Monday, May 6, 2013

Energy Fuels Refocuses On Lower Cost Uranium Production / Colorado approves license for construction of uranium mill:Energy Fuels sells its uranium to South Korea / Energy Fuels also currently lacks funds to build

Comments:  Uranium mining is an on/off or boom or burst type of company, do we really want this type of business in Virginia, heck no!

Energy Fuels Refocuses On Lower Cost Uranium Production

 

Energy Fuels Inc. (TSX:EFR) announced it will shift its short-term focus toward lower cost sources of uranium production within its asset portfolio.
As quoted in the press release:
Specifically, Energy Fuels will concentrate on mining its lower cost, high-grade breccia pipes in northern Arizona and on processing alternate feed materials at the White Mesa Mill which have no associated mining cost.

As a result of this revised production strategy, Energy Fuels will be placing the Beaver and Daneros properties on the Colorado Plateau on standby over the course of the first quarter of FY 2013.

In addition, the Company will cease mining at the Pandora property on the Colorado Plateau during the second quarter of FY 2013, pending the depletion of its identified uranium and vanadium resources.

Energy Fuels will closely monitor market conditions and evaluate reopening the Beaver and Daneros mines at the appropriate time.

Core mining expertise will be retained at these locations during the standby period.
http://resourceinvestingnews.com/44588-energy-fuels-refocuses-on-lower-cost-uranium-production.html



Comments:  Look at the reason for approval:  "The environmental analysis notes that 88 percent of the land within 5 miles of the proposed site is undeveloped and administered by the U.S. Bureau of Land Management. Some privately owned land  but the report says there are very few residences near the mill site."

Colorado approves license for construction of uranium mill

 Read more: Colorado approves license for construction of uranium mill - The Denver Post http://www.denverpost.com/business/ci_23110156/colorado-approves-license-construction-uranium-mill#ixzz2SXYIbbnc


Comments: The local/Canadian always preaching Fuel for America, yeah right:  " Energy Fuels sells its uranium to three customers — two utilities in the U.S. and one in South Korea !"Next line"Energy Fuels also currently lacks funds to build, Moore pointed out."

Uranium: Piñon Ridge Permit License is Approved Again

By Dick Kamp Beacon Environmental Correspondent | Posted: Tuesday, April 30, 2013 12:00 am
Energy Fuels spokesman Curtis Moore was circumspect about plans and said, but after that spot uranium market prices are pretty low, less than $41per pound (U308). After we fulfill current contracts at $56 to $58 per pound (U308), then we either sell at market prices or else we just inventory what feedstock we receive. We still are optimistic long term, but Japan is not starting
reactors as quickly as thought, and right now, there is a plentiful [uranium] supply around the world.

“Once the price goes up, then it won’t just be us looking to process uranium ore. Our Blanding (Utah White Mesa mill) will eventually be up to capacity also, and certainly the area will be able to support two mills.”

Energy Fuels also currently lacks funds to build, Moore pointed out.

The company's stock closed Thursday, April 25, at 13.5 cents per share.

http://www.cibolabeacon.com/news/uranium-pi-on-ridge-permit-license-is-approved-again/article_be0605c4-b14a-11e2-b238-0019bb2963f4.html

State grants license to Energy Fuels

Energy fuels: uranium mill construction not imminent

By Heather Sackett
Associate Editor
He said Energy Fuels will not start construction on the mill immediately — it is still waiting on another permit from the CDPHE related to air emissions. Also, with the current price of uranium, it wouldn’t be worth it for the company to open Piñon Ridge right now.

Energy Fuels sells its uranium to three customers — two utilities in the U.S. and one in South Korea — at about $56-58 a pound under long-term contracts, Moore said.

“If we were to open Piñon Ridge, we would not be able to sell (uranium),” Moore said. “We would have to sell it on the spot market at about $40 per pound. We can’t really say when we might build Piñon Ridge.”

Uranium has been a divisive issue in the region, with most in Telluride opposing the mill, as well as the U.S. Department of Energy’s Uranium Leasing Program. The resurgence of the industry has pitted health and environmental activists http://www.telluridenews.com/articles/2013/04/28/news/doc517b0422dd62f760154256.txt