Energy Fuels reports Q2-2026 results

Canada NewsWire

DENVER , Aug. 5, 2026 /CNW/ -- Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels "or the " Company "), a leading United States (" U.S. ") producer of uranium, rare earth elements (" REEs "), and other critical minerals, today reported its financial and operational results for the quarter ended June 30, 2026.

"Energy Fuels had a transformational second quarter where the Company continued to build one of the strongest strategic platforms in the rare earth sector through the planned acquisitions of VAC and ASM to add rare earth metal, alloy and magnet capacity to our portfolio, a conditional loan commitment of $725 million from the OSC to help fund our expansions, further advancement of our Donald Project joint venture as a near term source of rare earth feedstock, and commencement of construction on our heavy rare earth plant at the White Mesa Mill," said Ross Bhappu, President and Chief Executive Officer of Energy Fuels.

"Our second quarter financial results reflect continued strong performance in our uranium segment, including industry leading low production costs, and actions we have taken to deliver on becoming the first, true, rare earth mine-to-magnet platform in the West. The continued investment in our transformation into a vertically integrated global critical materials company resulted in a net loss driven primarily by transaction-related costs associated with our planned acquisitions and higher operating expenses as we invest in people and projects. Importantly, these investments are being made from a position of financial strength, with nearly $1 billion of working capital at quarter-end. We believe the operational progress achieved this quarter, combined with our disciplined investment in growth, provides a strong foundation for future value creation."

Second Quarter Highlights

Rare Earth Elements

Planned Acquisition of VAC: On June 23, 2026, the Company e