Energy Fuels' Strategic Advantages for REE Production
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2023 Guidance + Focus
560,000 lbs. of total expected U3Og sales in 2023 at a weighted-average realized sales price of $59.42 per lb.
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Completed sale of 300,000 lbs. in January 2023 to U.S. Uranium Reserve for $61.57/lb. ($18.5M)
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Completed sale of 80,000 lbs. in May 2023 to a major U.S. utility for $54.19/lb. ($4.3M)
Completed sale of 180,000 lbs. in September 2023 to a major U.S. utility for $58.18/lb ($10.5M).
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Continue preparing uranium mines for production; expect to place 1 or more into production in 2023/24
Seek additional long-term uranium supply agreements at increasingly higher price levels
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2023 Production focused on REE with no finished uranium or vanadium production expected in 2023
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Process approximately 600 MT of monazite & recover approximately 150 - 170 MT of TREO in 2023
Expect to process an additional 400-700 MT of monazite in early-2024 to produce NdPr upon commissioning of Phase 1 REE Separation
Circuit
Continue development of RE separation circuit at White Mesa Mill
• Expected capacity to produce 800 - 1,000 MT NdPr oxide per year (~$25 million investment) in early-2024
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Seek REE offtakes
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Advance Bahia Project
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Perform additional drilling; engage consultants to prepare S-K 1300 Initial Assessment & NI 43-101 Technical Report
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