Energy Fuels forms JV with Astron for Donald rare earth project; invests up to $122M for 49%

ENERGY FUELS INC

Energy Fuels to invest up to AUD$183M (~$122M) for 49% interest in Donald rare earths JV with Astron.
Phase 1 expected to produce 7,000-8,000 t REEC/year as early as 2026, containing ~4,700 t TREO.
Energy Fuels will issue ~2.56M shares (value $17.5M) to Astron; $3.5M at closing, $14M upon FID.
Energy Fuels secures 100% offtake of the Donald Project's REEC at market prices with floor price protection.
FID expected Q3/Q4 2024; conditions include FIRB approval and asset transfer.

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