Energy Fuels Inc. · TSX:EFR
Energy Fuels — Investor Presentation (June 2006)
21 slides from Energy Fuels's investor presentation, June 2006
Slide 1: Energy Fuels Inc.
Slide 1 George Glasier, *Energy Fuels Inc. President and CEO (effective June 6 – subject to regulatory approval) TSX-V: VME Toronto, Ontario www.energyfuels.com
Slide 2: Forward Looking Statements
Slide 2 Forward Looking Statements Any statements in this presentation that may be considered forward looking are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. www.energyfuels.com
Slide 3: Directors & Officers
Directors & Officers Slide 3 George Glasier, J.D. Former VP Sales & Marketing & Counsel, President, CEO and Director Energy Fuels Nuclear –1978 - 1991 Irwin W. Mathisen, Bsc, P.Geo. Former VP Exploration, Energy Fuels Vice President – Exploration and Director Nuclear 1978- 1995 with over 30 years of
Slide 4: Corporate Overview
Corporate Overview Slide 4 O/S shares: 24 million Market Cap: $15 million TSX-V: VME (EFR beginning June 2006) Properties: Eleven Uranium / Vanadium properties in the state of Colorado, US Three VMS properties held in Ungava region of Quebec and Burnt Pond, Newfoundland 2006 Exploration Budget: CAD$
Slide 5: Corporate Overview
Corporate Overview Slide 5 Near-term objective is to become a fully-integrated uranium/ vanadium production company Experienced technical management team with decades of conventional uranium mining expertise Acquiring & developing quality uranium properties primarily in the Uravan Mineral Belt www.e
Slide 6: George Glasier
George Glasier Slide 6 President & CEO is one of the few subject matter experts with in-depth knowledge of the uranium industry… Former Principal and VP Sales & Marketing, Corporate Counsel to Energy Fuels Nuclear Inc. (“EFNI”) In-depth knowledge of sales & marketing uranium to international utiliti
Slide 7: Management: Energy Fuels Resources Corporation
Slide 7 Management: Energy Fuels Resources Corporation Michael Moore Former independent mine producer with over 30 yrs of mining experience and former Mine Manager with Union Carbide & Atlas Minerals Terry Bunker Over 30 yrs in underground mining as former Mine Superintendent with Union Carbide and
Slide 8: Management: Energy Fuels Resources Corporation
Slide 8 Management: Energy Fuels Resources Corporation Wayne Seick Over 30 years as Uranium Geologist with EFNI and Western Nuclear; former overall Area Manager of 30 exploration geologists at EFNI under direction of Irwin Mathisen Jane Zimmerman Over 20 years as Uranium/Gold Geologist with Cotter M
Slide 9: Recent Developments
Recent Developments Slide 9 VME has made recent changes to better position itself … Energy Fuels Resources Corp., a newly- created Colorado corporation was acquired in January 2006 Property portfolio has been expanded with eleven Uranium properties of merit Assembled technical management team Corpor
Slide 10: Key Strength's
Key Strength’s Slide 10 VME has technical expertise in Uranium production with in- depth understanding of mining costs … Extensive experience in mining for U3O8 and V205 International utility & other partners Milling Facility in the near term Pursuing properties with proven or near-proven lbs Knowle
Slide 11: Background: Energy Fuels Nuclear Inc.
Background: Energy Fuels Nuclear Inc. Slide 11 A private US company which annually produced 5 million lbs of Uranium in the 1980’s… The largest producer in the US in the 1980’s Constructed the Blanding Mill prior to sale to IUC in late 1990’s $60 million of U3O8 forward contracts with U.S., European
Slide 12: Current Property Portfolio
Current Property Portfolio Slide 12 VME has expanded its property portfolio with the acquisition of newly-created Energy Fuels Resources Corp. Uranium Properties (Uravan Belt in Colorado) • 284 claims on option for lease • Average grades of 0.25% U3O8 and 1.50% V2O5 • Previous mined or strategic Eco
Slide 13: 2006 Strategy
2006 Strategy Slide 13 Actively securing properties under Energy Fuels name … Target higher grade U308 properties with V205 • internationally but focus on Colorado plateau • Active staking program to secure properties of merit • Outright purchases from property owners • Explore joint venture with ot
Slide 14: 2006 Strategy
2006 Strategy Slide 14 Actively securing properties under Energy Fuels name … Drilling and mine development on existing properties Advancement of projects to 43-101 compliant status Treasury is fully funded • Exploration & development • Further financing www.energyfuels.com
Slide 15: Uranium Market 2006 Outlook
Uranium Market 2006 Outlook Slide 15 U3O8 has experienced a stable climb to US$43.00 / lb over the last two years… Decade-long low uranium prices & dearth of exploration has resulted in long-term shortage Currently – very tight supply/demand with rising prices • Limited number of uranium producers t
Slide 16: Spot Market for Uranium
Spot Market for Uranium Slide 16 Source:UXC www.energyfuels.com
Slide 17: Supply / Demand Gap
Supply / Demand Gap Slide 17 Current production is only 55% of worldwide demand… Annual consumption 175 million lbs • Primary production 100 million lbs • Secondary sources for 75 million lbs shortfall from existing inventory, reprocessing and depleted uranium enrichment tailings Inventories declini
Slide 18: U3O8 in the Cost of Electricity
U3O8 In the Cost of Electricity Slide 18 Fuel 11% 3.5% U3O 8 O&M 32% 5.1% Conversion and Enrichment 2.4% Fuel Fabrication Capital 57% • Doubling of the total fuel cost would add 11% to the cost of electricity in a new Nuclear Power Plant. • Doubling of the cost of U3O8 would add 3.5% to the electric
Slide 19: Power Industry Production Costs
Power Industry Production Costs Slide 19 Fuel as a Percentage of Electric Power Industry Production Costs (2003) 100% 25% 80% 60% 75% 90% 87% 40% 75% 20% 25% 10% 13% 0% Nuclear Coal Gas Oil Source: RDI Updated 10/04 O&M Fuel www.energyfuels.com
Slide 20: Nuclear Power Outlook
Nuclear Power Outlook Slide 20 Global interest for nuclear energy is rising … Global energy needs growing exponentially Nuclear energy doesn’t contribute to air pollution, global warming Global push to construct and upgrade nuclear reactors 29 new reactors – China, India, South Korea, Japan & Russia
Slide 21: Contact
Contact Slide 21 120 Adelaide St. West, Suite 905 Toronto, Ontario M5H 1T1 Tel: 416-777-2007 Toll-free: 888-442-8436 Fax: 416-777-2008 Contact: George E.L. Glasier, President & CEO Symbol TSX-V: EFR * VME Email: info@energyfuels.com * Web Site: www.energyfuels.com * (* effective June 2006 subject to