Energy Fuels Inc. · TSX:EFR

Energy Fuels — Investor Presentation (August 2013)

35 slides from Energy Fuels's investor presentation, August 2013

  1. Slide 1: America's Premier Uranium Producer

    A M E R I C A’ S P R E M I E R U R A N I U M P R O D U C E R August 2013 TSX | EFR OTCQX | EFRFF

  2. Slide 2: Forward Looking Statements

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF 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

  3. Slide 3: Notice Regarding Technical Disclosure

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF NOTICE REGARDING TECHNICAL DISCLOSURE This presentation may use the terms "Measured", "Indicated“ and "Inferred" Resources. U.S. investors are advised that, while such terms are recognized and required by Canadian regulatio

  4. Slide 4: Corporate Overview

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF C O R PO R ATE O VERVIEW U R A N I U M MA R K ET O U T L OOK EN ER G Y F U EL S’ O PER AT IN G PL AT F ORM PR O PO SED A C Q U ISITION O F ST R AT H MOR E M I N ER A LS F IN A N C IALS & G U ID A NC E

  5. Slide 5: Energy Fuels' Highlights

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF ENERGY FUELS’ HIGHLIGHTS  The Only Conventional Uranium Producer in the U.S.  ~1.2 million lbs. of FY-2013 production, accounting for ~25% of all U.S. uranium production  Producing Mines in the Highest-Grade Uranium Depo

  6. Slide 6: Corporate Mission & Objectives

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF CORPORATE MISSION & OBJECTIVES Energy Fuels’ Mission: Become the dominant uranium producer in the U.S. and a mid-tier producer globally Operating Objectives Current (FY-2013) Potential (Weak Uranium Price) (Strong Uranium P

  7. Slide 7: Energy Fuels' Corporate Strategy

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF ENERGY FUELS’ CORPORATE STRATEGY Prudence in the Current Price Environment…  Focus production levels to satisfy sales contract requirements  Utilize lower-cost sources of production to meet sales contract requirements  I

  8. Slide 8: Snapshot of Energy Fuels

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF SNAPSHOT OF ENERGY FUELS $0.40 Share Performance 12.0 10.0 Share Volume (millions) $0.30 Share Price (C$) 8.0 $0.20 6.0 4.0 $0.10 2.0 $0.00 0.0 Jun-12 Aug-12 Oct-12 Dec-12 Feb-13 Apr-13 Jun-13 Aug-13 Volume Price Capitaliza

  9. Slide 9: Uranium Peer Group Comparison

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF URANIUM PEER GROUP COMPARISON(1) Share Market Enterprise U3O8 Resources Production Price Cap Value (MMlb) (2) EV / Resource Price / Price / (000's lbs) (3) (US$ in millions) (US$) (US$MM) (US$MM) M&I Inferred M&I M&I + I NA

  10. Slide 10: Board of Directors & Management

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF BOARD OF DIRECTORS & MANAGEMENT Executive Team Board of Directors Stephen P. Antony J . Bi r k s Bo v a i r d - Ch a i r m a n o f th e Bo a r d President & Chief Executive Officer  Involved in the financial services indus

  11. Slide 11: Uranium Market Outlook

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF C O R PO R ATE O VERVIEW U R A N I U M MA R K ET O U T L OOK EN ER G Y F U EL S’ O PER AT IN G PL AT F ORM PR O PO SED A C Q U ISITION O F ST R AT H MOR E M I N ER A LS F IN A N C IALS & G U ID A NC E

  12. Slide 12: World Nuclear Reactor Forecasts

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF WORLD NUCLEAR REACTOR FORECASTS(1) Significant Supply & Demand Imbalances Expected 1,100 $160 Spot Price of Uranium 1,000 $140 900 $120 # Reactors Reactors Proposed 800 $100 Reactors Planned 700 $80 Reactors In Construction

  13. Slide 13: Global Competition for Strategic Commodity

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF GLOBAL COMPETITION FOR STRATEGIC COMMODITY(1) 51.3 Uranium Requirements U.S. = 90% Dependent on Imports Uranium Production 24.1 25.4 17.0 14.3 12.1 10.3 6.1 5.5 5.0 4.3 4.4 2.2 1.5 2.2 0.0 - - - - USA F ran ce Ch in a Russi

  14. Slide 14: Significance of the US Market

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF SIGNIFICANCE OF THE US MARKET U.S. is the World’s largest consumer of uranium …  ~20% of U.S. electricity is generated from nuclear power  ~50 million lbs. U 3 O 8 per year consumed in U.S.  U.S. is 90%+ dependent on imp

  15. Slide 15: Energy Fuels' Operating Platform

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF C O R PO R ATE O VERVIEW U R A N I U M MA R K ET O U T L OOK EN ER G Y F U EL S’ O PER AT IN G PL AT F ORM PR O PO SED A C Q U ISITION O F ST R AT H MOR E M I N ER A LS F IN A N C IALS & G U ID A NC E

  16. Slide 16: Asset Summary

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF ASSET SUMMARY A Central Mill Supplied by Regional Mines 1 Operating Mill 2 Producing Mines 5 Permitted Mines on Standby 6 Permitted Development Projects 12 Additional Development Projects The leading position in three of th

  17. Slide 17: The White Mesa Mill

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF THE WHITE MESA MILL The Only Operating Conventional Uranium Mill in the U.S.  Reliable supplier of U 3 O 8 and V 2 O 5  Licensed Capacity: 2,000 tons of ore/day (and up to 8 million lbs. per year) Mill has produced ~4.5 m

  18. Slide 18: Alternate Feed Processing at White Mesa Mill

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF ALTERNATE FEED PROCESSING AT WHITE MESA MILL Higher-Margin Uranium Production with No Associated Mining Costs  Alternate Feed Defined: Uranium-bearing materials – other than conventional ore – with recoverable quantities o

  19. Slide 19: Energy Fuels' Marketing Strengths

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF ENERGY FUELS’ MARKETING STRENGTHS A Reliable U.S.-Based Supplier of U 3 O 8  White Mesa Mill has made nearly 4 million lbs. of on-time U 3 O 8 deliveries since 2008  Attractive to utility customers who require a secure, l

  20. Slide 20: Proposed Acquisition of Strathmore Minerals

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF C O R PO R ATE O VERVI EW U R A N I U M MA R K ET O U T L OOK EN ER G Y F U EL S’ O PER AT I N G PL AT F ORM PR O PO SED A C Q U I SITION O F ST R AT H MOR E MIN ER A LS F IN A N C IALS & G U ID A NC E

  21. Slide 21: Business Case for the Transaction

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF BUSINESS CASE FOR THE TRANSACTION Combines Assets that Belong Together  Well-defined synergies & complementary asset bases in the Southwest U.S. & Wyoming provide a compelling strategic rationale Creates a Dominant Uranium

  22. Slide 22: Transaction Synergies

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF TRANSACTION SYNERGIES Energy Fuels’ White Mesa Mill + Strathmore’s Roca Honda Project (CO/NM)  Roca Honda: One of the largest and highest -grade U 3 O 8 deposits in the U.S  Within trucking distance of the White Mesa Mill

  23. Slide 23: Strengthened Industry Relationships

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF STRENGTHENED INDUSTRY RELATIONSHIPS  KEPCO: Generates 93% of South Korea’s electricity; nuclear projects Worldwide  Energy Fuels’ and Strathmore’s largest shareholder  Affiliate of KEPCO is Energy Fuels’ largest uranium

  24. Slide 24: Combined Company: Pro Forma Resource Summary

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF COMBINED COMPANY: PRO FORMA RESOURCE SUMMARY Measured & Indicated Inferred Tons Grade Grade Lbs. U3O8 Lbs. V2O5 Grade Grade Lbs. U3O8 Lbs. V2O5 Tons (‘000) (‘000) (% U3O8) (% V2O5) (‘000) (‘000) (% U3O8) (% V2O5) (‘000) (‘0

  25. Slide 25: Financials & Guidance

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF C O R PO R ATE O VERVI EW U R A N I U M MA R K ET O U T L OOK EN ER G Y F U EL S’ O PER AT I N G PL AT F ORM PR O PO SED A C Q U I SITION O F ST R AT H MOR E MIN ER A LS F IN A N C IALS & G U ID A NC E

  26. Slide 26: Q3-2013 Financial Performance

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF Q3-2013 FINANCIAL PERFORMANCE Highlights Average Sales Price: $58.75 /lb. Cost of Production (1) : $38.82 /lb. U 3 O 8 Sales: 50,000 lbs. Adjusted Cost of Production (1) : $32.26 /lb. V 2 O 5 Sales: 315,000 lbs. U 3 O 8 Pro

  27. Slide 27: FY-2013 & Q4-2013 Guidance

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF FY-2013 & Q4-2013 GUIDANCE FY-2013  Sales: 1.00 million lbs. U 3 O 8 1.54 million lbs. V 2 O 5  Production: 1.15 million lbs. U 3 O 8 1.54 million lbs. V 2 O 5  Mining: Continuing at Arizona 1 and Pinenut mines through F

  28. Slide 28: Contact

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF CONTACT Energy Fuels Inc. Suite 500 -2 Toronto Street Toronto, Ontario M5C 2B6 Energy Fuels Resources (USA) Inc. 225 Union Blvd., Suite 600 Lakewood, Colorado 80228 TSX : EFR Stephen P. Antony OTCQX : EFRFF President & Chie

  29. Slide 29: Appendix

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF A PPEN D I X

  30. Slide 30: Energy Fuels' Primary Assets

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF ENERGY FUELS’ PRIMARY ASSETS The White Mesa Mill  Only conventional uranium mill operating in the U.S.  ~1.2 million lbs. of U 3 O 8 production (FY-2013)  Alternate Feed & Vanadium Circuits Arizona Strip Mines  Arizona

  31. Slide 31: Arizona Strip Mines

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF ARIZONA STRIP MINES High-Grade, Low-Cost Production  Arizona 1 Mine (Producing): Production expected through 2013  Pinenut Mine (Producing): Production commenced in July 2013  Canyon Mine (Development): Development began

  32. Slide 32: Sheep Mountain Project

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF SHEEP MOUNTAIN PROJECT 30+ Million lbs. of NI 43-101 Indicated Uranium Resource  Large stand-alone project in mining-friendly Wyoming with an existing mine permit  BLM Plan of Operations expected in 2014  NRC License exp

  33. Slide 33: Colorado Plateau Mines

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF COLORADO PLATEAU MINES Recently-Producing Mines On Standby & In Development  Beaver (La Sal Complex): Standby, as of Oct. 2012  Pandora (La Sal Complex):Standby, as of Dec. 2012  Daneros: Standby, as of Oct. 2012  Sunda

  34. Slide 34: Henry Mountains Complex

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF HENRY MOUNTAINS COMPLEX Permitted & Developed Mine in Utah  Energy Fuels’ 2 nd largest U 3 O 8 resource  ~20 million lbs. of NI 43- 101 resource (1)  Significant existing infrastructure  ~17-miles of existing undergroun

  35. Slide 35: 16.5% Stake in Virginia Energy Resources

    ENERGY FUELS INC. AMERICA’S PREMIER URANIUM PRODUCER TSX | EFR OTCQX | EFRFF 16.5% STAKE IN VIRGINIA ENERGY RESOURCES The Largest Known Uranium Deposit in the United States  Energy Fuels owns 16.5% of the outstanding common shares of Virginia Energy Resources Inc. (TSX-V : VUI)  Owns the Coles Hil

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