Westwater Resources Shares Q2 2024 Updates

Westwater Resources, Inc. (NYSE American: WWR), a company focused on energy technology and battery-grade natural graphite, has announced significant advancements in its operations for the second quarter ending June 30, 2024. The company has commenced the installation of its qualification line at the Kellyton Graphite Plant in Alabama, which is projected to be operational by the fourth quarter of 2024, producing approximately one metric ton of coated spherical purified graphite (CSPG) per day. Frank Bakker, President and CEO of Westwater, highlighted the importance of a recently secured off-take sales contract with a major global automotive original equipment manufacturer (OEM), which positions the company favorably for completing debt financing for the Kellyton project. Westwater has invested around $120.4 million in the construction of Phase I of the plant, emphasizing its unique position as the only U.S.-based natural graphite company with a processing facility under construction and multi-year off-take agreements. The company plans to provide further updates to investors through a conference call scheduled for the week of September 2, 2024. Westwater's primary focus remains on the Kellyton Graphite Plant, which is crucial for its future production capabilities and market positioning. However, Westwater cautions investors regarding forward-looking statements, noting various uncertainties that could impact actual results. Factors such as market competition, supply chain issues, regulatory challenges, and economic conditions could significantly affect the company's performance and operational timelines.