Energy Fuels releases production update following Nichols Ranch acquisition

Energy Fuels (EF) has released a report detailing the production and development activity following the company's acquisition of the Nichols Ranch in situ recovery (ISR) Uranium Project, the company announced on Monday.

This project is part of the larger acquisition of the Uranerz Corp. that took place in June. The company intends to construct a sixth header house at the facility to enhance productivity. The company was successful in building a fifth header house; since EF took over ownership of the facility, output has increased by 33 percent at the ranch and by 25 percent in overall uranium extraction.

"We are very pleased with the operational results currently being observed at the Nichols Ranch Project," Energy Fuels CEO and President Stephen Antony said. " At this time, our fifth header house and the associated wellfield, is on-budget, on-schedule and well on its way to becoming a successful uranium producer for Energy Fuels. We are similarly optimistic about the future performance of the sixth header house we have planned for later this year."

The construction of the sixth house and an additional 60 production and injection wells are expected to begin later this year. The Nichols Ranch began its operations in April of 2014.