UUUU — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-05

• The Company is rapidly becoming the first western company with geographically diversified commercial capabilities across every critical step of the rare earth value chain. The Company has an REE feedstock supply source at its “shovel ready” Donald Project in Australia, with respect to which the Comp…

• The Company is mining ore and mineralized material at its Pinyon Plain, La Sal and Pandora mines. Such uranium-bearing ore and mineralized material is processed at the Mill and/or stockpiled at the mines or Mill for future processing, subject to market conditions, contract requirements and the Mill’…

• Three Months Ended June 30, 2026Six Months Ended June 30, 2026

• (1) Weighted average grade for the three and six months ended June 30, 2026 was 0.71% and 0.91%, respectively.

• (2) Contained pounds of U3O8 within ore or mineralized material from the La Sal and Pandora mines, which constitute a portion of the La Sal Project.

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• The Company mined ore containing approximately 375,000 pounds of U3O8 from the Pinyon Plain mine with an average grade of 1.12% and mined mineralized material containing approximately 50,000 pounds of U3O8 from its La Sal and Pandora mines for a total of approximately 425,000 pounds of contained U3O…

• Company’s inventories of U3O8 contained in stockpiled ore and mineralized materials. The Company currently expects to process any additional stockpiled and mined ore and mineralized material from its Pinyon Plain, La Sal and Pandora mines with the remainder stockpiled at the mines or Mill for proces…

• The Company plans to continue to maintain its other uranium projects and facilities in a state of readiness for the purpose of restarting mining activities on an expedited basis, as contract obligations and market conditions may warrant. To this end, the Company expects to continue rehabilitation an…

• The Company also accelerated permitting and development on its Roca Honda Project, a large, high-grade conventional project in New Mexico, its Bullfrog Project in Utah, and its EZ Project in Arizona, which together with its Sheep Mountain Project (a large conventional project in Wyoming) could expan…

• The Mill processed stockpiled conventional ore and mineralized materials and Alternate Feed Materials, which resulted in 790,000 pounds of finished U3O8 production during Q1 2026. The Company commenced its conventional ore processing campaign at the Mill in Q4 2025 as planned, which is expected to c…

Text added vs the prior filing · source: 10-Q · 2026-08-05

• Other than as set out below, as of the date of this Quarterly Report on Form 10-Q, there have been no material changes in our risk factors from those disclosed in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

• There can be no assurances that all conditions to the Conditional OSC Financing will be satisfied, that the proposed financing will be completed or that the proposed financing will not be modified, challenged or impaired in the future, each of which could have a material adverse effect on our busine…

• The Conditional OSC Financing is subject to further due diligence, finalization of agreements, closing conditions and approvals.

• There can be no assurances that all conditions will be satisfied and that the proposed financing will be completed, and that funding of and support for the transactions contemplated by the financing commitment will not be modified, challenged or impaired in the future, which could have a material ad…

• In the event of any termination or frustration of the Conditional OSC Financing, in full or in part, we may have limited recourse and remedies available against the OSC and the U.S. federal government.

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• There have been no material changes from the risk factors disclosed in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025, other than as disclosed in this Form 10-Q for the three months ended March 31, 2026.

Text added vs the prior filing · source: 10-Q · 2026-08-05

• During the period covered by this Quarterly Report on Form 10-Q, no director or officer of the Company adopted or terminated a ‘Rule 10b5–1 Trading Arrangement’ or ‘non-Rule 10b5–1 trading arrangement,’ as each term is defined in Item 408 of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• On May 5, 2026, the Company, together with its wholly owned subsidiary Energy Fuels Resources (USA) Inc., entered into a new Employment Agreement with Ross R. Bhappu, newly appointed President and Chief Executive Officer and executive Director of the Company, having an effective date of April 16, 20…

• 1.Mr. Bhappu’s annual base salary was updated from the Original Agreement’s $550,000 to $600,000, subject to review and increase at the discretion of the Company (the “Revised Bhappu Base Salary”);

• 2.Any notice given by the Company or Mr. Bhappu not to renew the Bhappu Agreement after its initial two-year term shall be provided in writing at least one hundred eighty (180) days, rather than ninety (90) days as contemplated by the Original Agreement, prior to the end of the employment period the…

• 3.The Company may terminate the Bhappu Agreement for just cause, without just cause or in the event of a disability. Mr. Bhappu may terminate his employment for “good reason” upon occurrence of the events specified in the Bhappu Agreement. In the event Mr. Bhappu’s employment is terminated by the Co…

• However, in the case of termination following a Change of Control (as defined in the Bhappu Agreement), Mr. Bhappu or his estate will be entitled to severance pay equal to 2.99 times the sum of the Revised Bhappu Base Salary and the Bhappu Target Cash Bonus for the full year in which the date of ter…