By Brenda León
Energy Fuels reported a narrower second-quarter loss on higher revenue from sales of uranium and rare earth carbonate.
The Lakewood, Colo.-based mining company on Friday reported a loss of $4.9 million, or 3 cents a share, for the quarter ended June 30, compared with a loss of $18.1 million, or $0.11 a share, in the same quarter a year earlier. Analysts polled by FactSet expected the company to post a loss of 3 cents per share.
Revenue rose to $6.9 million from $6.5 million, as the company sold 80,000 pounds of uranium to a major U.S. nuclear utility and 127 metric tons of rare earth element carbonate.
The company said it took on added expenses tied to preparing four of its uranium mines for production and developing commercial rare earth element separation capabilities.
Write to Brenda León at [email protected].
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