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Energy Fuels Announces Q1-2021 Results , Including Robust Balance Sheet , Continued Readiness to Supply Uranium into the U.S. Uranium Reserve when Established & Continued Ramp - up to Commercial Rare Earth Production ; Webcast on Monday , May 17 , 2021 LAKEWOOD , Colo . , May 13 , 2021 / CNW / - Energy Fuels Inc. ( NYSE American : UUUU ) ( TSX : EFR ) ( " Energy Fuels " or the " Company " ) today reported its financial results for the quarter ended March 31 , 2021. The Company's annual report on Form 10 - K has been filed with the U.S. Securities and Exchange Commission ( " SEC " ) and may be viewed on the Electronic Document Gathering and Retrieval System ( " EDGAR " ) at , on the System for Electronic Document Analysis and Retrieval ( " SEDAR " ) at , and on the Company's website at . Unless noted otherwise , all dollar amounts are in U.S. dollars . Highlights : ⚫ At March 31 , 2021 , the Company had $ 60.37 million of working capital , including $ 44.11 million of cash and marketable securities and $ 27.98 million of inventory , including approximately 690,800 pounds of uranium and 1,672,000 pounds of high - purity vanadium in the form of immediately marketable product . • • Due to recent share price strength , the Company raised gross proceeds of $ 12.99 million on its at - the - market equity program between April 1 , 2021 and May 12 , 2021 , further enhancing the Company's financial position . During the quarter ended March 31 , 2021 , the Company incurred a net loss of $ 10.91 million , compared to a net loss of $ 5.66 million for the first quarter of 2020 , due primarily to an increase in the Company's share price during Q1 2021 , which resulted in a non - cash mark - to - market increase in warrant liabilities of $ 3.50 million during Q1 2021 , and an increase of $ 2.69 million in development expenditures in Q1 2021 compared to Q1 2020 primarily due to the development and ramping up of the expected rare earth element ( " REE " ) carbonate production program at the White Mesa Mill during the first quarter of 2021 . ⚫ With several existing mines on standby and existing inventories of Company - produced , U.S. - origin uranium , the Company continues to be ready to supply uranium into the U.S. Uranium Reserve once it is established by the U.S. government . • On March 1 , 2020 , the Company , along with Neo Performance Materials ( " Neo " ) , announced the joint launch of a U.S.- European REE production initiative under which the parties plan to produce value - added REE products from natural monazite sands , a byproduct of heavy mineral sands mined in the southeastern United States . Pursuant to this initiative , in late - March 2021 Energy Fuels commenced ramping - up commercial production of a mixed rare earth carbonate ( " REE Carbonate " ) from natural monazite sands at the Company's White Mesa Mill . Under an agreement in principle signed on March 1 , and subject to completion of definitive agreements and successful ramp - up of production , Energy Fuels will ship