Energy Fuels Inc. (TSX:EFR) announced it will shift its short-term focus toward lower cost sources of uranium production within its asset portfolio.
As quoted in the press release:
Specifically, Energy Fuels will concentrate on mining its lower cost, high-grade breccia pipes in northern Arizona and on processing alternate feed materials at the White Mesa Mill which have no associated mining cost.
As a result of this revised production strategy, Energy Fuels will be placing the Beaver and Daneros properties on the Colorado Plateau on standby over the course of the first quarter of FY 2013. In addition, the Company will cease mining at the Pandora property on the Colorado Plateau during the second quarter of FY 2013, pending the depletion of its identified uranium and vanadium resources. Energy Fuels will closely monitor market conditions and evaluate reopening the Beaver and Daneros mines at the appropriate time. Core mining expertise will be retained at these locations during the standby period.