Welcome to our dedicated page for Westwater Resources news (Ticker: WWR), a resource for investors and traders seeking the latest updates and insights on Westwater Resources stock.
Westwater Resources, Inc. (WWR) is a diversified energy materials development company with a focus on exploring and developing a range of critical materials including lithium, graphite, uranium, and vanadium. The company’s primary project, the Coosa Graphite Project, spans approximately 41,965 acres in east-central Alabama, dedicated to the mining and production of high-purity natural graphite key for battery applications.
Westwater Resources also manages significant lithium projects such as the Columbus Basin Project covering around 14,200 acres in western Nevada and the Sal Rica Project covering approximately 13,260 acres in northwestern Utah. Apart from these, the company holds interests in various uranium projects, including extensive properties in New Mexico and Texas.
The company initially started as Uranium Resources, Inc., focusing primarily on uranium exploration and development. In August 2017, it rebranded to Westwater Resources, Inc. to better reflect its expanded scope into other energy materials.
Based in Centennial, Colorado, Westwater Resources is poised at the forefront of the evolving energy materials sector, especially with the growing demand for battery-grade materials driven by the electric vehicle and renewable energy markets. The company is committed to advancing its projects responsibly, ensuring sustainability and environmental stewardship in its operations.
Recent achievements include substantial progress in the Coosa Graphite Project, advancements in lithium extraction technologies, and strategic partnerships aimed at enhancing resource development and market reach. The company continues to explore new opportunities and remains focused on delivering long-term value to its shareholders.
Westwater Resources (NYSE American: WWR) announced a production milestone in its pilot plant operations, achieving over 11 metric tonnes of battery-grade graphite products. As of March 18, production includes 9.7 metric tonnes of ULTRA-PMG™, 1.5 metric tonnes of precursor for ULTRA-CSPG™, and 0.2 metric tonnes of ULTRA-DEXDG™. These products are intended for testing by potential customers, with shipments expected within 30-90 days. The pilot program supports a Definitive Feasibility Study aimed at finalizing plans for a commercial production facility, slated for commissioning in Q4 2022.
Westwater Resources (NYSE: WWR) announced that its common stock will begin trading on the NYSE American exchange starting March 19, 2021. CEO Christopher M. Jones heralded this move as a crucial milestone and an opportunity to attract a larger investor base amidst rising global interest in mineral investments. Westwater is positioned to capitalize on the growing electric vehicle and battery markets, especially with recent announcements from major industry players like General Motors regarding new battery facilities in the U.S. The company's Coosa Graphite Project is the most advanced flake graphite project in the continental U.S.
Westwater Resources (NASDAQ: WWR) announced its transfer from the Nasdaq Capital Market to the NYSE American, effective March 19, 2021. CEO Christopher M. Jones emphasized the NYSE's prestigious platform for growing companies. With a rising demand for battery-grade materials, particularly from the electric vehicle market, Westwater's Coosa Graphite Project aims to capitalize on this trend. The last trading day on Nasdaq is March 18, 2021, and the stock will maintain its symbol 'WWR'.
Westwater Resources (Nasdaq: WWR) commends the President's Executive Order from February 24, 2021, aimed at enhancing supply chains for high-capacity batteries essential for electric vehicles. This initiative seeks to reduce U.S. dependency on imports for battery-grade graphite, with the Coosa Graphite Deposit in Alabama positioned to meet this demand. CEO Christopher M. Jones highlights potential benefits for financing and project permitting. The order emphasizes collaboration among government agencies to safeguard critical mineral supply, placing graphite as a focus due to current reliance on China.
Westwater Resources (Nasdaq: WWR) reported its 2020 results, emphasizing a strategic shift to battery-grade graphite after selling uranium assets for $1.8 million in shares. The company aims to produce commercial quantities of graphite by 2023. Net cash used in operations totaled $15.2 million, up from $10 million in 2019, primarily due to increased development expenses. Westwater's cash position improved significantly to $50.3 million as of December 31, 2020, from $1.8 million the previous year. The company plans to raise additional funds for its graphite project.
Westwater Resources, Inc. (Nasdaq: WWR) has initiated the Definitive Feasibility Study (DFS) for its Coosa Graphite Project in Alabama, engaging a team led by Samuel Engineering. This study involves detailed engineering plans for a processing plant with a phased capacity increase from 7,500 to 15,000 metric tonnes per year. The DFS aims to outline cost estimates and prepare for construction financing, with completion expected by the end of Q2 2021. Production is projected to begin in 2023, aligning with market demand in electric vehicles and energy storage.
Westwater Resources (Nasdaq: WWR) will host a conference call on February 16, 2021, at 11:00 a.m. ET to discuss its financial results for 2020 and outlook for 2021. CEO Chris Jones and other executives will provide updates on the Coosa Graphite Project and pilot plant operations. The company recently completed the sale of its North American uranium assets to enCore Energy for $1.8 million in shares, reducing annual costs by $4 million. The conference call will also be available via a live webcast on their website.
Westwater Resources (NASDAQ: WWR) announced the sale of its uranium assets in New Mexico and Texas to enCore Energy Corp. for $1.8 million in shares and royalties. The agreement transfers a $6 million asset retirement obligation and allows Westwater to focus on its battery-grade graphite production, particularly the Coosa Graphite Project in Alabama. With over $50 million in treasury, the company anticipates freeing up $4 million annually from reduced costs. Pilot operations have achieved over 99.9% graphite purity, supporting plans for a full-scale production facility by late 2022.
Westwater Resources (NASDAQ: WWR) has announced progress at its pilot plant operations in Germany and the U.S., aiming to produce over 10 metric tonnes of battery-grade graphite products: ULTRA-PMG™, ULTRA-CSPG™, and ULTRA-DEXDG™. This initiative enhances the design for a full-scale production facility. The operations will yield products for customer testing, with expectations to complete a Bankable Feasibility Study by mid-2021. The pilot plant will utilize innovative processes while being environmentally sound, contributing to the expanding EV and battery markets.
Westwater Resources (NASDAQ: WWR) reported its third-quarter results for 2020, highlighting a strategic pivot towards battery-grade graphite production. The Coosa Graphite Project, the most advanced in the U.S., is set to commence pilot plant operations by March 2021. During the quarter, Westwater delivered 30 metric tonnes of graphite to Germany for testing and filed a patent application for its purification technology. Despite a net loss of $9.75 million, the company anticipates significant progress in 2021, aided by a substantial cash reserve of $53.3 million.
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