UUUU’s Bullfrog Project Croaks to Life: A Preliminary Economic Assessment That’s Actually…Good?

Welcome back to the ongoing saga of Energy Fuels Inc. (UUUU), where we decode the cryptic pronouncements of SEC filings like seasoned archaeologists deciphering hieroglyphs. This installment, hot off the presses from the June 3, 2025 8-K filing, promises to be a real page-turner (or at least a mildly interesting scroll).

The main event? A shiny new technical report on the Bullfrog Project in Garfield County, Utah, as mentioned in the 8-K form itself. But this isn’t just another dusty geological survey. Oh no, this time, we’ve got numbers, people! And, surprisingly, they’re not terrible.

A positive NPV? In THIS economy? Color me cautiously optimistic.

The real meat is in Exhibit 99.1, the technical report itself. It delivers a Preliminary Economic Assessment (PEA) for the Bullfrog Project, showing a positive after-tax NPV of $31 million (Base Case) and $19 million (Alternative Case – Indicated only) at an 8% discount rate. [[GREEN_FLAG]] Look, I’m not saying it’s time to break out the champagne and uranium-themed party hats just yet, but a positive NPV is a positive NPV. It’s a welcome change from the usual “we’re exploring and hoping for the best” narrative.

The report confirms what we already knew – there’s uranium at Bullfrog, nestled cozily in the Salt Wash Member of the Morrison Formation. [[GREEN_FLAG]] They’re planning to use good old-fashioned room and pillar, drift and fill, and split-shot mining methods – nothing too fancy, but hey, if it ain’t broke…

And here’s a nugget of new information: they plan to process the Bullfrog ore at Energy Fuels’ existing White Mesa Mill. Smart move – leverage that existing infrastructure! It’s like using your grandma’s well-seasoned cast iron skillet instead of buying a new one. Why reinvent the wheel (or the mill)?

They’re actually planning to USE the White Mesa Mill? Someone get that thing a celebratory oil change.

Of course, there’s still a long way to go. The report recommends a two-phase exploration program totaling $2.2 million – basically, they need to poke around some more to make sure the uranium isn’t just a geological tease. They also want to complete a Pre-Feasibility Study, because due diligence is, you know, a thing.

The Analyst’s Crystal Ball: Energy Fuels Inc. (UUUU) – What Now? (Updated June 04, 2025) 🔮

Overall Outlook & Forecast

This PEA injects a dose of much-needed optimism into the Bullfrog narrative. A positive NPV, even a preliminary one, suggests this project might actually have legs. The planned use of the White Mesa Mill is also a plus, indicating a focus on cost-effectiveness.

What Would Make Us Yell “To The Moon!” (Go Long) 🚀

• Successful completion of the two-phase exploration program, confirming or exceeding current resource estimates.
• A positive Pre-Feasibility Study, further solidifying the project’s economic viability.
• A sustained increase in uranium prices, making the project even more attractive.

When We’d Hit The Eject Button (Go Short) 📉

• Disappointing results from the exploration program, significantly downgrading resource estimates.
• A negative or significantly less optimistic Pre-Feasibility Study, raising doubts about the project’s economic viability.
• Significant operational or permitting issues at the White Mesa Mill, impacting the project’s ability to process ore.

The Mic Drop: So, What’s the Deal with Energy Fuels Inc.’s Latest Paper Trail?

This 8-K, with its surprisingly positive PEA, is a significant step forward for the Bullfrog Project. It moves the project from the realm of “potential” to “maybe, just maybe, actually happening.” But remember, folks, this is just one chapter in a long and winding story. Always do your own research (DYOR) before making any investment decisions. You don’t want to end up holding the bag (of radioactive rocks).

Key Questions Answered by This 8-K From Energy Fuels Inc. (UUUU)

• What is the current status of Energy Fuels Inc.’s Bullfrog Project?

  A Preliminary Economic Assessment (PEA) has been completed, showing positive after-tax NPV in both the Base Case and Alternative Case scenarios, suggesting potential economic viability.

• What are the next steps planned for the Bullfrog Project?

  A two-phase exploration program totaling $2.2 million is recommended, along with the completion of a Pre-Feasibility Study.

• Where will the ore from the Bullfrog Project be processed?

  The ore will be processed at Energy Fuels’ existing White Mesa Mill in Utah.

• What mining methods are planned for the Bullfrog Project?

  The proposed mining plan involves room and pillar, drift and fill, and split-shot methods.

• What is the key takeaway from the recently released technical report on the Bullfrog Project?

  The key takeaway is the positive Preliminary Economic Assessment (PEA), which indicates potential economic viability for the project.

• How much is the projected NPV for the Bullfrog Project?

  The after-tax NPV is projected to be $31 million (Base Case) and $19 million (Alternative Case – Indicated only) at an 8% discount rate.

• What is the geological formation hosting the uranium mineralization at the Bullfrog Project?

  The uranium mineralization is hosted in the Salt Wash Member of the Morrison Formation.

P.S. The SEC saga never ends! As Energy Fuels Inc. files more, this analysis will evolve. Current as of June 04, 2025.