costs and provide
the Company with a reasonable margin; the ability of the Company to process this alternate feed material under an existing license
amendment; any increases in the Company's expected uranium production for 2017; the White Mesa Mill being one of the only facilities
in North America licensed and equipped to process and recycle alternate feed materials; alternate feed processing being an important
aspect of the Company's business and revenue; the ability of the White Mesa Mill to return value from alternate feed materials
in the form of marketable uranium; the Company continuing to aggressively pursue additional alternate feed opportunities for the
Mill; 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: 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 06:30e 31-OCT-16
This regulatory filing also includes additional resources:
ex991.pdf
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