Wednesday, May 26, 2021

Energy Fuels (UUUU)(EFR:CA)
Rating Upgraded, New Price Target

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.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

We are upgrading our rating on the shares of Energy Fuels and establishing a new price target. The upgrade reflects an increased recognition of the value of Energy Fuel’s Rate Earth Element (REE) strategy as well as a belief that the company is well positioned to take advantage of an expected increase in uranium prices.


The success of Energy Fuels and its stock price is largely tied to the success of the domestic uranium industry.  If uranium prices return to historical levels above $50 per pound, all domestic uranium companies including Energy Fuels will do well. We believe such a move will occur in the next few years in response to rising demand and decreasing international supply of uranium. We believe Energy …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*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. 

image credit: ep_Jhu (Flickr)

Crypto Mining Gives Mothballed Fossil Fuel Plants New Life

 

As renewable energy has been replacing the fossil-fuel generated electricity powering communities, bitcoin miners and investors are stepping in to repurpose the older plants. The demand for electricity required to mine bitcoin and other cryptocurrencies and the high return at current prices makes it attractive for miners to restart mothballed plants.

 

Where?

The heat given off by the computers used in mining currencies like Bitcoin makes it logical to set up shop in the higher latitudes where it is naturally cooler. In upstate New York, two idled coal-fired plants are now been converted to natural gas generation and restarted to supply power to Bitcoin mining. Another coal plant in Montana is revamping, now fueled by natural gas, to mine cryptocurrency. 

 

Why?

Cryptocurrency profitability is driving the move.  Bitcoin mining relies on powerful computers solving puzzles; when the puzzle is solved, the reward is a newly minted Bitcoin; as the price of Bitcoin has escalated, the attractiveness of mining has grown. Mining, however, consumes massive amounts of electricity. As mining competition increases, the puzzles get harder.  The higher the bitcoin price, the more competition; the more competition, the more power that is needed.

The University of Cambridge Centre for Alternative Finance hosts a website that indexes power consumption for mining Bitcoin. It estimates that the annual power consumption used for mining  is 130 terawatt-hours. This is three times higher than their estimates in early 2019. To put it easier to visualize terms, it is a little more power than consumed by Argentina. 

 

 

 

 

How?

In Montana, the coal-fired plant, Hardin Generating Station, had been operating well below capacity for a while. Late last year, a miner called 
Marathon Digital Holdings Inc. (MARA) partnered with Hardin’s owner to transform the power plant into a hub for mining bitcoin. Marathon Digital’s CEO said, “We were able to get access to a large amount of power at a very attractive price.”

Marathon has plans to scale up to more than 100 megawatts of electricity. The company said that its break-even costs to produce a bitcoin would fall to $4,600, 38% less than current costs by tapping the Montana coal plant. The company aims to produce at least 55 bitcoins daily by the first quarter of next year, up from an average of two a day in 2020. MARA  holds nearly $300 million worth of Bitcoin on its balance sheet (subject to price fluctuations), making it interesting to investors looking for crypto exposure but unable to invest directly.

One  New York project involves the Greenidge coal-fired power station in the town of Dresden. The inactive plant was purchased in 2014 by a Greenwich, Connecticut private equity company Atlas Holdings. Atlas has since converted the plant to natural gas. Last year, it launched a data center for mining bitcoin using power generated by the plant. The company said it currently has 19 megawatts of mining capacity and plans to raise it to 85 megawatts by the end of 2022.

In March, plans were announced to merge Greenidge with Support.com (SPRT).   The deal allows Support.com shareholders to get 8% of the combined company’s shares. Greenidge said it would use the cash on Support.com’s balance sheet to fund its expansion.

Digihost Technology Inc. (HSSHF) began mining in upstate N.Y. in 2015 to take advantage of hydro-generated power from Niagara Falls. The company produces more than 30 bitcoins each month and gets more than 90% of its electricity from hydropower. The price surge in 2021 has prompted Digihost to buy a 60-megawatt natural-gas plant north of Buffalo, N.Y. The initial plans are to direct 35 megawatts toward bitcoin mining while also sending power to the grid when able. Michel Amar, CEO of the company, said they would partly fuel the plant with natural gas derived from animal manure and other sources.

 

Take-Away

Electricity is critical in solving puzzles to mine Bitcoins. Several companies are finding the solution to their expanding appetite for electricity is to operate their own powerplant. Older plants are being converted to gas-powered and are able to supply the needed power and, at the same time, reduce their costs.

Public companies engaged in Bitcoin mining provide investors with a “back door” way of gaining exposure to price changes of the currency without actually converting dollars to Bitcoin. One creative company has plans to use manure when they can as part of their “greener” method of mining.

 

Suggested Reading:

Small-cap Names in a Big Crypto Market	Making Sense of Non-Fungible Tokens

What’s the Timeline for a U.S. Digital Currency?	Cryptocurrency Gaining Bank’s Acceptance

 

Sources:

https://www.wsj.com/articles/the-rise-of-bitcoin-factories-mining-for-the-masses-1519209000?mod=article_inline

https://cbeci.org/

https://digihost.ca/what-we-do/

https://ir.marathondh.com/news-events/press-releases/detail/1238/marathon-digital-holdings-announces-bitcoin-production-and

https://cbeci.org/mining_map

 

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Wednesday, May 19, 2021

Indonesia Energy Corp (INDO)
2020 Results in Line, Company May Need To Access Financial Market in 2021

Indonesia Energy Corp Ltd is an oil and gas exploration and production company focused on Indonesia. It holds two oil and gas assets through its subsidiaries in Indonesia: one producing block (the Kruh Block) and one exploration block (the Citarum Block). The Kruh Block is located to the northwest of Pendopo, Pali, South Sumatra. The Citarum Block is located to the south of Jakarta.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

INDO reported 2020 financial results in line with expectations. Revenues of $2.0 million (versus $4.2 million) were in line with our $1.7 million estimate. EBITDA loss of $6.6 million was also in line. EPS was ($0.94) versus our ($0.83) estimate. Negative cash flow was expected given covid-related delays in drilling and should turn positive over the next two years if the company maintains its drilling schedule.


INDO’s cash position has decreased and auditors have added “on going concern” language.  INDO’s cash position, which was $16 million after the company’s initial IPO, has decreased to $9.3 million. With 5 wells planned in 2021 at $1.5 million each and an annual cash drain of $6 million or so to support licenses, G&A and other costs, it is possible that the company will need to seek external financing …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*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. 

Wednesday, May 19, 2021

enCore Energy Corp. (ENCUF)(EU:CA)
Price Objective Raised. 2022 Estimates Initiated

enCore Energy Corp together with its subsidiary, is engaged in the acquisition and exploration of resource properties. The company holds the Marquez project in New Mexico as well as the dominant land position in Arizona with additional other properties in Utah and Wyoming. The firm also owns or has access to North American and global uranium data including the Union Carbide, US Smelting and Refining, UV Industries, and Rancher’s Exploration databases in addition to a collection of geophysical data for the high-grade Northern Arizona Breccia Pipe District.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

We are raising our price objective on the shares of ENCUF. The increase reflects continued optimism in a rise in uranium prices, a slight increase in uranium spot pricing in recent weeks, and our introduction of 2022 estimates. We continue to believe uranium prices will soon break out as a confluence of rising demand and decreasing supply will force buyers to begin to sign long-term contracts at higher prices. In recent weeks, spot uranium prices have risen above $30/lb. after a slump in late April. And while past upward movements have proven to be mere head fakes, we believe an eventual breakthrough above $40/lb. is coming within the next 12-18 months.


We are providing initial 2022 annual estimates.  We expect the company to report C$9.1 million in revenues with the startup of the Rosalita plant in 2022. We expect EBITDA and EPS to be negative (C$2.5 million and C$0.02 respectively) in response to startup costs and limited production. Our models assume realized uranium prices of $35/lb. in 2022 reflecting a blend of contracted and spot price …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*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. 

Wednesday, May 19, 2021

Indonesia Energy Corp (INDO)
2020 Results in Line, Company May Need To Access Financial Market in 2021

Indonesia Energy Corp Ltd is an oil and gas exploration and production company focused on Indonesia. It holds two oil and gas assets through its subsidiaries in Indonesia: one producing block (the Kruh Block) and one exploration block (the Citarum Block). The Kruh Block is located to the northwest of Pendopo, Pali, South Sumatra. The Citarum Block is located to the south of Jakarta.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

INDO reported 2020 financial results in line with expectations. Revenues of $2.0 million (versus $4.2 million) were in line with our $1.7 million estimate. EBITDA loss of $6.6 million was also in line. EPS was ($0.94) versus our ($0.83) estimate. Negative cash flow was expected given covid-related delays in drilling and should turn positive over the next two years if the company maintains its drilling schedule.


INDO’s cash position has decreased and auditors have added “on going concern” language.  INDO’s cash position, which was $16 million after the company’s initial IPO, has decreased to $9.3 million. With 5 wells planned in 2021 at $1.5 million each and an annual cash drain of $6 million or so to support licenses, G&A and other costs, it is possible that the company will need to seek external financing …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*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. 

Indonesia Energy Corporation to Host Investor Conference Call to Present Initial Results on its First New Well Drilled at Kruh Block

 

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / May 18, 2021 / Indonesia Energy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced that it will be hosting an investor conference call on Tuesday, June 8, 2021 in order to provide an update (including initial results) on the drilling and completion of IEC’s first new producing well at Kruh Block, called “Kruh 25”. IEC will provide specific dial-in details for the call in a separate communication.

As previously announced, this first well commenced drilling on Wednesday, April 21 at 9:30 a.m. on Sumatra Island. The well has a target total depth of 3,400 feet. Kruh 25 is one of the 3 new wells being drilled at Kruh Block this year, which are expected to average production of approximately 170 barrels of oil per day over the first year of production. IEC anticipates that each well will cost approximately $1.5 million to drill and complete. Based on the terms of IEC’s contract with the Indonesian government and an assumed oil price of $63.50/barrel, each well is expected to generate $3.33 million in net revenue in its first year, which is more than double the cost to drill each well.

Mr. Frank Ingriselli, IEC’s President, commented “We are excited that our first well at Kruh Block is almost at total depth (expected in the next few days). Our 3 new wells, which we have the cash to drill, have the potential to grow production and cash flow for our company by over 200%. This drilling campaign is targeted to significantly grow our cash flow as we seek to maximize returns on our investments and grow shareholder value.”

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, the anticipated results of IEC’s 2021 exploration and production activities at Kruh Block and the impact of such activities on IEC’s results of operations) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
[email protected]

SOURCE: Indonesia Energy Corporation Limited

Indonesia Energy Makes NYSE American Section 610(b) Public Announcement

 

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / May 18, 2021 / Indonesia Energy Corporation Limited (NYSE American:INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today announced that, as disclosed in its Annual Report on Form 20-F for the year ended December 31, 2020 (the “Form 20-F”) filed today, May 17, with the Securities and Exchange Commission, IEC’s audited financial statements for the year ended December 31, 2020 included in the Form 20-F contained an audit opinion from its independent registered public accounting firm which included a going concern qualification paragraph.

This announcement is made pursuant to NYSE American Company Guide Section 610(b), which requires separate public announcement of the receipt of an audit opinion containing a going concern paragraph. This announcement does not represent any change or amendment to IEC’s audited financial statements for the year ended December 31, 2020 or to the Form 20-F.

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
[email protected]

SOURCE: Indonesia Energy Corporation Limited

Indonesia Energy Makes NYSE American Section 610(b) Public Announcement

 

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / May 18, 2021 / Indonesia Energy Corporation Limited (NYSE American:INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today announced that, as disclosed in its Annual Report on Form 20-F for the year ended December 31, 2020 (the “Form 20-F”) filed today, May 17, with the Securities and Exchange Commission, IEC’s audited financial statements for the year ended December 31, 2020 included in the Form 20-F contained an audit opinion from its independent registered public accounting firm which included a going concern qualification paragraph.

This announcement is made pursuant to NYSE American Company Guide Section 610(b), which requires separate public announcement of the receipt of an audit opinion containing a going concern paragraph. This announcement does not represent any change or amendment to IEC’s audited financial statements for the year ended December 31, 2020 or to the Form 20-F.

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
[email protected]

SOURCE: Indonesia Energy Corporation Limited

Indonesia Energy Corporation to Host Investor Conference Call to Present Initial Results on its First New Well Drilled at Kruh Block

 

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / May 18, 2021 / Indonesia Energy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced that it will be hosting an investor conference call on Tuesday, June 8, 2021 in order to provide an update (including initial results) on the drilling and completion of IEC’s first new producing well at Kruh Block, called “Kruh 25”. IEC will provide specific dial-in details for the call in a separate communication.

As previously announced, this first well commenced drilling on Wednesday, April 21 at 9:30 a.m. on Sumatra Island. The well has a target total depth of 3,400 feet. Kruh 25 is one of the 3 new wells being drilled at Kruh Block this year, which are expected to average production of approximately 170 barrels of oil per day over the first year of production. IEC anticipates that each well will cost approximately $1.5 million to drill and complete. Based on the terms of IEC’s contract with the Indonesian government and an assumed oil price of $63.50/barrel, each well is expected to generate $3.33 million in net revenue in its first year, which is more than double the cost to drill each well.

Mr. Frank Ingriselli, IEC’s President, commented “We are excited that our first well at Kruh Block is almost at total depth (expected in the next few days). Our 3 new wells, which we have the cash to drill, have the potential to grow production and cash flow for our company by over 200%. This drilling campaign is targeted to significantly grow our cash flow as we seek to maximize returns on our investments and grow shareholder value.”

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, the anticipated results of IEC’s 2021 exploration and production activities at Kruh Block and the impact of such activities on IEC’s results of operations) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
[email protected]

SOURCE: Indonesia Energy Corporation Limited

image credit: Itiro (Flickr)

Harnessing Nuclear Power

 

Above our heads there is a powerful energy source created by nature, the Sun. Because the Sun is 93 million miles from us, only one-billionth of the Sun’s total energy output reaches the Earth, creating a world full of life. The energy that the Sun gives the Earth’s surface every second is more than the total electricity generated from all power plants in the world in the entire year of 2018.

Humans power machines mostly by harvesting energy: for example, harvesting the energy of falling water and converting it to electricity in hydroelectric power plants. To create energy, you have to convert matter to energy.

 

Chain Reactions

One way to do this is to split atoms, the basic building blocks of all matter in the universe. Do so controllably and you can produce a steady flow of energy. Lose control and you release a lot of energy all at once in a nuclear explosion.

The core of every atom, the nucleus, is made up of even smaller particles, protons and neutrons. The force holding the nucleus together stores a huge amount of energy. To obtain energy from the nucleus, scientists came up with a process of splitting a heavy atom into lighter atoms. Because the lighter atoms don’t need as much energy to hold the nucleus together as the heavy atoms, energy is released as heat or light. This process is called nuclear fission.

When one atom is split, a chain reaction starts: The split atom will trigger another atom to be split, and so on. To make the chain reaction controllable, scientists developed ways to slow down the splitting, such as absorbing some of the split particles.

 

Nuclear Power

Nuclear power plants harvest the energy released by splitting atoms controllably. The world’s largest nuclear power plant is the Kashiwazaki-Kariwa Nuclear Power Station in Japan. It consists of seven nuclear reactors, with a maximum capacity of about 8,000 megawatts. The world’s largest single nuclear reactor is a tie between the the two reactors at China’s Taishan Nuclear Power Plant. Each Taishan reactor has a capacity of 1,750 megawatts.

 

Nuclear power plants use nuclear reactions to heat water to produce steam that drives turbines that in turn drive generators that produce electricity. Image Credit, NRC

This amount of power is much smaller than uncontrolled nuclear reactions, such as atomic bombs. Nowadays, the energy output from detonating an atomic bomb is equivalent to the electricity the Kashiwazaki-Kariwa plant generates in half a year.

A downside of fission is nuclear waste. The split atoms are usually unstable and emit dangerous radiation. Nuclear waste needs to be stored properly for many years.

 

 

Fusion Near and Far

Scientists have also discovered another type of nuclear reaction, one that produces energy without nuclear waste. As two lighter atoms combine into a heavy atom, the lost mass converts into energy. This process is called nuclear fusion. Fusion is happening in the core of the Sun. In each second, the Sun burns about 600 million tons of hydrogen into about 596 million tons of helium, yielding the energy equivalent to trillions of atomic bombs.

 

Cutaway illustration shows what the core of a nuclear fusion reactor would look like. Image Credit: Argonne National Laboratory

It is very difficult to achieve nuclear fusion on Earth. Fusion happens only at extreme conditions, such as the very high temperatures and pressure of the Sun. Scientists have yet to effectively demonstrate controllable nuclear fusion that produces more energy than it consumes, but they are working hard to do so. One way is to shoot high-power lasers from different directions at a tiny speck of hydrogen isotopes.

For Now

Energy from nuclear fusion would be a promising energy solution in the future. But, we can still tap into the huge nuclear fusion reactor above our heads, the Sun. With the improving efficiency of solar energy, the more energy we capture, the less need there is to create it.

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic
experts.  Written by , Xuejian Wu Assistant Professor of Physics, Rutgers University – Newark

 

Suggested Reading:

Is the Future of Nuclear Energy Small Modular Reactors?	The Increasing Popularity of Uranium Investments

How Does Uranium Fit Into the ESG Landscape	The Case for Higher Uranium Prices

 

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Friday, May 14, 2021

Energy Fuels (UUUU)(EFR:CA)
Financial Results Lower on Limited Sales, Company Gearing Up For Rare Earth Push

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.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Energy Fuels reported a loss net to the company of $10.9 million ($0.08) versus a loss of $5.7 million ($0.05). With uranium and vanadium operations largely shut down until prices improve, the loss was not unexpected. Revenues were a modest $353,000, in line with previous quarters. The company has been recovering modest amounts of uranium from alternate feed materials and mixed rare earth elements processing and uranium inventories have grown to 690,800 pounds of uranium from 134,000 a year ago. The company has not entered into any long-term sales contracts and does not expect to do so in 2020.


Company is gearing up for a rare earth elements (REE) push.  Energy Fuels took advantage of a higher stock price to raise $12.99 million growing its cash position to $44 million from $24 million at the end of the year. In a recent presentation to analyst at another firm, management indicated it would take $2 million to convert the White Mesa mill to produce REE carbonate. It would take another $4-5 …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*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.