Energy Fuels reports 2014 profit of $15.97 million

Energy Fuels recently presented its financial results ending Dec. 31, reporting $46.25 million of total revenue and a gross profit of $15.97 million from mining and milling operations.

The company also reported 800,000 pounds of U3O8 sales at an average realized price of $57.19 per pound and 942,000 pounds of U3O8 production, along with a strong balance sheet including $38.60 million of working capital.

Energy Fuels also improved uranium market conditions -- with spot prices up nearly 40 percent since mid-2014 -- through the proposed acquisition of Uranerz Energy Corp., which is expected to create the leading uranium mining company focused on the United States.

"In 2014, we successfully executed our business plan, we strengthened our balance sheet, we increased our gross profitability and we exceeded the annual production and operations guidance from our last annual financial statements," Energy Fuels CEO and President Stephen Antony said.

The annual report may be viewed at www.sec.gov/edgar.shtml and on the company’s website at www.energyfuels.com.

Organizations in this story

Energy Fuels, Inc. 2 Toronto Street, Toronto, Ontario M5C 2B6

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