Energy Fuels Extends Uranium, Vanadium Supply Potential with Utah Lease Acquisition

By Midnight Trader,  October 17, 2011, 09:06:57 AM EDT

Energy Fuels Inc. (EFR.TO) has purchased a 20-year mining lease in southeast Utah's Sage Plain district from privately held Nuclear Energy Corp. for $1.5 million, now owning sufficient property to start the permitting process for uranium and vanadium mining.

Company officials said the location has the potential to become the third mine that would supply its proposed Pinon Ridge mill near Naturita, Colo., supplementing future production from the already permitted Whirlwind Mine near Gateway, Colorado, and the Energy Queen Mine near La Sal, Utah.

The Skidmore Lease is located on approximately 709-acres in San Juan County, Utah, and includes large portions of the historic Calliham Mine. It is also adjacent to the Calliham Lease, the Crain Lease, the Sage Properties, and other mining claims already owned or controlled by Energy Fuels.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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