Energy Fuels Inc. · TSX:EFR
Energy Fuels — Investor Presentation (March 2011)
23 slides from Energy Fuels's investor presentation, March 2011
Slide 1: Energy Fuels Inc. – Advancing Toward Production
Energy Fuels Inc. TSX: EFR Advancing Toward Production March 2011 Energy Fuels has leveraged its property portfolio with an experienced management team to re-open US uranium mines and develop the first new uranium mill to be built in the US in 30 years
Slide 2: Forward Looking Statements
Forward Looking Statements Certain of the information contained in this presentation constitutes "forward- looking information" (as defined in the Securities Act (Ontario)) and "forward- looking statements" (as defined in the Private Securities Litigation Reform Act of 1995) that are based on expect
Slide 3: Highlights
Highlights EFR is consolidating the highest grade conventional uranium resource properties in the U.S., has fully permitted two mines in an established uranium district, and licensed a new uranium/vanadium mill in early 2011. The Company is positioned to be the lowest risk, sustainable uranium produ
Slide 4: Corporate Financial Overview
Corporate Financial Overview Capitalized to advance the goals of the company Ticker TSX: EFR US Pink Sheet: EFRFF 52 Week Range $0.13 - $1.48 Mkt. Cap- $140 million Shares Outstanding 98.3 M (Basic) Major Institutional Holders Dundee Resources 19.2 M 19.8% Warrants None Pinetree Capital 4.5 M 4.6% O
Slide 5: Management Team
Management Team Highly experienced in uranium and mineral production Stephen P. Antony, MBA, • Over 30 years experience in conventional and ISL mining and processing with Mobil, Power Resources and Energy Fuels Nuclear Inc. P. Eng • Registered professional engineer President & CEO • Graduate of Colo
Slide 6: Board of Directors
Board of Directors Experienced uranium and mining Board J. Birks Bovaird • Financial advisory consulting to financial services industry since early 1970’s (Chairman) Bruce Hansen, MBA • Chief Executive Officer of General Moly Inc. and former CFO, Newmont Mining Corp. Various senior management roles
Slide 7: Energy Fuels – Attractive Risk Profile
Energy Fuels – Attractive Risk Profile EFR’s risk profile is among the lowest in the uranium sector • Energy Fuels uniquely positioned to minimize risks in a uranium mining investment Resource and • Regional mining history coupled with the well documented resource base in the area reduce resource an
Slide 8: EFR – A Two Commodity Mining Company
EFR – A Two Commodity Mining Company Company provides exposure to Uranium and Vanadium Uranium Vanadium • A global utility fuel market • A global steel industry market as an • Typically bought on contracts alloying agent (92% of V demand) • Terms of several years to assure • Growing potential as a l
Slide 9: Energy Fuels' District Focus
Energy Fuels’ District Focus Focused on the states of CO, UT, and AZ March 2011 8
Slide 10: Geologic and Resource Environment
Geologic and Resource Environment Developing properties in a prolific and established uranium region • Energy Fuels’ properties and mill site strategically located • Operations in one of the historically highest producing regions in the US • Highest grade uranium deposits available in the US • An en
Slide 11: District Production History
District Production History Long history in the district of significant uranium production • Between 1948 and 1990, ~250 million pounds U3O8 produced from Colorado and Utah; averaging ~6 million pounds per year • Production ceased due to falling U3O8 prices, not resource depletion • Conventional und
Slide 12: U3O8 Resource Status (Colorado Plateau)
U3O8 Resource Status (Colorado Plateau) Low risk resource with significant upside potential Measured & Indicated Inferred Property Tons Grade Lbs. Tons Grade Lbs. Whirlwind Mine 169,129 0.30% 1,003,322 437,100 0.23% 2,000,000 Energy Queen Mine 223,690 0.31% 1,395,885 67,780 0.27% 366,250 San Rafael
Slide 13: Key Property – Whirlwind Mine
Key Property – Whirlwind Mine Fully-permitted past producing mine • Mine Fully Permitted • Mesa County Conditional Use Permit 12/18/07 • DRMS 112d (State of Colorado) – 2/21/08 • BLM Plan of Operations (FONSI) – 9/8/08 • All environmental and permit related construction complete • 65 Miles from Piño
Slide 14: Key Property – Energy Queen Mine
Key Property – Energy Queen Mine Fully-permitted past producing mine • Mine rehabilitation underway • Detailed Capital Cost Estimate developed for rehabilitation • 39 Miles from Piñon Ridge Mill • Mining and water discharge permits in place • Utah DOGM Permit transferred from Denison and amended for
Slide 15: Key Property – San Rafael District
Key Property – San Rafael District Two past producing mines with significant resources • 2 San Rafael Deposits Acquired with Magnum Uranium merger; Deep Gold and Down Yonder • 132 Miles from Piñon Ridge Mill • NI 43-101 U3O8- 3.4 million lbs. M&I @ 0.23% & 1.9 million lbs. Inf. @ 0.21% • Historic Di
Slide 16: Exploration Properties
Exploration Properties 4,000 Acre Position in Arizona Strip; under-explored growth area • Historical “Strip” production in excess of 20 million lbs. • Historical grades average 0.65% U3O8 • EFR controls 24 targets – 5 with confirmed breccia pipe structures • Proprietary database and strong technical
Slide 17: Energy Fuels' Piñon Ridge Mill
Energy Fuels’ Piñon Ridge Mill The key to commercial production • Uranium and vanadium circuits • 500 tpd licensed capacity Evaporation Ponds Admin Building Tailings Cells Ore Pads Mill N March 2011 16
Slide 18: Mill Location
Mill Location In the heart of the Uravan Mineral Belt Utah Colorado March 2011 17
Slide 19: Piñon Ridge Mill Schedule
Piñon Ridge Mill Schedule On track for first uranium production in 2012 Q4- 09 Q1- 10 Q2- 10 Q3- 10 Q4- 10 Q1- 11 Q2- 11 Q3- 11 Q4- 11 Q1- 12 Q2- 12 Q3- 12 Q4- 12 License Application Submitted CDPHE License Application Review License Approved (1/05/11) License Appeal Process Detailed Engineering Mil
Slide 20: Radioactive Material License Application
Radioactive Material License Application • Submitted to CDPHE on November 18, 2009 • Submitted to CDPHE on November 18, 2009 • Determined to be complete on December 18, 2009 • Determined to be complete on December 18, 2009 • Approved January 5, 2011 • Approved January 5, 2011 March 2011 19
Slide 21: Piñon Ridge Mill – Key Points
Piñon Ridge Mill – Key Points • Lead licensing agency- CDPHE; NOT the US NRC • Unanimous approval of County Special Use Permit on 9/30/2009 • License application submitted to CDPHE, November 18, 2009 deemed complete December 18, 2009 APPROVED January 5, 2011 • Major community support • Signifi
Slide 22: Energy Fuels
Energy Fuels A low-priced, low-risk call on: • The first new uranium mill to be built in the US in 30 years • The highest grade uranium resource available globally, outside northern Saskatchewan • A low-cost vanadium by-product stream • A proven management and technical team • The future of the nucl
Slide 23: Contact
Contact Suite 500 - 2 Toronto Street 44 Union Blvd., Suite 600 Toronto, Ontario Lakewood, Colorado M5C 2B6 80228 Gary Steele, Investor Relations Telephone (303) 974-2140 Toll-Free (888) 864-2125 Email: investorinfo@energyfuels.com Web Site: www.energyfuels.com March 2011 22