Energy Fuels Inc. (EFR-T)

Not that familiar with the company, but knows the uranium industry really well. Issue with uranium is building the mines. In Saskatchewan, CCO owns all the infrastructure and decides what mines are going to be developed. Focus on a quality uranium play instead.

The acquisition was actually announced in April, ans is just moving towards completion now. Business-wise, we think it is a decent deal to combine the two companies, gain synergies and get a better valuation as a larger company. BUT....it was a very big premium for the deal, and the deal will see EFR issue a lot of new shares. This is what concerned investors, we believe, and the stock is down 33% YTD. The sector has struggled somewhat, but EFR has lots of cash and is expected to be profitable next year. We do not like the momentum, but it looks better at the lower price. For those who really want exposure to the sector we would be OK with a started position today. 
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The Donald Project is an attractive asset with potential, but it will cost capital to develop. EFR has committed to spend $122M and issue $17.5M in shares to earn 49%. While a good asset for future growth, investors looked at the spending level and share dilution and got a bit concerned. But the initial spend level is quite small and a future 'go' decision is further out and still dependent on various factors. We would not really see this news as 'bad', just regular operations for a small cap company seeking to develop more assets. Mines do require lots of capital. 
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EFR has been quite volatile over the last few years, but things have been trending up recently and the stock is up 11% over the last year. Recent growth has been very high and first quarter earnings recorded significant EBITDA growth. The balance sheet continues to be strong with essentially no debt and $194M in net cash. Cash from operations and free cash flows were positive in the recent quarter as well. It is very expensive when looking at multiples but that is more-so due to the current stage the company is at. We are interested in the $8.50's range.
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He owned this and covered his investment. EFR will benefit from Pres. Biden subsidizing the uranium business. EFR benefits from having relatively advanced projects in the U.S.  The easy money has been made already in uranium stocks, but there remains money to be made here for the next 5 years. The uranium metals market has moved from a short-term to a long-term market, which increases investor security. Speculators could take profits in these stocks, while investors can stay long.

It hasn't popped hard like its uranium peers, and rather is at multi-year resistance now. If it breaks the current level, great. He owns Cameco which had a similar chart to ERF by hitting resistance three times (he traded it when this happened), but he hold onto Cameco during its last (strong) breakout. This could happen to ERF. If you own ERF, hold it a little longer to see if it breaks out. (Uranium is doing well.) Otherwise, it will fall back to resistance.

Unsure on current state of Uranium.
Buying at anything below $8.50
Hold at current price. 

Likes that they have done a bunch of things to consolidate their operations. Balance sheet looks fine. They are going to live and die on the price of uranium. If you have a positive outlook on uranium, this is definitely one that you want to own.