Energy Fuels Inc. reported a net loss of $12.06 million for the third quarter ended September 30, 2024, a decrease from net income of $10.563 million in Q3 2023. Total revenues for the quarter were $4.05 million, down 63% from $10.987 million in the prior year period, primarily due to lower uranium sales revenue.
The company maintained a strong balance sheet with $183.155 million in working capital as of September 30, 2024. Operational highlights included adding a new long-term U.S. utility customer, completing a spot sale of U3O8, and commencing processing of a large uranium feedstock stockpile at the White Mesa Mill, which is expected to continue into 2025.
Energy Fuels also noted the successful commissioning of its rare earth element (REE) separation circuit during the quarter, demonstrating commercial-scale production capabilities. The acquisition of Base Resources Limited on October 2, 2024, was highlighted as a significant strategic step to secure rare earth feedstocks globally and expand domestic processing capacity.
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