Energy Fuels Buys Mesteņa Uranium

Energy Fuels has acquired Mesteņa Uranium and its Alta Mesa in-situ recovery (ISR) uranium production facility in Brooks and Jim Hogg counties, south Texas. Alta Mesa operations are currently on standby but could be ramped up to commercial production levels within approximately six months of a positive production decision by Energy Fuels, with only minimal capital requirements. The all-share transaction valued Mesteņa at about $11.4 million.

The transaction includes a land package of 195,501 contiguous acres, including 4,575 acres currently under a lease and mining permit and 190,926 acres under a lease-option and exploration/testing permit.

At full capacity, Alta Mesa is capable of producing 1.5 million lb/y of U3O8. Energy Fuels has current production centers at its White Mesa mill in Utah and its Nichols Ranch in-situ recovery operations in Wyoming. The White Mesa mill is the only conventional uranium mill currently operating in the United States and has a licensed capacity of 8 million lb/y of U3O8. The Nichols Ranch production center has a licensed capacity of 2 million lb/y of U3O8.

As featured in Womp 2016 Vol 07 - www.womp-int.com