Westwater Resources (NASDAQ: WWR) reported Q1 EPS of ($0.82), versus ($2.15) reported last year.

Christopher M. Jones, President and Chief Executive Officer, said, “Our top priority remains our employees and we are pleased to report they are safe. In early May, our employees returned to field work in Texas, and protocols are in place in all of our workplaces to ensure we can continue to work safely going forward. Even with stay at home and safer at home orders in place here in the United States and Europe, during the quarter we continued to make significant progress in our battery graphite business. We remain on schedule to manufacture battery graphite in bulk quantities in the fourth quarter of 2020. After visiting with our German engineering partner Dorfner Anzaplan, as well as equipment manufacturers in January 2020, we began to test advanced graphite products and design our plan to operate a pilot plant later this year without interruption. We expect to announce our graphite test results in the coming weeks.

“With much of the global supply chain in flux in the wake of COVID-19, the United States is taking important steps to mitigate future risks to certain critical minerals. The report from the Nuclear Fuel Working Group presents a comprehensive policy shift that aims to support American uranium producers and the nuclear industry, including a budget proposal by the Federal Government to provide funding for a competitive procurement of U.S. uranium production over a 10-year timeline. Westwater owns two licensed uranium processing facilities in Texas, along with 199,700 acres of uranium mineral rights in New Mexico and Texas. The Federal Government’s support for domestic uranium production would enable Westwater to better compete in these markets. Westwater’s diverse assets include graphite, lithium, uranium and vanadium mineral properties located throughout the U.S., and each is included in the Federal Government’s Critical Minerals List.

“Our top priority will continue to be protecting the health and safety of our employees, their families and the communities in which we operate. While no company is immune to issues in today's market environment, Westwater is relatively well positioned to take advantage of the low carbon future, both in power generation and energy storage. I wish to thank our shareholders for their continued support,” concluded Mr. Jones.

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