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#ixzz2SXYIbbncComments: 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."