EFR Energy Fuels Inc

Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") announced today
that the Radiation Program of the Colorado Department of Public Health and
Environment (CDPHE) has approved a request by the Company to defer its remaining
financial assurance payments for the Pinon Ridge Uranium and Vanadium Mill until
next construction season. This approval is an amendment to the company's
Radioactive Materials License (the "License"). The original payment schedule was
based on mill construction starting in September 2011. However, due to ongoing
litigation on the License, Energy Fuels will not be able to start construction
until at least March 2012. 


Steve Antony, President and CEO of Energy Fuels commented, "The deferral of this
substantial commitment of capital is very good news for Energy Fuels in light of
the expected and ongoing legal processes that are in the hands of the court
system. Until we clear the administrative and legal roadblocks currently
prohibiting us from beginning construction, there is no reason to tie up these
funds in the state treasury. We can put this money to far better use in our
consolidation program in the western US." 


The amended License reflects a department-approved financial warranty for
decommissioning of the mill in the amount of US$11,070,890, payable on the
following schedule:




1.  US$1,373,900, which was paid on May 6, 2011; 
2.  US$2,898,260 due March 7, 2012 or prior to the start of construction,
    whichever comes first; 
3.  US$6,401,920 due Sept. 7, 2012 or six months after construction begins,
    whichever comes first; and 
4.  US$396,810 due March 7, 2013 or one year after construction begins,
    whichever comes first.



These amounts are based on detailed cost estimates analyzing a worst-case
scenario that assumes a third party must implement the preapproved
decommissioning and reclamation plan at no cost to taxpayers. These cost
estimates are required to be reviewed annually to ensure sufficient money is in
place to protect taxpayers.


In addition to the amounts detailed above, Energy Fuels has previously deposited
US$844,400 into the Colorado state treasury to pay for the long-term care of the
mill site after decommissioning. 


Steve Tarlton, Radiation Program Manager for CDPHE stated that, "It's important
to note that the financial warranty is for decommissioning the mill after
operation at the end of its useful life. Because construction has not even
begun, delaying these payments poses no liability to the state or the people of
Colorado."


About Energy Fuels: Energy Fuels Inc. is a uranium and vanadium mineral
development company. With more than 45,000 acres of highly prospective uranium
and vanadium property located in the states of Colorado, Utah, Arizona, Wyoming,
and New Mexico, and exploration properties in Saskatchewan's Athabasca Basin
totaling approximately 32,000 additional acres, the Company has a full pipeline
of additional development prospects. Energy Fuels, through its wholly-owned
Colorado subsidiary, Energy Fuels Resources Corporation and its British Columbia
subsidiary, Magnum Uranium Corp., has assembled this property portfolio along
with a first class management team, including highly skilled technical mining
and milling professionals based in Lakewood and Naturita, Colorado and Kanab,
Utah.


This news release contains certain "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act of 1934, as
amended and "Forward Looking Information" within the meaning of applicable
Canadian securities legislation. All statements, other than statements of
historical fact, included herein are forward-looking statements and
forward-looking information that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time-to-time with the British Columbia, Alberta and Ontario
Securities Commissions.

Energy Fuels (TSX:EFR)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Energy Fuels (TSX:EFR)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024