Thursday, October 01, 2020
Energy Fuels (UUUU)(EFR:CA)
Executive Order Aims to Reduce Reliance on Critical Minerals from Foreign Adversaries
As of April 24, 2020, Noble Capital Markets research on Energy Fuels is published under ticker symbols (UUUU and EFR:CA). The price target is in USD and based on ticker symbol UUUU. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.
Energy Fuels is the largest uranium producer in the U.S. and holds more production capacity and uranium resources than any other U.S. producer. The Company also produces vanadium. Headquartered in Colorado, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Facility in Wyoming, and the Alta Mesa ISR Facility in Texas. The producing White Mesa Mill is the only conventional uranium mill in the U.S. and has a licensed capacity of 8 million pounds of U3O8 per year. Nichols Ranch is in production and has a licensed capacity of 2 million pounds of U3O8 per year. Alta Mesa is currently on standby. Energy Fuels also owns several licensed and developed uranium and vanadium mines on standby and other projects in development.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
President Trump issues executive order. On September 30, President Trump issued an executive order that, among other things, instructs the Secretary of the Interior in consultation with other cabinet secretaries, to investigate the United States’ undue reliance on critical minerals from foreign adversaries. Within 60 days, the Secretary of the Interior is to submit a report to the President summarizing conclusions and recommending executive action, including tariffs or quotas or other import restrictions against China and/or other foreign adversaries whose economic practices represent a threat to the United States.
Declaration of a national emergency. Recall that in 2018 the U.S. Department of the Interior identified 35 critical minerals, including uranium, the rare earth elements group and vanadium. President Trump’s recent order notes that the U.S. imports 80% of its rare earth elements directly from China. The order notes that the United States’ undue reliance on critical minerals from foreign adversaries …
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.