Energy Fuels Stock (AMEX:UUUU), Trade Ideas

Energy Fuels

Energy Fuels Inc is a United States-based critical minerals company. The Company mines uranium and produces natural uranium concentrates that are sold to nuclear utilities for the production of carbon-free nuclear energy. It holds two of America's key uranium production centers: The White Mesa Mill in Utah, and the Nichols Ranch ISR Facility in Wyoming. Its producing White Mesa Mill is the only conventional uranium mill in the United States and has a licensed capacity of approximately 8 million pounds of U3O8 per year. Nichols Ranch is in production and has a licensed capacity of approximately 2 million pounds of U3O8 per year. It also produces vanadium. Energy Fuels also owns several licensed and developed uranium and vanadium mines on standby and other projects in development.

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Energy Fuels, a Lakewood, Colorado-based uranium and critical minerals producer, agreed to acquire Australian junior miner Base Resources.

Energy Fuels Secures Critical Mineral Supply Chain Via $240M Base Resources Deal

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Why Vaxxinity Shares Are Trading Lower By Around 55%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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North American uranium miners are in a sweet spot due to US push to reduce dependency on Russian uranium and nuclear industry&#39;s renaissance.

Uranium Execs Talk High Prices, Tout Projects As Long Downturn Comes To An End: &#39;The US Government Will Be Buying&#39;

Energy Fuels Inc Ordinary Shares (Canada)

Energy Fuels Inc

Energy Fuels (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#AMEX">UUUU</a>), a Lakewood, Colorado-based uranium and critical minerals producer, agreed to acquire Australian junior miner Base Resources (OTCPK: BSRUF).
The transaction, announced Sunday, April 21, is valued at $240 million. 
&#8220;The acquisition of Base Resources and the Toliara project represents a monumental leap forward for the company as we continue to execute on a truly revolutionary REE, uranium, and critical mineral combined strategy,&#8221; <a href="https://www.energyfuels.com/2024-04-21-Energy-Fuels-Announces-Agreement-for-Transformational-Acquisition-of-Base-Resources,-Creating-a-Global-Leader-in-Critical-Minerals-Production-with-a-Focus-on-Uranium,-Rare-Earth-Elements-and-Heavy-Mineral-Sands">said</a> Energy Fuels CEO Mark Chalmers, explaining that the company has been innovating new methods to produce critical minerals, leveraging its uranium processing expertise and infrastructure to develop a U.S.-centric rare earth oxide (REE) supply chain.
The key asset in this acquisition is the Toliara project in southwest Madagascar. 
This project is a large-scale mineral deposit. It&#8217;s rich in ilmenite, zircon and monazite, a key source of rare earth elements (REE). These elements are crucial components in electric vehicles, wind turbines, and other clean energy applications. It is also used in national defense sectors.
Once operational, the monazite from Toliara will serve as a significant source of feedstock for Energy Fuels&#8217; White Mesa mill in Utah. It will provide a projected average of 21,800 tons of rare earth-bearing monazite per year at a cost expected to be competitive with other global REE producers, including those in China.
See Also: <a href="https://www.benzinga.com/m-a/24/04/38380999/exclusive-why-this-uranium-bull-market-is-different-weve-really-got-to-start-developing-mines-says-m">EXCLUSIVE <a href="https://www.benzinga.com/m-a/24/04/38380999/exclusive-why-this-uranium-bull-market-is-different-weve-really-got-to-start-developing-mines-says-m">—</a> Why This Uranium Bull Market Is Different — &#8216;We&#8217;ve Really Got To Start Developing Mines,&#8217; Says Madison Metals CEO</a>
The Base Resources acquisition comes as uranium trades at multi-year highs, reaching $106 per pound in February. This trend has driven the <a href="https://www.benzinga.com/m-a/24/03/37459629/uranium-surge-revives-old-mines-sparks-mergers-across-sector">activation of dormant assets</a>. It allowed producers like Energy Fuels to capitalize on the resurging demand for nuclear power.
Base Resources shareholders will receive 0.0260 of an Energy Fuels common share plus a dividend of $0.042 for each share held, totaling roughly 20 cents per share. This premium represents a 188% increase from Base Resources&#8217; last closing price and a 173% premium to the 20-day volume-weighted average price (VWAP) of Base Resources shares.
The transaction is expected to close in the third quarter of 2024. Regulatory approval is pending.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Now Read: <a href="https://www.benzinga.com/news/24/04/38390383/copper-prices-approach-2-year-highs-whats-behind-analysts-12-000-price-prediction-for-2026">Copper Prices Approach 2-Year Highs: What&#8217;s Behind Analyst&#8217;s $12,000 Price Prediction For 2026?</a>
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Shares of Vaxxinity, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VAXX#NASDAQ">VAXX</a>) fell sharply during Monday's session after the company announced its intention to voluntarily delist and deregister its Class A common stock.
Vaxxinity shares dipped 54.8% to $0.2150 on Monday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Matterport, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTTR#NASDAQ">MTTR</a>) shares jumped 184% to $4.93. CoStar Group announced plans to acquire Matterport in a cash and stock transaction valued at $5.50 per share reflecting an estimated $1.6 billion value.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) climbed 126% to $1.67 after the company signed a non-binding term sheet for a potential reverse merger with European Wellness Investment Holdings.</li>
<li>Moolec Science SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLEC#NASDAQ">MLEC</a>) shares climbed 88.4% to $2.5950 after the company announced that it received USDA approval for plant-grown animal proteins.</li>
<li>Tungray Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRSG#NASDAQ">TRSG</a>) gained 48.8% to $5.95 after surging around 49% on Friday. The company priced its IPO at $4 per share.</li>
<li>SuperCom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCB#NASDAQ">SPCB</a>) shares gained 46% to $0.3212 after the company reported better-than-expected fourth-quarter results.</li>
<li>AGBA Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGBA#NASDAQ">AGBA</a>) climbed 42% to $1.7742.</li>
<li>Edible Garden AG Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDBL#NASDAQ">EDBL</a>) jumped 39% to $5.23 after the company announced it regained compliance with the Nasdaq bid price requirement.</li>
<li>POET Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POET#NASDAQ">POET</a>) jumped 29.8% to $1.35.</li>
<li>Graphjet Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTI#NASDAQ">GTI</a>) climbed 27.6% to $8.61. Graphjet Technology&#8217;s Tham Choi Kuen, CFO, announced the decision to resign due to health reasons, effective immediately.</li>
<li>Assure Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONM#NASDAQ">IONM</a>) rose 25% to $0.55 after dipping more than 30% on Friday.</li>
<li>Smart for Life, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMFL#NASDAQ">SMFL</a>) climbed 23% to $4.13.</li>
<li>Jaguar Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAGX#NASDAQ">JAGX</a>) gained 23% to $0.1936.</li>
<li>WANG &amp; LEE GROUP, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WLGS#NASDAQ">WLGS</a>) climbed 21.7% to $0.73. Wang &amp; Lee Group, last week, reported a year-over-year increase in FY23 financial results.</li>
<li>Onfolio Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONFO#NASDAQ">ONFO</a>) climbed 20.8% to $0.52.</li>
<li>Complete Solaria, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSLR#NASDAQ">CSLR</a>) shares gained 17.4% to $0.5281 amid recent volatility in the stock. Chairman T.J. Rodgers said he converted $5 million of his CSLR debt to equity as an indication of his belief in the company.</li>
<li>NKGen Biotech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKGN#NASDAQ">NKGN</a>) climbed 14.8% to $1.2750.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) gained 11.2% to $1,305.56 amid a rise in Bitcoin.</li>
<li>Sea Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) gained 10.4% to $60.79 after B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $62 to $70.</li>
<li>Ingevity Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGVT#NYSE">NGVT</a>) rose 8.7% to $48.30. Jefferies analyst Daniel Rizzo upgraded Ingevity from Hold to Buy and raised the price target from $52 to $62.</li>
<li>Riot Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) rose 7.9% to $9.85 amid a rise in Bitcoin.</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) gained 6.5% to $224.72 amid a rise in Bitcoin.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Hepion Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HEPA#NASDAQ">HEPA</a>) fell 40.4% to $1.2515 after the company announced that it began wind-down activities in its Phase 2b &#8220;ASCEND-NASH Trial.</li>
<li>Akso Health Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AHG#NASDAQ">AHG</a>) fell 26.2% to $0.7001.</li>
<li>Warrantee Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WRNT#NASDAQ">WRNT</a>) fell 24.2% to $0.3223. Warrantee announced receipt of Nasdaq delisting determination and plan to appeal.</li>
<li>Bio-Path Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTH#NASDAQ">BPTH</a>) fell 22.3% to $3.3350. Bio-Path recently announced closing of $1.2 million registered direct offering priced at-the-market under Nasdaq rules.</li>
<li>Inhibikase Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IKT#NASDAQ">IKT</a>) dipped 19.5% to $1.64.</li>
<li>Jin Medical International Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZJYL#NASDAQ">ZJYL</a>) fell 18.8% to $3.1502</li>
<li>Indonesia Energy Corporation Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INDO#NYSE">INDO</a>) shares declined 15.4% to $4.25 after gaining 23% on Friday. Indonesia Energy, last month, filed for mixed shelf offering of up to $50 million.</li>
<li>Virgin Galactic Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NYSE">SPCE</a>) fell 14% to $0.7357. Virgin Galactic recently announced it is considering a reverse stock split with a range between 1-for-2 and 1-for-20.</li>
<li>Sunshine Biopharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFM#NASDAQ">SBFM</a>) shares fell 13.7% to $1.5250 after dipping 47% on Friday. Sunshine Biopharma's Nora Pharma received Health Canada approval for Niopeg.</li>
<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) fell 11.9% to $24.01. Mobile-health Network Solutions said it sees 1H revenue of $6 million versus $3 million year over uear.</li>
<li>Connexa Sports Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYAI#NASDAQ">YYAI</a>) fell 10.9% to $1.2515.</li>
<li>AgriFORCE Growing Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGRI#NASDAQ">AGRI</a>) declined 9.7% to $0.1480 after gaining 9% on Friday. AgriForce Growing Systems was granted Australian patent number 2018215090 titled &#8220;High Fiber, High Protein, Low Carbohydrate Flour, Sweetened Liquid, Sweeteners, Cereals, And Methods For Production Thereof.&#8221;</li>
<li>Energy Fuels Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#NYSE">UUUU</a>) declined 9.7% to $5.26. Energy Fuels entered into definitive scheme implementation deed with Base Resources for the acquisition of all issued shares for A$375 million.</li>
<li>Tellurian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NASDAQ">TELL</a>) dipped 9.6% to $0.4478.</li>
<li>Applied Optoelectronics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>) fell 9.5% to $10.96. Applied Optoelectronics is expected to release financial results for its first quarter ended March 31, 2024 on May 9, 2024.</li>
<li>FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) fell 9.3% to $0.8023.</li>
<li>Mingteng International Corporation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTEN#NASDAQ">MTEN</a>) fell 6.5% to $3.45 after gaining over 5% on Friday. Mingteng International, last week, priced its IPO at $4.00 per share.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) fell 6.2% to $24.74. Shares of Chinese EV stocks traded lower after Tesla reduced vehicle prices in China.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 3.2% to $142.24 after the company reduced vehicle prices in the US, Germany and China.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38355230/how-to-earn-500-a-month-from-azz-stock-ahead-of-q4-earnings">How To Earn $500 A Month From AZZ Stock Ahead Of Q4 Earnings</a>

Why Vaxxinity Shares Are Trading Lower By Around 55%? Here Are Other Stocks Moving In Monday's Mid-Day Session

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Energy Fuels shares are trading lower after the company announced it signed a definitive Scheme Implementation Deed with Base Resources for the acquisition of all issued shares for roughly A$375 million.

<ul>
<li>The acquisition will include Base Resources&#39;&nbsp;100%-owned advanced, world-class Toliara heavy mineral sands project in&nbsp;Madagascar&nbsp;(&quot;Toliara&quot; or the &quot;Project&quot;), which includes a long-life, high-value and low cost monazite stream, produced as a byproduct of primary titanium and zirconium production.</li>
<li>Toliara monazite production to be processed at Energy Fuels&#39;&nbsp;100%-owned White Mesa Mill (the &quot;Mill&quot;) into separated rare earth element (&quot;REE&quot;) oxides, at low capital and operating cost, setting a new paradigm for low-cost, globally competitive U.S.-centered rare earth oxide production.</li>
<li>The transaction will also secure Base Resources&#39; mine development and operations team, who have a successful track-record of designing, constructing, and profitably operating a world-class heavy mineral sands operation in&nbsp;Africa.</li>
<li>Energy Fuels is currently engaged in high-level discussions with various U.S. government agencies and other offices who provide support for critical mineral projects, domestically and abroad.</li>
<li>The transaction is complementary to and further strengthens Energy Fuels&#39; U.S.-leading uranium production capability and plans.</li>
<li>Senator&nbsp;Mike Lee, the Senior Senator from&nbsp;Utah&nbsp;and a member of the Senate Committee on Energy and Natural Resources, stated: &quot;I&#39;m grateful to Energy Fuels for their work to ensure&nbsp;the United States&nbsp;has a domestic critical mineral source. The acquisition of Base Resources and the Toliara project will only further their capacity and ability to produce minerals needed for defense, technology, and everyday life.&quot;</li>
</ul>

Reported Sunday, Energy Fuels Inks Definitive Scheme Implementation Deed With Base Resources For The Acquisition Of All Issued Shares For ~A$375M

B. Riley Securities analyst Matthew Key initiates coverage on Energy Fuels (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#AMEX">UUUU</a>) with a Buy rating and announces Price Target of $9.

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B. Riley Securities Initiates Coverage On Energy Fuels with Buy Rating, Announces Price Target of $9

TORONTO—Two trends are converging to put North American <a href="https://www.benzinga.com/markets/commodities/24/03/37895748/uranium-prices-drop-as-analysts-set-new-market-expectations-major-producers-issue-warnings">uranium miners</a> in a sweet spot.
The first is the push from United States politicians to loosen America's dependency on uranium from Russia after it invaded Ukraine. The second is the renaissance the nuclear industry is experiencing amid the push to decarbonize electricity generation. That all comes against a backdrop of underinvestment among uranium producers for years, as nuclear power fell out of favor after a power plant disaster in Japan.
Even with a recent pullback from a 16-year high hit earlier this year, uranium prices are still nearly three times what they were three years ago.
Uranium is an environmentally friendly source of electricity as the world shifts to electric vehicles, the electrification of many industries and emerging artificial intelligence applications,&nbsp;Patricia Mohr, commodity market specialist with&nbsp;Mohr &amp; Co. Critical Metals Inc.&nbsp;said during <a href="https://www.youtube.com/watch?v=FLHHqcp7E3o">a Benzinga virtual event</a> Tuesday.
"Nuclear is a very good option," she said.
In response to expected demand, uranium miners including Energy Fuels Inc. (NYSEAMERICAN: UUUU), Denison Mines Corp. (NYSEAMERICAN: DNN), Uranium Energy Corp. (NYSEAMERICAN: UEC), Ur-Energy Inc. (NYSEAMERICAN: URG) and IsoEnergy Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ISENF#OTC">ISENF</a>)&nbsp;are ramping up production capacity.
Also read: <a href="https://www.benzinga.com/government/24/03/37680603/ur-energy-to-develop-wyoming-uranium-mine-as-prices-soar-sales-contracts-grow">Ur-Energy To Develop Wyoming Uranium Mine As Prices Soar, Sales Contracts Grow</a>
While the announcements may put a damper on near-term uranium pricing, many producers will still be able to benefit from selling more volumes, Mohr said.
With those tailwinds, which have helped push uranium prices sharply higher, uranium producers gathered in Toronto last month during the Prospectors &amp; Developers Association of Canada conference and trade show to talk about their projects and outlook for the radioactive metal.&nbsp;
Global Atomic Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLATF#OTC">GLATF</a>)
One of the factors helping keep uranium prices elevated is a worry that there isn't enough long-term supply out there to meet future demand.
"Exploring, finding and developing uranium projects takes a long time," Stephen Roman, CEO of Toronto-based Global Atomic, said during a presentation at the trade show.
The company is working to advance its Dasa project in the African nation of Niger, which according to the World Nuclear Association has the highest-grade uranium ores of any African country and supplies about 5% of the world's mined output of the metal.
"This is one of the top projects in Africa," Roman said.
The deposit, which is located about 65 miles southeast of the mining town of Arlit, is in an area that has been producing uranium for more than half a century.
"All the infrastructure is there, the power the water, etc.," Roman said. "This mine will be very profitable. This is going to be a mine that is going to run for 40 years or more."
Global Atomic expects its Dasa mine to be completed by June and has offtake agreements in place, including one with a large European utility, he said.&nbsp;
Energy Fuels Inc. (NYSEAMERICAN: UUUU)
Through March, this Colorado-based company sold 300,000 pounds of uranium, and it is restarting mines that were shuttered during times of lower uranium prices.
"We're back in mining mode," CEO Mark Chalmers said in his presentation.
After the company mines the ore, it will stockpile it at its mill in Utah, but the question remains open when it will start processing that ore.&nbsp;
Energy Fuels has also been diversifying into vanadium, which is used in the steel industry, and rare earths element production. The United States has designated vanadium and rare earth elements as critical minerals.
&#8220;We are creating a profitable, high-margin critical mineral company on the back of the uranium business," Chalmers said. "Uranium will always be our core position."
Uranium Energy Corp. (NYSEAMERICAN: UEC)
This Texas-based company is advancing projects in Canada, Wyoming and Texas.&nbsp;
CEO Amir Adnani said in his presentation that the company will restart Wyoming production by August.
"We see an incredible opportunity in the U.S. from utility demand," he said. "There's a premium on U.S.-origin uranium," he said. "The U.S. government will be buying uranium."
enCore Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EU#NASDAQ">EU</a>)
This Texas-based uranium company in early March announced the first shipment from its restarted Rosita plant in South Texas and a fifth long-term supply contract.&nbsp;
The company has sales contracts with four U.S. utilities for 4.25 million pounds of uranium through 2032, but according to executive chairman&nbsp;William Sheriff in his presentation, this only represents about 30% of its planned production over that time.&nbsp;
The company is working on restarting its Alta Mesa processing plant, also in South Texas, by the second quarter of this year.
"We&#8217;re quite bullish over the next few decades," Sheriff said.
Now Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38143157/mining-executives-weigh-in-on-gold-price-financing-projects-were-definitely-glad">Mining Executives Weigh In On Gold Prices, Financing, Projects: &#8216;We&#8217;re Definitely Glad&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
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Uranium Execs Talk High Prices, Tout Projects As Long Downturn Comes To An End: 'The US Government Will Be Buying'

The global shift towards clean energy sources has intensified the search for reliable and scalable alternatives to fossil fuels. While the solar and wind power sectors&nbsp;have captured significant attention, a renewed interest in nuclear energy is emerging. Nuclear power, with its potential for consistent baseload generation, small footprint (particularly with newer technologies), and improving safety profile, holds the potential to outperform traditional renewables in specific contexts.
Could nuclear energy stocks be the key to outperforming the broader renewable energy market in the long run?&nbsp;
<h2>Unleashing the Power of the Atom: Uranium Miners</h2>
Uranium, the foundational element of nuclear power, will become an increasingly valuable commodity in the coming years. If the push for clean energy fuels a nuclear resurgence, uranium mining companies will be positioned at the forefront of this transition. Let&#39;s look at some of the key players in this subsector of the mining sector:
<h3>Cameco Corporation&nbsp;</h3>
Cameco Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ccj#NYSE">CCJ</a>), a global giant in uranium production, stands out for its extensive reserves and established track record in the industry. Ranked among the world&#39;s leading uranium producers, Cameco&#39;s expertise and substantial reserves in Canada make it a significant player in the global uranium market.
<h3>Denison Mines</h3>
Denison Mines&nbsp;(AMEX:DNN)&nbsp;is committed to environmentally conscious mining operations. The company is actively involved in exploration and development projects within the Athabasca Basin region of Canada, which is renowned for its abundance of uranium resources. Denison prioritizes environmentally responsible mining practices and holds a diverse portfolio of projects, including exploration and development assets in this uranium-rich region of Canada.
<h3>Energy Fuels</h3>
Energy Fuels (AMEX:UUUU), a US-based mining company, has diversified operations that encompass uranium, vanadium, and rare earth element recovery. This multifaceted approach positions Energy Fuels to capitalize on various critical material needs. Notably, beyond uranium, Energy Fuels engages in the recovery of vanadium and rare earth elements. This unique combination makes them an intriguing player as demand for these materials evolves.
<h3>NexGen Energy</h3>
NexGen Energy&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nxe#NYSE">NXE</a>) claim to fame is the high-grade Arrow Deposit, a substantial uranium resource located in Canada&#39;s Athabasca Basin. The quality of this deposit and its projected long mine life make NexGen a company to watch. Additionally, NexGen boasts a relatively low expected production cost, which could improve its profitability if uranium prices surge. The company is also exploring the possibility of using innovative in-situ recovery (ISR) mining techniques, further differentiating its approach.
Uranium miners face unique risks, such as fluctuating commodity prices and the potential for regulatory changes that could impact their operations. However, if the anticipated surge in nuclear power demand materializes, these companies could potentially deliver substantial returns for investors.
<h2>The Next Generation: Reactor Developers</h2>
While traditional nuclear power plants have proven their capabilities, they often come with large capital costs, lengthy construction timelines, and a degree of public anxiety. A wave of innovative companies are tackling these challenges by developing new reactor technologies that promise greater safety, scalability, and potential cost advantages. Let&#39;s examine a few key players in this space:
<h3>NuScale Power&nbsp;</h3>
NuScale Power (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/smr#NYSE">SMR</a>) pioneered small modular reactor (SMR) technology. Unlike traditional plants, SMRs are designed to be smaller, factory-built units that can be deployed more quickly and potentially with lower upfront costs. NuScale aims to make nuclear power more accessible for a broader range of electricity needs, potentially opening new markets for nuclear energy.
<h3>Centrus Energy&nbsp;</h3>
Centrus Energy&nbsp;(AMEX:LEU) isn&#39;t solely focused on reactor design but plays a crucial role in the nuclear fuel cycle. The company is developing advanced nuclear fuels explicitly designed for next-generation reactors. They&#39;ve also forged a significant partnership with TerraPower, a venture-backed by Bill Gates, to advance new reactor technologies. This partnership highlights Centrus&#39; importance in the broader scheme of nuclear innovation.
<h3>BWX Technologies&nbsp;</h3>
BWX Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bwxt#NYSE">BWXT</a>) has a strong legacy of providing components and services for the existing nuclear power industry. However, it is also looking ahead by actively developing microreactors. These ultra-small reactors hold the potential to provide energy in remote areas or to power specific applications like military bases. BWX&#39;s diversification across both current and future nuclear needs makes it a compelling company to add to your watchlist.
With their advancements, reactor developers have the potential to transform the nuclear power technology landscape. As they strive to make nuclear energy safer, more adaptable to diverse energy demands and scalable, these companies spearhead innovation. Although technological challenges remain, the triumphs of these pioneers could significantly expand nuclear energy&#39;s role in a future powered by clean energy.
<h2>Established Utilities with a Nuclear Advantage</h2>
Traditional energy utilities already heavily invested in nuclear power offer investors a unique way to participate in the sector. While new technologies are exciting, established utility companies with operational nuclear fleets provide exposure to a more established segment of the industry. Let&#39;s take a closer look at two major players:
<h3>Duke Energy&nbsp;</h3>
Duke Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/duk#NYSE">DUK</a>) is a leading US utility company that boasts a substantial nuclear power fleet. This nuclear component complements its diverse portfolio, which also includes renewable energy sources and natural gas generation. For investors, Duke Energy offers a balance between the potential upside of the nuclear sector and the stability of a large, diversified utility company.
<h3>Exelon Corporation&nbsp;</h3>
Exelon Corporation&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/exc#NASDAQ">EXC</a>) holds a dominant position as one of the largest operators of nuclear power plants in the United States. Unlike Duke, Exelon&#39;s power generation relies more heavily on nuclear facilities. This makes Exelon a more direct play on potential legislative or market changes that favor the nuclear energy industry and could lead to increased profitability for the company&#39;s nuclear segment.
Established utilities with significant nuclear operations provide a different investment opportunity than pure-play uranium miners or cutting-edge reactor developers. These utilities offer a way to benefit from a potential nuclear resurgence while also often maintaining a broader portfolio of energy assets that can provide some measure of stability. Investors will need to assess their risk tolerance and the role they envision nuclear stocks playing within their overall portfolio when considering companies like Duke Energy and Exelon.
<h2>Diversifying Nuclear Investment: The Role of ETFs</h2>
Exchange-traded funds (ETFs) provide investors a streamlined way to gain exposure to the nuclear energy sector without directly investing in individual companies. This basket approach can mitigate some risks associated with single stocks while allowing investors to benefit from the sector&#39;s potential growth. Here&#39;s a breakdown of two prominent ETFs in the nuclear space:
<h3>Global X Uranium ETF&nbsp;</h3>
The Global X Uranium ETF (ARCA:URA) is specifically designed to track companies involved in the mining and producing of uranium, along with businesses engaged in related stages of the nuclear fuel cycle. This ETF offers investors a more targeted way to bet on the rising demand for uranium if the resurgence of nuclear power comes to fruition.
<h3>VanEck Uranium+Nuclear Energy ETF</h3>
The VanEck Uranium+Nuclear Energy ETF (ARCA:NLR) adopts a slightly broader approach than the Global X Uranium ETF. While still capturing exposure to uranium-related companies, this ETF also includes companies engaged in constructing and operating nuclear power plants. This expanded focus could benefit if both uranium demand and positive sentiment towards atomic power generation increase in tandem.
Nuclear energy ETFs present an appealing option for investors seeking a convenient and diversified approach to the industry. These ETFs eliminate the need for extensive research into individual companies but still give investors access to the potential growth trajectory of the nuclear sector. Investors must carefully consider the specific holdings and management fees of any exchange-traded fund before investing.
<h2>Policy and Regulation: The X-Factor</h2>
Government policies and regulations are pivotal in shaping the nuclear energy landscape. Favorable policies, like tax incentives or streamlined development processes, could ignite the sector, while restrictive regulations could hamper its growth. Investors need to keep a close eye on the evolving regulatory environment, as policies can greatly influence the prospects for nuclear-related investments.
<h2>Nuclear Power in A Global Context</h2>
Developing economies with booming energy needs could turn to nuclear power as a solution to reduce reliance on fossil fuels and address growing energy security concerns. China and India, for instance, already have ambitious nuclear power expansion plans. This global trend underscores the long-term potential for the nuclear sector and its associated stocks.
<h2>Challenges and Considerations: The Other Side of the Equation</h2>
Acknowledging the challenges and potential risks associated with nuclear power before making any investment decisions is essential. These include:
<ul>
<li>Waste Disposal: The safe and long-term storage of radioactive waste remains a contentious issue. While technological advancements offer potential solutions, this remains a concern for investors and the communities surrounding nuclear plants.</li>
<li>Risk of Accidents: Though safety standards have significantly improved, the potential for accidents, however rare, can generate public fear and negatively impact nuclear investments.</li>
<li>Long Development Timelines: Constructing new nuclear power plants can be lengthy and capital-intensive, making investment returns less immediate than other energy sectors.</li>
</ul>
Nuclear energy stocks have the potential to be lucrative investments in the long term, particularly if the growing need for reliable, low-carbon energy outweighs the industry&#39;s concerns and challenges. Nuclear technology isn&#39;t a silver bullet, but it can play a significant role in the diverse energy mix required for a sustainable future. While nuclear may not fully eclipse solar and wind power, the unique advantages of atomic energy may prove essential on the path toward a cleaner energy future.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/why-these-nuclear-stocks-could-beat-solar-and-wind-energy-stocks/">Why These Nuclear Stocks Could Beat Solar and Wind Energy Stocks</a>&quot; first appeared on MarketBeat.

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Why These Nuclear Stocks Could Beat Solar and Wind Energy Stocks

Shares of uranium stocks are trading higher following a report suggesting US oil companies are looking to use small nuclear reactors to power drilling operations in the Permian Basin.

<a href="https://www.bloomberg.com/news/articles/2024-04-01/us-shale-drillers-seek-to-power-oil-patch-with-small-nukes?sref=y3YMCJ4e">https://www.bloomberg.com/news/articles/2024-04-01/us-shale-drillers-seek-to-power-oil-patch-with-small-nukes?sref=y3YMCJ4e</a>
&nbsp;
US oil companies including Diamondback Energy Inc. are considering small nuclear reactors to power drilling operations in Texas&#39;s Permian Basin, a move aimed at cutting carbon emissions and ensuring reliable access to electricity.
Diamondback, the largest independent producer headquartered in the shale-oil region, has signed a nonbinding letter of intent with <a href="https://www.bloomberg.com/news/articles/2024-04-01/www.oklo.com">Oklo Inc.</a> to deploy small reactors for some of its future power needs, according to Diamondback President Kaes Van&#39;t Hof. Oklo, which is developing an advanced fission reactor, has held similar discussions with other oil companies, its chief executive officer said in an interview.

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FANG

U.S. Shale Drillers Seek To Power Oil Patch With Small Nuclear Reactors; Reactor Company Oklo Talking To Drillers Including Diamondback

Shares of uranium stocks are trading higher after Kazatomprom reported full-year profit and said global output won't cover market needs this decade.

Colorado-based <a href="https://www.benzinga.com/topic/mining">uranium miner Ur-Energy Inc.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URG#NYSE">URG</a>) said Wednesday it will build out its Shirley Basin mine in Wyoming, making it the latest company to move projects forward as the price of the nuclear fuel soars.
The development will nearly double the company's permitted mine production capacity to 2.2 million pounds. The project is wholly owned by the company and fully permitted and licensed in Carbon County, Wyoming.
"This decision was based on our growing uranium sales contract book, a strong uranium market price and an expectation of growing demand for uranium as nations increasingly move toward clean nuclear power," the company said.
At Shirley Basin, Ur-Energy plans to build a plant capable of producing up to 1 million pounds a year of uranium ore concentrate, also known as yellowcake, uranium oxide or U3O8. It will also develop a wellfield for its fluid-based uranium extraction process.
<h1 class="wp-block-heading">Operating Costs Would Give Ur-Energy Substantial Margin</h1>
Initial facility capital costs will be about $24.4 million and wellfield development costs will be $16.3 million. The company expects sustaining capital expenditures to be $9.2 million over the life of the project.
That works out to operating expenditures before taxes and royalties of $24.40 per pound, the company said. That would give Ur-Energy substantial margin at the current uranium price of around $90 a pound.
The miner says the design finalization, materials purchases and construction will take about two years, and work has already started on items that take a long time to procure.&nbsp;
Also Read: <a href="https://www.benzinga.com/news/earnings/24/02/37341727/energy-fuels-ramps-up-colorado-and-wyoming-mines-to-skyrocket-uranium-production">Energy Fuels Ramps Up: Colorado And Wyoming Mines To Skyrocket Uranium Production</a>
Ur-Energy, which already operates another uranium facility in Wyoming, acquired the Shirley Basin project from a French nuclear company now known as Orano in 2013. At that time uranium prices were on the decline after a power plant disaster in Japan soured the world's appetite for nuclear energy.
Since the accident, there has been relatively little invested in building uranium production capacity, but that dynamic has shifted drastically over the past year as prices have shot to their highest point since 2007.
Prices for the radioactive metal have been surging on expectations of a global nuclear power renaissance to aid in the shift from fossil fuels. Expectations of market disruptions if the U.S. decides to ban Russian uranium in response to its invasion of Ukraine have also contributed. 
Lower production than expected from Kazakhstan-based Kazatomprom (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NATKY#OTC">NATKY</a>) and Canada-headquarted Cameco Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>) have also contributed to rising uranium prices. 
<h1 class="wp-block-heading">Miners Look To Boost Capacity</h1>
Amid the uranium price ascent, companies have been scrambling to increase production capacity.
Cameco is studying expanding the annual output its McArthur River and Key Lake operations in Canada from 18 million pounds of U3O8 to 25 million pounds.&nbsp;
Meanwhile, Energy Fuels Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#NYSE">UUUU</a>) in December said it had restarted production at three of its mines in Arizona and Utah and is preparing additional mines in Colorado and Wyoming.
In January, Denison Mines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNN#NYSE">DNN</a>) said it and a joint venture partner would restart a uranium mine idled since 2008. The same month, Uranium Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UEC#NYSE">UEC</a>) said it had approved restarting uranium production at operations in Wyoming and was advancing restart plans in Texas. 
Last month, IsoEnergy Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ISENF#OTC">ISENF</a>) announced it would reopen underground access to a uranium mine in Utah during the first half of this year with the goal of restarting production next year. 
Read Next: <a href="https://www.benzinga.com/markets/commodities/24/02/37226848/sulfur-shortage-could-slam-various-sectors-mining-green-economy-food-expert-says">Sulfur Shortage Could Slam &#8216;Various Sectors — Mining, Green Economy, Food,&#8217; Expert Warns</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get connected with the Benzinga community!
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NATKY

Ur-Energy To Develop Wyoming Uranium Mine As Prices Soar, Sales Contracts Grow

Energy Fuels (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#AMEX">UUUU</a>) is gearing up for substantial expansion with plans to open two additional uranium mines <a href="https://www.benzinga.com/topic/mining">in Colorado and Wyoming. </a>
The Whirlwind and Nichols Ranch mines are expected to commence production within a year, potentially doubling Energy Fuels&#8217; uranium output and reaching a run rate of over two million pounds of U3O8 annually by 2025 if market conditions remain favorable. In 2024, the uranium market is experiencing heightened activity, with <a href="https://www.benzinga.com/news/earnings/24/02/37039843/cameco-highlights-2023-growth-benefits-of-nuclear-power-are-clearly-in-focus-ceo-says">miners raising production</a> and investment banks engaging <a href="https://www.benzinga.com/news/large-cap/24/02/37215578/goldman-sachs-enters-uranium-derivatives-market-as-prices-double-to-102-per-pound">in market making</a>.
&#8220;We hold a bullish long-term view of uranium prices, and we are investing to boost production,&#8221; CEO Mark Chalmers <a href="https://www.energyfuels.com/2024-02-23-Energy-Fuels-Announces-2023-Results-Record-Net-Income-and-Earnings-per-Share,-Uranium-Production-Ramp-Up,-and-Near-Term-Production-of-Separated-Rare-Earth-Elements">stated</a> in a press release.
The decision to capitalize on the current strength in uranium prices reflects the company&#8217;s strategic response to the surge in demand for uranium oxide – commonly known as yellowcake. The spot price of U3O8 recently reached an impressive high of $102.00 per pound, with the long-term price standing at $72.00 per pound, according to data <a href="https://www.uranium.info/">from</a> TradeTech.
Now read: <a href="https://www.benzinga.com/news/24/02/36968704/fission-uranium-announces-funding-for-uranium-project-in-saskatchewan">Fission Uranium Announces Funding For Uranium Project In Saskatchewan</a>
In 2023, Energy Fuels achieved record-breaking financial results, <a href="https://www.energyfuels.com/2024-02-23-Energy-Fuels-Announces-2023-Results-Record-Net-Income-and-Earnings-per-Share,-Uranium-Production-Ramp-Up,-and-Near-Term-Production-of-Separated-Rare-Earth-Elements">reporting</a> a net income of nearly $100 million, or 63 cents per share. The management noted a robust balance sheet that almost doubled in capital compared to 2022 and $76 million in product inventory at current commodity prices.
In 2024, these results could be even better, as the company contracted to sell 100,000 pounds in Q1 at an average sales price of $102.88 per pound, resulting in an approximate gross margin of 64%.
The company&#8217;s strategic moves, including the recent production start at Pinyon Plain in Arizona, La Sal, and Pandora in Utah, are set to contribute to its growing success. Annual uranium production is projected to reach 1.1 million to 1.4 million pounds this year as these three mines fully ramp up.
The company&#8217;s focus extends beyond immediate production goals. Energy Fuels plans to conduct exploration drilling on Nichols Ranch area properties in Wyoming and underground delineation drilling at Pinyon Plain. Additionally, they aim to advance permitting on large-scale properties like Roca Honda in New Mexico, Sheep Mountain in Wyoming, and Bullfrog in Utah, laying the groundwork for future uranium production.
&#8220;As long as market prices remain strong, we will continue to selectively capitalize on spot market sales opportunities as we ramp up our production in 2024 and beyond, all with limited capital,&#8221; Chalmers said, noting that Energy Fuels entered an "exclusive club" of profitable non-state-owned uranium mining companies.
For those interested in broadening their portfolio within the uranium mining space, here are three ETFs worth considering:
<ol>
<li>Global X Uranium ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URA#NYSE">URA</a>)
<ul>
<li>URA offers targeted exposure to a broad range of companies involved in uranium mining and the production of nuclear components. It&#8217;s designed to track the Solactive Global Uranium &amp; Nuclear Components Total Return Index, making it a comprehensive option for investors interested in the uranium sector.</li>
</ul>
</li>
<li>North Shore Global Uranium Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URNM#NYSE">URNM</a>)
<ul>
<li>URNM seeks to provide investment results that, before fees and expenses, correspond to the total return performance of the North Shore Global Uranium Mining Index. The ETF focuses on companies in the uranium mining industry, including those engaged in the extraction, exploration, development, and production of uranium, as well as companies that invest in uranium.</li>
</ul>
</li>
<li>VanEck Vectors Uranium+Nuclear Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NLR#NYSE">NLR</a>)
<ul>
<li>NLR aims to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS&#xAE; Global Uranium &amp; Nuclear Energy Index. The ETF provides exposure to companies involved in uranium mining, nuclear reactors, nuclear components and equipment, and the generation and distribution of nuclear energy.</li>
</ul>
</li>
</ol>
Also read: <a href="https://www.benzinga.com/news/24/02/37156929/south32s-2-16b-mining-investment-in-arizona-supports-bidens-clean-energy-vision">South32&#8217;s $2.16B Mining Investment In Arizona Supports Biden&#8217;s Clean Energy Vision</a>
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Energy Fuels Ramps Up: Colorado And Wyoming Mines To Skyrocket Uranium Production

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IAEA Sends Two Quarterly Reports On Iran To Member States; Iran's Stock Of Enriched Uranium Is Estimated To Have Grown To 5,525.5 Kg; Iran's Stock Of Uranium Enriched To Up To 60% Purity In Uranium Hexafluoride (UG6) Form Estimated To Have Shrunk To 121.5 Kg; According To IAEA's Definition, Around 42 Kg Of Uranium Enriched To 60% Is Theoretically Enough, If Enriched Further, To Produce A Nuclear Bomb

Editor&#8217;s Note: This story has been updated to correctly reflect that Barrick Gold Corp. is the second-biggest miner of gold.
The mining industry is currently watching a trend play out in Kazakhstan that could have wide-ranging effects on other <a href="https://www.benzinga.com/markets/commodities">sectors across the globe</a>. 
What Happened: Uranium miner Kazatomprom (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NATKY#OTC">NATKY</a>) recently lowered its production forecast because it can't get enough sulfuric acid due to competition from the local fertilizer industry (sulfuric acid is the main reagent used in uranium mining). 
"The disruption in Kazakhstan seems like a temporary regional challenge, but any global disruption in the sulfuric acid supply chain would have important consequences on an array of sectors," François Le Scornet, president of Carbonexit Consulting, told Benzinga. 
"There is indeed a broader global long-term concern about regular sulfur shortages that will impact various sectors — mining, the green economy, the food system,&#8221; Le Scornet added.
See Also: <a href="https://www.benzinga.com/news/mid-cap/24/02/37180661/sibanye-stillwater-explores-use-cases-for-rare-metal-the-auto-sector-needs-less-of">Sibanye-Stillwater Explores Use Cases For Rare Metal The Auto Sector Needs Less Of</a>
Industries use sulfuric acid for a variety of processes including tire manufacturing, fertilizer production and gold mining. Sulfuric acid is mainly produced as a byproduct of oil and natural gas production. 
Observers expect demand for the acid to increase due to fertilizers. A growing population will need more food, which will take more fertilizer to grow. 
Also, lithium batteries for electric vehicles (EVs) and grid-scale electricity storage need sulfuric acid to function. Those batteries and other green tech like solar and wind farms also need huge quantities of metals like copper, cobalt and lithium — and the sulfuric acid needed to extract those minerals.
Why It Matters: Researchers from the University College London <a href="https://rgs-ibg.onlinelibrary.wiley.com/doi/10.1111/geoj.12475">found</a> those factors could create a sulfuric acid shortfall of 100 million to 320 million metric tons per year by 2040, depending on how fast the global economy decarbonizes.
"The dwindling supply could lead to a transition period when green tech outbids the fertilizer industry for the limited, more expensive sulfur supply, creating an issue with food production, particularly in developing countries," the scholars wrote in a 2022 paper published in The Geographical Journal.
At the same time, the sulfuric acid shortage could reinvigorate an industry for mining sulfur from deposits of pyrite, gypsum and anhydrite.
"If we see a general move away from oil and gas, this will certainly reduce the level of sulfuric acid supply, and we may be in a situation like we were in the 1930-50s where we have to start mining sulfur sources like pyrite to keep up with demand," Simon Jowitt, mining industry consultant and associate professor of economic geology at the University of Nevada Reno, told Benzinga. 
"However, that would require exploration, development and more mining, all of which causes other challenges,&#8221; he added. 
Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) is the world's second-biggest miner of gold. At its Golden Sunlight mine in Montana, the company removes and concentrates pyrite from ground rock waste from which gold has already been extracted. 
The company sells the product to its joint venture with Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Nevada Gold Mines.&nbsp;
Eagle Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXP#NYSE">EXP</a>) and Arcosa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACA#NYSE">ACA</a>) produce gypsum and anhydrite, which are used in the construction industry.
For now, there's no global shortage of sulfuric acid necessitating the mining of those sulfur-bearing minerals. 
"Sulfuric acid appears to be plentiful in the U.S., and we are not having trouble procuring it at an acceptable price," uranium producer Energy Fuels Inc. (NYSEAMERICAN: UUUU) spokesman Curtis Moore says. 
And not all uranium producers use the same method or quantities of sulfuric acid as Kazatomprom.
Energy Fuels for instance, doesn't pump the chemical into the ground to dissolve uranium. Rather it processes ore at a mill in large steel tanks, recycling as much of the acid as possible.&nbsp;
Now Read: <a href="https://www.benzinga.com/news/24/02/37070772/new-gold-to-implement-plan-to-boost-gold-copper-production" target="_blank" rel="noreferrer noopener">New Gold To Implement Plan To Boost Gold, Copper Production</a>
Image by <a href="https://pixabay.com/users/stux-12364/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=345637">Stefan Schweihofer</a> from <a href="https://pixabay.com//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=345637">Pixabay</a>

GOLD

Sulfur Shortage Could Slam 'Various Sectors — Mining, Green Economy, Food,' Expert Warns

Are you curious about the future of metals and mining? You&#8217;re not alone. It&#8217;s tough to keep up with the industry constantly buzzing with new technologies and <a href="https://www.youtube.com/watch?v=0NxOCrH72ws">groundbreaking innovations</a>. 
That&#8217;s where the&nbsp;<a href="https://www.benzinga.com/events/mining-unearthed-2024/" target="_blank" rel="noreferrer noopener">&#8216;Mining Unearthed: Exploring the Ore of Innovation&#8216;</a>&nbsp;webinar comes in. Set for 11 a.m. EST on Feb. 15, this event is a must for anyone with a stake in <a href="https://www.benzinga.com/topic/mining">metals and mining</a>. 
Whether you&#8217;re eyeing investment opportunities, scouting the latest in mining, or simply passionate about the industry&#8217;s direction, this virtual event has you covered. Don&#8217;t miss out—here&#8217;s a sneak peek at what&#8217;s in store.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Mining Unearthed: Navigating the Ore of Innovation!" width="500" height="281" src="https://www.youtube.com/embed/0NxOCrH72ws?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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</figure>
<h3 class="wp-block-heading">Dennis Higgs: Building Companies, Shaping Industries</h3>
Dennis Higgs, the president of&nbsp;Austin Gold Corp.&nbsp;and a seasoned industry veteran with over thirty years of experience founding, financing, and scaling companies to successful takeovers, will share his story of resilience and foresight in the face of industry challenges. As a board member of Energy Fuels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#NYSE">UUUU</a>), the U.S.&#8217;s leading uranium and vanadium producer, Higgs&#8217;s profound influence in the uranium sector is undeniable.
<h3 class="wp-block-heading">Miles Rideout: Bridging Exploration and Community</h3>
Miles Rideout, the VP-Exploration at&nbsp;Argentina Lithium &amp; Energy Corp., brings over 34 years of experience, spanning advanced exploration practices and community integration. His insights into sustainable mining practices are invaluable. 
He has a history of managing lithium property acquisitions in northern Argentina and pioneering mining operations in South America. Rideout&#8217;s contribution to major discoveries, like the Collahuasi and Veladero deposits, highlights his profound impact on the industry.
<h3 class="wp-block-heading">Taylor McKenna: An Expert At Investment Analysis</h3>
Taylor McKenna, a seasoned investment analyst at&nbsp;Kopernik, brings unparalleled expertise in materials and real estate sectors with a keen eye on global trends. Her approach, grounded in comprehensive data scrutiny, positions her as a guiding light for investment strategies in today&#8217;s dynamic market environment.
&#8220;What really excites us is that miners in our portfolio are trading below liquidation values, assuming current spot prices. However, if prices rise, which we think is likely, investors have incredible optionality to higher prices,&#8221; McKenna told Benzinga. 
<h3 class="wp-block-heading">Brett Richards: Charting New Territories in Gold Mining</h3>
Catch Brett Richards, CEO of Goldshore Resources (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/GSHR#TSXV">GSHR</a>), as he shares his forward-thinking strategies in the ever-evolving gold mining landscape. With over 30 years in the trenches of the mining world, Richards&#8217;s journey from mine development to leading Goldshore Resources is nothing short of inspiring. His session promises a deep dive into how innovative practices set new standards in the industry, especially with Goldshore&#8217;s projects that are turning heads.&nbsp;
<h3 class="wp-block-heading">Why Attend?</h3>
This virtual event is a chance to learn from the industry&#8217;s most influential leaders. Whether you&#8217;re an investor seeking to diversify your portfolio or an enthusiast eager to learn about the industry&#8217;s economic impact, &#8216;Mining Unearthed: Exploring the Ore of Innovation&#8217; is your ticket to understanding the opportunities ahead. <a href="https://www.benzinga.com/events/mining-unearthed-2024/">Register now!</a>
<a href="https://www.benzinga.com/go/cannabis-conference-article-link" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Conferences&nbsp;</a>are coming to Los Angeles. Join the&nbsp;<a href="https://cannabismarketspotlight.com/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Market Spotlight: California</a>&nbsp;and unlock the future of cannabis at the premier networking event in Culver City on February 22. Connect with top industry leaders like Alegrete, gain insider insights into the investment landscape, and shape the evolving markets in California and beyond. Don&#8217;t miss this chance to be at the forefront of the cannabis industry&#8217;s growth and innovation!&nbsp;<a href="https://cannabismarketspotlight.com/" target="_blank" rel="noreferrer noopener">Join now</a>.
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Events

TSXV:GSHR

Rock The Future: Carve Out Success In 2024 Mining

Roth MKM analyst Joe Reagor maintains Energy Fuels (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#AMEX">UUUU</a>) with a Buy and raises the price target from $9.25 to $10.5.

Roth MKM Maintains Buy on Energy Fuels, Raises Price Target to $10.5-Report Released on 22 January 2024

Shares of several uranium companies, including Cameco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>) and Uranium Energy Corp. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UEC#AMEX">UEC</a>), are climbing Friday after Kazatomprom, the largest uranium producer in the world, said it is likely to experience a production shortfall, which <a href="https://otp.tools.investis.com/clients/uk/kazatomprom/rns/regulatory-story.aspx?cid=2438&amp;newsid=1748482">has weighed on supply outlook</a>.
The Details:
Kazatomprom warned that a shortage of sulphuric acid was impacting its production, kicking off a surge in the price of uranium which is up to around a 15-year high of $92.50 a pound. 
The company projected that it will miss its production goals for the next two years, but it is committed to meeting contractual obligations towards all existing customers throughout 2024. The company said its 2025 production plans are subject to "considerable supply chain risks&#8221; and it will release a detailed assessment of the scale of any shortfall by the end of January.
The news of reduced uranium production comes amid a rise in demand for uranium as many countries have revived nuclear energy plans as part of the renewable energy movement. 
Shares of Energy Fuels Inc. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#AMEX">UUUU</a>), a Canadian uranium miner, and Uranium Royalty Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UROY#NASDAQ">UROY</a>), which gains exposure to uranium prices through investments in uranium interests and through holdings of physical uranium, are also moving higher on the news. 
Related News: <a href="https://www.benzinga.com/markets/commodities/24/01/36491015/as-spot-uranium-climbs-to-new-highs-cameco-struggles-to-regain-its-footing">As Spot Uranium Climbs To New Highs, Cameco Struggles To Regain Its Footing</a>
CCJ, UEC, UUUU, UROY Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, shares of Cameco are up 8% at $50.42, shares of Uranium Energy are up 10% at $7.63, Energy Fuels shares are up 8% at $7.62 and Uranium Royalty shares are up 13.6% at $3.09 at the time of publication. 
Image: Pete Linforth from Pixabay

Movers & Shakers

UROY

Why Uranium Stocks Are Climbing Today

Shares of uranium stocks are trading higher after miner Kazatomprom reportedly said it is likely to experience a production shortfall, which has weighed on supply outlook.

Shares of uranium stocks are trading higher after the US Department of Energy issued a request for proposals for uranium enrichment services to help establish a domestic supply of fuels using high-assay low-enriched uranium.

<a href="https://www.energy.gov/articles/doe-announces-next-steps-build-domestic-uranium-supply-advanced-nuclear-reactors-part">https://www.energy.gov/articles/doe-announces-next-steps-build-domestic-uranium-supply-advanced-nuclear-reactors-part</a>
&nbsp;
New Request for Proposals to Establish Domestic Supply Chain of High-Assay Low-Enriched Uranium Required for Smaller, More Versatile Reactors Will Increase Energy Security and Strengthen U.S. Competitiveness
WASHINGTON, D.C. — In support of President Biden's Investing in America agenda, today the U.S. Department of Energy (DOE) issued a request for proposals (RFP) for uranium enrichment services to help establish a reliable domestic supply of fuels using high-assay low-enriched uranium (HALEU)—a crucial material needed to deploy advanced nuclear reactors, which will help reach President Biden's goal of net-zero emissions by 2050, increase energy security, create good-paying jobs, and strengthen U.S. economic competitiveness. Currently, HALEU is not commercially available from U.S.-based suppliers, and boosting domestic supply could spur the development and deployment of advanced reactors in the United States.&nbsp;
"Nuclear energy currently provides almost half of the nation's carbon-free power, and it will continue to play a significant part in transitioning to a clean energy future," said&nbsp;U.S. Secretary of Energy Jennifer M. Granholm.&nbsp;"President Biden's Investing in America is strengthening our national and energy security through the domestic buildup of a robust HALEU supply chain, helping bring advanced reactors online in time to combat the climate crisis."
"The Biden-Harris Administration knows that nuclear energy is essential to accelerating America's clean energy future," said Assistant to the President and National Climate Advisor Ali Zaidi. "Boosting our domestic uranium supply won't just advance President Biden's historic climate agenda, but also increase America's energy security, create good-paying union jobs, and strengthen our economic competitiveness. The path to greater energy security and more climate solutions runs through investments like these, being made at historic scale by President Biden. It's good news for our economy, for America's union workforce, and for our planet."
In total, President Biden's Inflation Reduction Act will provide up to $500 million for HALEU enrichment contracts selected through <a href="https://sam.gov/opp/11ff0842638849558f2ae917975b1f28/view">this RFP</a> and a <a href="https://www.energy.gov/ne/articles/us-department-energy-issues-haleu-deconversion-request-proposals">separate one</a>, released in November, for services to deconvert the uranium enriched through this RFP into metal, oxide, and other forms to be used as fuel for advanced reactors.&nbsp;
Nuclear power is America's largest source of clean energy and provides firm, reliable, and safe power. Advanced nuclear power designs using HALEU fuels represent a critical set of technologies that can help to reach U.S. emissions targets and contribute to America's recent pledge with 21 other countries to triple nuclear power globally by 2050.
The existing U.S. fleet of reactors runs on uranium fuel that is enriched up to five percent with uranium-235—the main fissile isotope that produces energy during a chain reaction. However, most U.S. advanced reactors require HALEU, which is enriched between 5% to 20%, to achieve smaller and more versatile designs with the highest standards of safety, security, and nonproliferation. HALEU will also allow developers to optimize their systems for longer life cores, increased efficiencies and better fuel utilization.&nbsp;
DOE's Office of Nuclear Energy plans to award one or more contracts to produce HALEU from domestic uranium enrichment capabilities. Once enriched, the HALEU material will be stored on site until there is a need to ship it to deconverters.
Under the HALEU enrichment contracts, which have a maximum duration of 10 years, the government assures each contractor a minimum order value of $2 million, to be fulfilled over the term of the contract. Enrichment and storage activities must occur in the continental United States and comply with the National Environmental Policy Act. Proposals are due by 5 p.m. MST on March 8. This RFP incorporated industry feedback received on a draft version issued in June. &nbsp;
DOE is supporting several activities to expand the HALEU supply chain for advanced commercial reactors, including recycling spent nuclear fuel from government-owned research reactors. In November, DOE reached a key milestone under its HALEU Demonstration project when a company produced the nation's first 20 kilograms of HALEU, providing a first of its kind production in the United States in more than 70 years. DOE is also <a href="https://www.energy.gov/articles/cop28-us-canada-france-japan-and-uk-announce-plans-mobilize-42-billion-reliable-global">working with like-minded</a>&nbsp;countries to catalyze public and private sector investments that will expand global uranium enrichment and conversion capacity over the next three years and establish a resilient uranium supply market that is free from Russian influence. Together, the United States, Canada, France, Japan, and the United Kingdom have announced collective plans to mobilize <a href="https://www.energy.gov/articles/cop28-us-canada-france-japan-and-uk-announce-plans-mobilize-42-billion-reliable-global">$4.2 billion</a> in government-led spending to develop safe and secure nuclear energy supply chains.&nbsp;
Learn more about HALEU Availability Program activities <a href="https://www.energy.gov/ne/haleu-availability-program">here</a>.

Reported Earlier, "DOE Announces Next Steps To Build Domestic Uranium Supply For Advanced Nuclear Reactors As Part Of President Biden's Investing In America Agenda"

IsoEnergy: A High-Beta Uranium Developer With A Good Valuation

QuantumScape May Need A Buyout To Stay Viable

In this recap of the most recent trading session, I review the trades I took throughout the week. I also discuss how to manage one's trades.

Masters In Trading - Saturday, April 13

Energy Fuels started with Buy rating at B Riley as energy transition fuel provider

An update from Energy Fuels Inc (UUUU) is now available. Energy Fuels Inc. has updated its employment contracts with top executives Mark S. Chalmer...

Energy Fuels Executives Secure Updated Employment Agreements

Energy Fuels Inc. (TSE:EFR) has released an update. Energy Fuels Inc. has announced a strategic acquisition of Base Resources, positioning the comp...

Energy Fuels Expands with Strategic Acquisition

Energy Fuels to buy Base Resources in A$375M cash and stock deal

VIVK, PVL among major energy gainers; INDO, UUUU among major losers

Noble Financial analyst Michael Heim reiterated a Buy rating on Energy Fuels (UUUU – Research Report) today and set a price target of $10.00. The c...

Energy Fuels (UUUU) Receives a Buy from Noble Financial

The latest announcement is out from Energy Fuels Inc (UUUU). Energy Fuels Inc. announced a new pre-feasibility study on April 24, 2024, outlining t...

Energy Fuels Inc Explores Expansion of Rare Earth Production

AMZN

DPXCF

KTOS

METC

MSOS

NINE

RELY

VIVK

Press Releases

Powering Tomorrow: Why Stallion Uranium's (STLNF) Focus on Uranium could be a Game-Changer for Energy Investors

Opinion

Thinking about buying stock in Morphosys, Iovance Biotherapeutics, Bank of America, Energy Fuels, or China Recycling Energy Corporation?

Thinking about buying stock in NKGen Biotech, Novo Nordisk, SoundHound AI, Safety Shot, or Energy Fuels?

Energy Fuels Announces 2023 Results: Record Net Income and Earnings per Share, Uranium Production Ramp-Up, and Near-Term Production of Separated Rare Earth Elements

Billion Dollar Uranium Market Growing at a Solid Rate Along With Rising Adoption Strategies

Atomic Energy Advancement Act in support of developing new nuclear power assets could drive uranium stocks higher (UEC,STUD.V)

Stallion Uranium Corp. (STUD.V) Stallion holds the largest exploration land package in the Southwestern Athabasca Basin

Energy Fuels Announces Agreement for Transformational Acquisition of Base Resources, Creating a Global Leader in Critical Minerals Production with a Focus on Uranium, Rare Earth Elements and Heavy Mineral Sands