Energy Fuels Reports $29.2 Million Q3 Revenue as Rare Earth Expansion Faces Commercial Test

Highlights

• Energy Fuels reported $29.2M in Q3 revenue and a $52.4M net loss, with uranium driving $28.45M in sales at $88.90 per pound.
• Rare earth operations lost $8 million as White Mesa's dysprosium and terbium oxide production remains at pilot scale with commercial expansion targeted for 2028.
• General Motors terminated its magnet supply agreement with VAC, introducing material valuation uncertainty into Energy Fuels' proposed $718M acquisition.
• The VAC deal would require roughly 25% additional shares relative to September's outstanding count, raising significant dilution concerns for investors.
• REEx rates Energy Fuels a speculative HOLD, citing strategic importance of U.S. rare earth production but unproven profitable execution.