Sep. 15 at 7:44 AM
$UUUU The Energy Fuels Q2 2025 results highlight the company’s dual narrative: uranium production on one side, rare earth ambitions on the other. The centerpiece is its pilot-scale production of heavy rare earth element (HREE) oxides at the White Mesa Mill, including dysprosium at ~99.5% purity. Management projects commercial-scale output by Q4 2026, but pilot plants are promises, not businesses. Energy Fuels has also signed an MOU with
$PKX POSCO International & partnered with
$CC Chemours to link its rare earth supply chain, aiming at magnets, robotics, & defense applications. The partnerships sound strategic, though the path from MOU to margin is long & uncertain. Risks are straightforward: pilot projects may never scale, capital & regulatory hurdles remain, demand for HREEs must hold, & uranium/rare earth pricing is volatile. Technical complexity in separation, purification, & environmental compliance adds further fragility.
