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ef ENERGY FUELS Energy Fuels Announces Q3-2021 Results , Including Robust Balance Sheet , Market - Leading U.S. Uranium Position & Commercial Rare Earth Production Webcast on November 2 , 2021 Lakewood , Colorado - November 1 , 2021 Energy Fuels Inc. ( NYSE American : UUUU ; TSX : EFR ) ( “ Energy Fuels " or the " Company " ) today reported its financial results for the quarter ended September 30 , 2021. The Company's quarterly report on Form 10 - Q 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 www.sec.gov/edgar.shtml , on the System for Electronic Document Analysis and Retrieval ( " SEDAR " ) at www.sedar.com , and on the Company's website at www.energyfuels.com . Unless noted otherwise , all dollar amounts are in U.S. dollars . • • • • • • • Highlights : At September 30 , 2021 , the Company had a very robust balance sheet with $ 132.8 million of working capital , including $ 100.8 million of cash and marketable securities and $ 29.3 million of inventory . At current commodity prices , the Company's product inventory has a value of $ 46.9 million . During the quarter ended September 30 , 2021 , the Company incurred a net loss of $ 8.0 million , due primarily to increased development expenditures and other costs incurred in ramping up our mixed rare earth element ( " REE ” ) carbonate ( “ RE Carbonate ” ) production at the White Mesa Mill in Utah ( the “ Mill ” ) . Between June 30 , 2021 and October 15 , 2021 , the price of uranium rose 42 % , mainly due to the entry of financial entities into the market who are buying uranium on the spot market with a stated intent to hold the inventory for the long - term . With several existing uranium mines on standby and significant inventories of Company - produced , U.S.- origin uranium available for sale , the Company is actively seeking out opportunities to supply uranium to nuclear utilities under term contracts while also evaluating the potential to sell some inventory on the spot market . The Company is in the process of ramping up to expected commercial - scale production of RE Carbonate in Q1-2021 , and began deliveries of this intermediate REE product to a separation facility in Europe in July 2021 . The Company is currently in active discussions with several global suppliers of natural monazite ore to supply feed for this growing REE initiative , which has the potential to include the production of separated REE oxides in the future , subject to licensing , successful commissioning , and prevailing market conditions . On October 27 , 2021 , the Company completed the sale of a package of non - core conventional uranium projects located in Utah and Colorado to Consolidated Uranium Inc. ( “ CUR ” ) . Based on CUR's closing share 1