Energy Fuels Completes Acquisition of Australian Strategic Materials

(TSX:EFR) Energy Fuels Inc. announced it has completed its acquisition of Australian Strategic Materials Limited (ASM), a leading producer of REE metals and alloys. The acquisition adds ASM's operating Korean Metals Plant in Ochang, South Korea, providing Energy Fuels with commercial scale metal and alloy production capacity. ASM's Dubbo project in Australia brings a long-life and strategically important resource of rare earths and other critical minerals to Energy Fuels' portfolio. The acquisition of ASM adds 1,300 tonnes per year of existing neodymium-iron-boron (NdFeB) alloy production capacity at the Korean Metals Plant. The Korean Metals Plant is currently being expanded to increase NdFeB alloy capacity to 3,600 tonnes per year and is expected to be commissioned as early as the end of 2026. The expansion potentially represents enough NdFeB alloy for more than 1 million EVs per year. ASM's shares have been delisted from the Australian Securities Exchange (ASX).

"Heavy" Rare Earths Produced by Energy Fuels Qualified for Use by Largest Permanent Magnet Manufacturer in Japan

(TSX:EFR) Energy Fuels Inc. announced that its terbium (Tb) oxide has successfully passed all qualifications for use by one of the world's largest manufacturers of rare earth permanent magnets outside China. The Japan-based manufacturer has informed Energy Fuels that the Tb oxide produced at its White Mesa Mill in Utah meets their specifications and is approved for use in commercial REPM production with no further qualification or validation required. Terbium oxide currently commands a market price of approximately $5.5 million per tonne according to Benchmark Mineral Intelligence (CIF Europe). Energy Fuels previously announced the qualification of its neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides for the manufacture of rare earth permanent magnets. Upon closing of the pending acquisitions of Australian Strategic Materials (ASM) and Vacuumschmelze (VAC), Energy Fuels expects to become the leading vertically integrated "mine-to-rare earth permanent magnet" producer in the U.S. and Europe. The NdPr, Tb and Dy oxides produced by the Company at the White Mesa Mill will be key components of the Company's supply chain. Energy Fuels owns several producing and development uranium assets in the western United States and three heavy mineral sands/rare earths projects: the Vara Mada Project in Madagascar, Bahia Project in Brazil, and Donald Project in Australia (through a joint venture with Astron Limited).

Energy Fuels' Acquisition of Australian Strategic Materials Wins Shareholder Approval

(TSX: EFR) Energy Fuels Inc. announced that ASM Securityholders overwhelmingly voted in favor of the transaction at the Scheme Meetings held in Perth, Australia on August 12, 2026. Under the Share Scheme, each ASM shareholder is entitled to receive 0.053 new Energy Fuels CHESS Depositary Interests plus A$0.13 cash for each ASM share held at the Scheme Record Date. Under the Option Scheme, ASM option holders are entitled to receive A$0.50 cash per option. 98.23% of the votes cast by ASM shareholders were in favor of the Share Scheme, and 83.62% of ASM shareholders present and voting (in person or by proxy) voted in favor. The Option Scheme was approved by 99.97% of the votes cast, and 87.78% of the ASM Optionholders present and voting at the Option Scheme Meeting (in person or by proxy) were in favor of the Option Scheme Resolution. ASM will apply to the Federal Court of Australia for approval of the Schemes, which is scheduled to occur on August 18, 2026. Implementation of the Schemes, on which the Scheme Consideration will be provided to ASM securityholders, is expected to occur on August 28, 2026.

Energy Fuels Announces Q2-2026 Results

(TSX: EFR) Energy Fuels Inc. reported its financial and operational results for the quarter ended June 30, 2026, including a net loss of $33.6 million ($0.13 per share) and total revenues of $25,108,000. The company entered into a definitive agreement to acquire 100% of Vacuumschmelze GmbH & Co. KG, Ara VAC TopCo US LLC and their subsidiaries for approximately $1.9 billion in cash-and-stock consideration, and continued to advance its planned acquisition of Australian Strategic Materials Ltd. Energy Fuels mined 315,000 pounds of U3O8 during Q2 2026, produced 865,000 pounds of finished U3O8 in Q2, and sold 310,000 pounds at a weighted average realized price of $80.48 per pound for total uranium revenues of $25.0 million. The company had $996.0 million of working capital at quarter-end, including $58.4 million of cash and cash equivalents and $878.3 million of marketable securities. Construction began on an expansion of the White Mesa Mill in Utah to enable large-scale production of heavy rare earth oxides, with completion of the Tb and Dy circuits expected by the end of 2027 and Sm, Eu, and Gd circuits by the end of 2028. The company projects that its planned acquisitions and expansions will strengthen its position as a vertically integrated global critical materials company and provide a long-term source of monazite feedstock from the Donald Project joint venture in Australia.

Commercial-Scale 'Heavy' Rare Earth Plant Now Under Construction in Utah

(TSX: EFR) Energy Fuels Inc. announced that construction has begun on an expansion of its White Mesa Mill in Utah to enable large-scale production of heavy rare earth oxides, with a total capital expenditure estimated at approximately $104 million. The Mill currently has the commercial capacity to produce up to 1,000 tonnes per annum (tpa) of separated NdPr oxide, and the planned expansion is designed to add capacity for up to approximately 20 tpa of terbium (Tb), 120 tpa of dysprosium (Dy), 140 tpa of samarium (Sm), 20 tpa of europium (Eu), and 140 tpa of gadolinium (Gd) oxides. The expansion is expected to be completed by the end of 2027 for Tb and Dy circuits and by the end of 2028 for Sm, Eu, and Gd circuits. Subject to a positive final investment decision (anticipated in Q3 2026), the Donald Project in Australia is expected to produce approximately 8,500 to 9,500 tonnes of monazite concentrate annually beginning in 2028. Energy Fuels plans to further expand the Mill in 2029 to increase overall capacity to 6,294 tpa NdPr, 80 tpa Tb, and 288 tpa Dy oxides. The company projects that these expansions will support a total integrated mine-to-magnet supply chain capable of producing 15,700 tonnes of REPMs per year in the coming years. The equity component of the expansion will be covered out of the Company's working capital, which totaled approximately $0.96 billion as of March 31, 2026.

Energy Fuels Announces Q1-2026 Results

Energy Fuels Inc. (TSX:EFR) reported its Q1 2026 financial and operational results, highlighting a net loss of $10.8 million, a significant improvement from the prior year's Q1 net loss of $26.3 million. The company generated $8.3 million in operating cash flow and reported $956.6 million in working capital as of March 31, 2026. Energy Fuels sold 510,000 pounds of U3O8 for $35.7 million in uranium revenues and produced 790,000 pounds of finished U3O8 in Q1 2026. The company announced the planned acquisition of Australian Strategic Materials and advanced its rare earth and mineral sands projects in Australia and Madagascar. These results and developments reinforce Energy Fuels' position as a vertically integrated critical materials company with robust liquidity and growth prospects.

ENERGY FUELS INC