Westwater Resources Receives First Shipment of Graphite Concentrate
October 15 2019 - 8:00AM
Business Wire
Receipt of natural flake graphite kicks-off
next steps in graphite business plan to produce larger samples for
pre-qualification of products
Westwater Resources, Inc. (Nasdaq: WWR), an energy materials
development company, announced today that it has taken delivery of
the first shipment of natural flake graphite concentrate pursuant
to its recently announced long-term graphite purchase agreement.
The entirety of the 20 metric tonnes of material received will be
used in development of planned pilot scale processes and to produce
several metric tonnes of battery ready advanced graphite products
which include ULTRA-PMGTM, ULTRA-DEXDGTM and ULTRA-CSPGTM. Various
sizes of each of the Company’s three planned products will be
distributed to potential clients to advance the pre-qualification
process.
Christopher M. Jones, President and Chief Executive Officer,
said, “With this delivery, we can now go about the business of
executing our pilot plant studies and putting larger samples of
battery graphite in the hands of battery manufacturers. This is an
important milestone.”
About Westwater Resources
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. In addition, the Company maintains lithium mineral
properties in two prospective lithium brine basins in Nevada and
Utah. Westwater’s uranium projects are located in Texas and New
Mexico. In Texas, the Company has two licensed and currently idled
uranium processing facilities and approximately 11,000 acres
(~4,400 hectares) of prospective in-situ recovery uranium projects.
In New Mexico, the Company controls mineral rights encompassing
approximately 188,700 acres (~76,000 hectares) in the prolific
Grants Mineral Belt, which is one of the largest concentrations of
sandstone-hosted uranium deposits in the world. Incorporated in
1977 as Uranium Resources, Inc., Westwater also owns 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 statements relating to the
planned startup of and production from the Coosa Graphite
Processing Facility and any future production of graphite feedstock
from the Coosa Graphite Mine, 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 implement the Coosa Graphite Project
business plan including elements associated with the planned pilot
plant and its processes, and the risk that additional analysis of
the Coosa Graphite Project may result in revisions to that business
plan; (b) the Company’s ability to raise additional capital in the
future; (c) spot price and long-term contract price of graphite,
lithium, vanadium and uranium; (d) risks associated with our
domestic operations; (e) operating conditions at the Company’s
projects; (f) government and tribal regulation of the graphite
industry, the lithium industry, the vanadium industry, the uranium
industry, and the power industry; (g) world-wide graphite, lithium,
vanadium and uranium supply and demand, including the supply and
demand for lithium-based batteries; (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 in Alabama, Texas, New Mexico, Utah, and Nevada; (j) the
ability of the Company to enter into and successfully close
acquisitions or other material transactions; (k) the results of the
Company’s lithium brine exploration activities at the Columbus
Basin and Sal Rica projects, and the possibility that future
exploration results may be materially less promising than initial
exploration result; (I) any graphite, lithium, vanadium or uranium
discoveries not being in high-enough concentration to make it
economic to extract the metals; (m) currently pending or new
litigation or arbitration; and (n) 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. The
results of the initial optimization study are preliminary in nature
and subject to revision following WWR’s further analysis of the
Coosa Graphite Project.
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version on businesswire.com: https://www.businesswire.com/news/home/20191015005263/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: Michael Porter Porter, LeVay
and Rose Phone: 212.564.4700 Email: Westwater@plrinvest.com
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