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Energy Fuels (NYSEMKT:UUUU, TSE:EFR) is bemused by the share price movement that has seen one third wiped off the company's value in the last month.
The company released a statement saying it was not aware of any undisclosed material change in the company's affairs that would precipitate an adverse share price reaction.
The shares, currently trading at C$2.72 in Toronto, fell 4.2% on Thursday and have lost one-sixth of their value in the last week alone.
The last public information released by the company was the third quarter update released on November 5, which showed gross profits of $7.23mln on revenues of $19.2mln.
The shares closed at C$3.65 on November 5, and have lost a quarter of their value since then.
The company said it is continuing to expand uranium production at its Nichols Ranch in situ recovery project in Wyoming, which is demonstrating attractive economics and provides the company with significant production flexibility.
In addition, the company has resumed development activities at the high-grade Canyon mine in Arizona, which has 1.6 million pounds of uranium with an average grade of 0.98% triuranium oxide (U3O8) contained in 83,000 tons of inferred mineral resources.
Shaft sinking is proceeding, and the company is looking forward to proceeding with underground drilling later in 2016 to further define and potentially expand the resource.
The company is continuing with the current mineral processing campaign at its White Mesa Mill, including the processing of alternate feed materials and Pinenut ore, which is expected to result in 600,000 pounds of U3O8 production through to the end of 2016.
As previously announced, the company expects to sell 200,000 pounds of uranium in the final quarter of 2015 at an average price of $54.59, which is 34% above the current spot price. On top of that, it expects to sell 550,000 pounds of uranium in 2016 under its existing long term contracts, also at a significant premium to today's spot price.
The shares recovered a little of their poise on Friday morning, advancing 1.1% to CS2.75.