Business
Westwater Resources Reports First Quarter 2019 Operating Results
CENTENNIAL, Colo.--(BUSINESS WIRE)--Westwater Resources, Inc. (Nasdaq: WWR), an energy materials development company, announced today its results for the first
About this update from Westwater Resources, Inc.
[{"type":"text","content":"CENTENNIAL, Colo.--(BUSINESS WIRE)--Westwater Resources, Inc. (Nasdaq: WWR), an energy materials development company, announced today its results for the first quarter of fiscal year 2019, and discussed its business outlook and its energy materials business development for the remainder of 2019. Christopher M. Jones, President and Chief Executive Officer, said, “The beginning of 2019 has been quite eventful for Westwater, where we are starting to see clear evidence that our plans for generating shareholder value are coming to fruition. Each of our energy materials segments have seen meaningful progress. For example, at this time last year, we had completed our acquisition of Alabama Graphite Corp., for the purpose of fast-tracking the development of battery grade graphite production capacity in Alabama. Today, we have independently-sourced data that aligns closely with our expectations regarding the quality and scope of the graphite at the Coosa Project. In addition, we have discovered significant vanadium mineralization at the Project that could bring a meaningful added opportunity to the Project. As well, the State of Utah’s grant of water rights for Sal Rica is a positive for our lithium business. Our uranium reclamation success in Texas also speaks to the hard, high quality work our employees continue to execute as we push this company forward. I remain confident that our operational strength, as well as the quality of our assets, should provide value for our shareholders.” Highlights for 1Q-2019 and to Date VANADIUM DISCOVERY: On February 19, 2019, Westwater announced that it has received independent lab results that demonstrated a wide-spread distribution of vanadium mineralization throughout the central portion of the Company’s mineral holdings within the Coosa Project in Alabama. On April 9, 2019, the Company announced a new drilling and sampling exploration plan to explore for and define vanadium resources, and to further quantify the graphite deposit, on five target areas at its Coosa Project in Alabama. The Company believes that this exploration plan could advance and enhance the evaluation of its existing graphite resource, including the possibility for an extension of that mineralization. The Company anticipates posting a Technical Report summarizing the vanadium exploration plan on the WWR website in May 2019. GRAP...