LAKEWOOD, CO, Jan. 23, 2018 /PRNewswire/ - Energy Fuels Inc.
(NYSE American: UUUU; TSX: EFR) ("Energy Fuels" or the
"Company") is pleased to announce that, in accordance with the
Company's long-term succession planning, the Board of Directors
(the "Board") has appointed Mark S.
Chalmers, the current President and Chief Operating Officer
of Energy Fuels, as President and Chief Executive Officer ("CEO")
and a Director of the Company, effective February 1, 2018. On January 31, 2018, Stephen
P. Antony, the current CEO of the Company, will retire as
CEO and as a Director of the Company.
Mr. Chalmers brings decades of global uranium mining experience
to Energy Fuels. Prior to joining Energy Fuels in July of 2016, Mr.
Chalmers served as Executive General Manager of Production for
Paladin Energy Ltd., where he oversaw operations of the Langer
Heinrich and Kayelekera Mines in Africa. He also possesses extensive experience
in in situ recovery ("ISR") uranium production, including
management of the Beverley Mine in Australia and the Highland Mine in
the United States. Mr. Chalmers
has also consulted to several of the largest players in the uranium
supply sector, including BHP Billiton, Rio Tinto, and Marubeni.
Since joining Energy Fuels, Mr. Chalmers has overseen Energy Fuels'
conventional and ISR operations, focusing on production
optimization, resource growth, and obtaining new sources of revenue
for the Company including alternate feed materials and land
clean-up work.
Mr. Antony has served Energy Fuels since 2005, when he joined
the Company as Chief Operating Officer. He was later appointed
President and CEO in 2009. During his tenure as President and CEO,
Energy Fuels has grown from a small uranium project developer into
the largest uranium producer in the U.S. in 2017. Under Mr.
Antony's leadership, Energy Fuels consolidated a large proportion
of the U.S. uranium industry through six (6) major acquisitions
including Magnum Uranium Corp. (2009), Titan Uranium Inc. (2012),
the US mining division of Denison Mines Corp. (2012), Strathmore
Minerals Corp. (2013), Uranerz Energy Corp. (2015), and Mesteña
Uranium, LLC (2016). Through these acquisitions, Energy Fuels now
holds three uranium production facilities, a number of permitted
and developed conventional and ISR mines, and the largest National
Instrument 43-101 uranium resource portfolio in the United States among producers and
near-producers.
J. Birks Bovaird, Chairman of the Board for Energy Fuels states:
"The Board of Directors of Energy Fuels is pleased that
Mark Chalmers has agreed to serve as
the Company's President and CEO. Mark brings the suite of skills
that we believe Energy Fuels needs to continue our growth and
development into the future. We believe the next few years could be
very interesting for the Company. Major uranium production cuts
have been announced by world producers. Energy Fuels is taking
proactive actions to potentially increase the value of U.S. uranium
production through our recent submittal of a 232 Petition to the
U.S. Department of Commerce. And, we are seeking new sources of
revenue through alternate feed materials and land clean-up work.
Despite continuing challenges in uranium markets, Energy Fuels has
several unique and exciting opportunities that no other uranium
miner in the U.S. enjoys. Last but certainly not least, the Board
thanks Steve Antony for his service
to the Company over the past 13 years. He has been 'the right man
at the right time' to guide Energy Fuels, always leading the
Company with intelligence, tenacity, and most importantly,
integrity. His crowning achievement will always be the
-consolidation of the U.S. uranium space. Through Mr. Antony's
guidance, Energy Fuels is now the premier U.S. uranium mining
company, and we are well positioned to capitalize on increasing
uranium prices and other opportunities in the future. We wish Mr.
Antony the very best in the future and a happy and fulfilling
retirement."
About Energy Fuels: Energy Fuels is a leading
integrated US-based uranium mining company, supplying
U3O8 to major nuclear utilities. Energy Fuels
holds three of America's key uranium production centers, the White
Mesa Mill in Utah, the Nichols
Ranch Processing Facility in Wyoming, and the Alta Mesa Project in
Texas. The White Mesa Mill is the
only conventional uranium mill operating in the U.S. today and has
a licensed capacity of over 8 million pounds of
U3O8 per year. The Nichols Ranch Processing
Facility is an ISR production center with a licensed capacity of 2
million pounds of U3O8 per year. Alta Mesa is an ISR production center currently
on care and maintenance. Energy Fuels also has the largest National
Instrument 43-101 compliant uranium resource portfolio in the U.S.
among producers, and uranium mining projects located in a number of
Western U.S. states, including one producing ISR project, mines on
standby, and mineral properties in various stages of permitting and
development. The Company also produces vanadium as a co-product of
its uranium production from certain of its mines on the Colorado
Plateau, as market conditions warrant. The Company's common shares
are listed on the NYSE MKT under the trading symbol "UUUU", and on
the Toronto Stock Exchange under the trading symbol "EFR".
Cautionary Note Regarding Forward-Looking
Statements: This news release contains certain
"Forward Looking Information" and "Forward Looking Statements"
within the meaning of applicable securities legislation, which may
include, but is not limited to, statements with respect to:
the Company being a leading producer of uranium in the U.S;
proactive actions taken by the Company to
potentially increase the value of U.S. uranium production through
the submittal of a 232 Petition to the U.S. Department of Commerce;
any expectations regarding new sources of revenue through alternate
feed materials and land clean-up work; any unique opportunities the
Company may have relative to other uranium miners; and any
other statements regarding Energy Fuels' future expectations,
beliefs, goals or prospects; constitute forward-looking information
within the meaning of applicable securities legislation
(collectively, "forward-looking statements"). All statements in
this news release that are not statements of historical fact
(including statements containing the words "expects", "does not
expect", "plans", "anticipates", "does not anticipate", "believes",
"intends", "estimates", "projects", "potential", "scheduled",
"forecast", "budget" and similar expressions) should be considered
forward-looking statements. All such forward-looking statements are
subject to important risk factors and uncertainties, many of which
are beyond Energy Fuels' ability to control or predict. A number of
important factors could cause actual results or events to differ
materially from those indicated or implied by such forward-looking
statements, including without limitation factors relating
to: the Company being a leading producer of uranium
in the U.S; proactive actions taken by the
Company to potentially increase the value of U.S. uranium
production through the submittal of a 232 Petition to the U.S.
Department of Commerce; any expectations regarding new sources of
revenue through alternate feed materials and land clean-up work;
any unique opportunities the Company may have relative to other
uranium miners;and other risk factors as described in
Energy Fuels' most recent annual report on Form 10-K and quarterly
financial reports. Energy Fuels assumes no obligation to
update the information in this communication, except as otherwise
required by law. Additional information identifying risks and
uncertainties is contained in Energy Fuels' filings with the
various securities commissions which are available online at
www.sec.gov and www.sedar.com. Forward-looking statements are
provided for the purpose of providing information about the current
expectations, beliefs and plans of the management of Energy Fuels
relating to the future. Readers are cautioned that such statements
may not be appropriate for other purposes. Readers are also
cautioned not to place undue reliance on these forward-looking
statements, that speak only as of the date hereof.
SOURCE Energy Fuels Inc.