Members of the Energy Fuels Inc. board of directors and management team recently expressed their confidence in the growing uranium market through the purchase of additional shares in the company.
"There are a number of key developments in the uranium sector occurring right now that provide us with substantial optimism as we head into 2016," Stephen Antony, president and CEO of Energy Fuels, said. "China continues its aggressive investment in nuclear energy. The U.S., which already consumes more uranium than any other nation, is in the process of starting its first new nuclear reactor in over 20 years. Japan is continuing to restart its large reactor fleet."
Antony said growing demand for uranium means the current low prices likely will rise in the coming year.
"While worldwide uranium demand is growing, the low uranium prices of the past few years have slowed new investment in exploration and mine development," Antony said. "We believe these and similar factors are likely to create substantial future supply constraints, resulting in rising uranium prices. Energy Fuels is continually improving our ISR and conventional production, development and permitting activities to take advantage of today’s low uranium prices, while we position the company for a uranium market recovery.”
Ames Brown, a member of the Energy Fuels board of directors, recently acquired control or direction over an additional 1 million common shares of the company, giving him more than 1,739,520 common shares, or approximately 3.8 percent of total issued and outstanding common shares of the company.
“The company appreciates Mr. Brown’s strong vote of confidence in Energy Fuels’ uranium production assets, finances and management," Antony said.
Antony and Paul Goranson, executive vice president of ISR Operations, also recently purchased additional common shares of the company.
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