09:48 AM EDT, 09/11/2024 (MT Newswires) -- Energy Fuels ( UUUU ) was up nearly 2% in early Wednesday trading after the uranium and rare earth elements producer said initial drilling intercepts at its Nichols Ranch uranium mine in Wyoming's Powder River Basin were showing "stronger mineralization than anticipated."

The company said its Production Area 2 could be ready to begin in-situ recovery and other mining activity as soon as next July, with the actual start date still subject to market and other conditions.

Production from Nichols Ranch should quickly be combined with Energy Fuels' ( UUUU ) conventional mines now operating in Arizona and Utah, the company said.

Price: 4.6000, Change: +0.08, Percent Change: +1.77