Westwater Resources provides update on Kellyton Plant project financing

Westwater Resources (WWR) has received final investment committee approval from the lead lender, a global financial institution, and the company is working with Cantor Fitzgerald to finalize the overall syndication and closing of the debt financing for the Kellyton Plant. As a result, the estimated timing to close a debt financing transaction has been delayed. The closing of the debt transaction is also subject to customary agreement on final terms, completion of the syndication, final due diligence, and loan conditions. The company also announced the results of its completed Definitive Feasibility Study for Phase II. Estimated capital costs for Phase II is $453M, including a 20% contingency. Estimated pre-tax NPV of $1.4B at an 8% discount rate, total estimated cumulative pre-tax cash flows of $6.3B over an estimated operating life of 35-years, estimated pre-tax IRR of approximately 31.8%, estimated annual pre-tax, cash flow of $192.6M, planned annual production of CSPG to 37,500 metric tons.