Energy Fuels Inc. (NYSE:UUUU) Q1 2023 Results Conference Call May 9, 2023 4:00 PM ET

Company Participants

Mark Chalmers - President and Chief Executive Officer

Tom Brock - Chief Financial Officer

Curtis Moore - Senior VP of Corporate Development Marketing

Conference Call Participants

Heiko Ihle - H.C. Wainwright

Joseph Reagor - Roth MKM

Operator

Good morning. My name is Brain, and I will be your conference operator today. At this time, I would like to welcome everyone to the Energy Fuels’ First Quarter 2023 Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question and answer session. [Operator Instructions] Thank you.

Mr. Chalmers, you may begin your conference.

Mark Chalmers

Thank you, Brian and good morning or good afternoon, depending on where you are joining this conference call from. Thank you for joining the Q1 2023 conference call and webcast today. As always, we are very excited to discuss what has been a very busy kick off in Q1 to 2023, as well as to also update you on the significant accomplishments we continue to make. For those that cannot join the call today, we will still have the replays of this presentation available for two weeks on our website, either later today or tomorrow.

Every quarterly call I comment on the fact that we are making extraordinary progress on many fronts, and certainly this quarter is no exception if you have read our Q1 result press release. I believe it is very appar’ent that energy fuels has emerged as a clear leader in U.S. critical mineral production at a time when this has never been more important.

Many of you have also heard me make the comments that we will always be aggressive, but not reckless, and I believe that Q1 is a testament to this. While we have made significant strides to further strengthen our uranium and rare earth production capabilities, along with our balance sheet in ways that I believe are value discipline in staying several steps ahead of our competition.

I also think the title of our quarterly press release speaks volumes, net income of 114 million and 143 million in working capital, nearly 20 million of uranium vanadium sales, and the commencement of development of rare earth separation capabilities in Utah.

Today, I will elaborate on these accomplishments during the quarter and provide some details on what I believe the rest of the year looks like and it is also pleasing to say that we had a very good day with our stock today. I haven’t seen where it closed out, but it was up somewhere in the order of 8% for the day.