Energy Fuels’ terbium oxide, a critical component for advanced permanent magnets, has passed all requirements for use by one of the largest Japanese magnet producers, the company said on Wednesday.
- The stock is now on track to reverse three consecutive months in the red, up nearly 30% so far in August.
- China controls over 90% of the global terbium production and has heavily restricted exports.
- On Stocktwits, retail sentiment around UUUU stock was ‘bullish’ at the time of writing, and the stock was among the platform's top trending tickers.
Shares of Energy Fuels Inc. (UUUU) closed up more than 5% on Wednesday and continued to climb overnight after the company announced that its terbium (Tb) oxide has successfully passed all qualifications for use by one of the world's largest manufacturers of rare earth permanent magnets in Japan.
The stock is now on track to reverse three consecutive months in the red, up nearly 30% so far in August.
Terbium Approval For Use Outside China
Terbium is a heavy rare earth element that serves as a critical input to improve heat resistance and performance of high-strength NdFeB permanent magnets used in a variety of advanced technologies.
China controls over 90% of the global terbium production and has heavily restricted exports.
The Japan-based manufacturer has informed Energy Fuels that the Tb oxide produced at its White Mesa Mill in Utah meets their specifications and is approved for use in commercial REPM production with no further qualification or validation required.
"This latest qualification of Energy Fuels' heavy rare earth oxides marks another significant milestone in establishing a secure, diversified supply chain for critical rare earth materials," Ross Bhappu, President and CEO of Energy Fuels, said in a statement.
"Successful qualification of our terbium oxide by one of the largest Japanese rare earth permanent magnet manufacturers represents one of the strongest endorsements of our product quality and industry leading rare earth processing capabilities to supply the heavy rare earth materials needed for automobiles, advanced electronics, robotics, aerospace, defense systems, and other advanced technologies," Bhappu added.
Energy Fuels had previously announced the qualification of its neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides for the manufacture of rare earth permanent magnets.
UUUU Stock: Retail Stance
On Stocktwits, retail sentiment around UUUU stock was ‘bullish’ at the time of writing, while the stock was among the top trending tickers on the platform.
One bullish user said, “TERBIUM ROCKS!”
Another user said, “we’re up 6% on super low volume. Imagine how much higher we can rocket when volume and interest come back.”
UUUU stock has gained more than 74% in the last one year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
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