Westwater Resources (NASDAQ: WWR) reported Q1 EPS of ($0.19), versus ($0.82) reported last year.

“As I mentioned in our 2020 year-end earnings release in February, we had an immensely successful 2020, and I am very proud to state the first quarter ended March 31, 2021 has continued this trend,” said Chris Jones, CEO of Westwater Resources. “The President signed a declaration naming graphite critical to the safety and security of the United States. We believe this declaration, and the actions expected to follow it, will have a significant positive impact on our ability to develop and build our graphite business.”

“The definitive feasibility study for the Coosa Graphite Project processing facility is underway and, when completed at mid-year 2021, will provide detailed specifications and inform the detailed engineering work we need to execute prior to construction,” Jones continued. “This design work is expected to be used to start construction of the plant toward the end of 2021. At this time, we have processed over 13 metric tonnes of our battery product material during our pilot program, and the three products we produced can go to potential customers for testing.”

“Exploration and development drilling on the Coosa Graphite Deposit began in April 2021,” Jones concluded. “We are expanding our knowledge of the graphite deposit with this 10,000-foot program. Assays for both graphite and vanadium, an important alloy material for high strength and tool steels, will be performed and integrated into our geologic model, then used to re-optimize the extraction of the resource and re-estimate the deposit economics. I’m thrilled with the progress we’re making, none of which could have been accomplished without the hard work of our dedicated and innovative management team and drilling contractor.

For earnings history and earnings-related data on Westwater Resources (WWR) click here.