We recently published 10 Stocks With Unbelievable Gains This Week. Energy Fuels Inc. (NYSEAmerican:UUUU) is one of this week’s biggest players.
Energy Fuels skyrocketed by 41.82 percent week-on-week, closing Friday’s session at $9.36 versus the $6.6 finish on July 11, bolstered by news that it has begun the production of heavy rare earth oxide.
In a statement, Energy Fuels Inc. (NYSEAmerican:UUUU) said that it is now underway with the production of Dysprosium oxide, also known as dysprosia, at its White Mesa Mill in Utah.
The chemical compound is expected to have a minimum purity of 99.5 percent and exceed 99.9 percent purity.
Energy Fuels Inc. (NYSEAmerican:UUUU) said it targets to complete the production of the first kilogram of the compound within the next 30 days, and expects to continue production on a pilot scale until the end of September 2025, at which it expects to have produced 15 kgs—enough to generate residuals to feed its Terbium circuit beginning October 2025.
Copyright: tomas1111 / 123RF Stock Photo
If progress continues as planned, the company also targets to kick off production of samarium oxide on a pilot scale in January 2026.
According to Energy Fuels Inc. (NYSEAmerican:UUUU) President and CEO Mark Chalmers, the company is now in a unique position to produce the heavy rare earth oxides needed by US industries to make rare earth metals, alloys and magnets.
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This article is originally published at Insider Monkey.