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CENTENNIAL, Colo. - Westwater Resources, Inc. (NYSE American: WWR), a company specializing in energy technology and the development of battery-grade natural graphite with a current market capitalization of $33.5 million, announced today that it has received a Notice of Allowance for a patent related to graphite purification methods at its Kellyton Graphite Plant. The U.S. Patent and Trademark Office (PTO) has completed its examination process of the application, initially filed in August 2021. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, though it’s currently trading near its 52-week low of $0.45.
John W. Lawrence, Westwater’s Chief Administrative Officer, General Counsel, and Secretary, expressed satisfaction with the PTO’s decision, stating that the company is "extremely pleased" with the outcome and anticipates the patent will be issued shortly. This development marks the culmination of a four-year collaborative effort with the PTO.
Westwater Resources is currently constructing the Kellyton Graphite Plant in east-central Alabama, which is part of the company’s broader initiative to produce natural flake graphite, a key component in lithium-ion batteries. The company also owns the Coosa graphite deposit, described as the most advanced natural flake graphite deposit in the contiguous United States, spanning over 41,965 acres in Coosa County, Alabama. Trading at just 0.25 times book value, InvestingPro analysis suggests the stock is currently undervalued, though investors should note the company’s weak financial health score and rapid cash burn rate. For deeper insights, subscribers can access the comprehensive Pro Research Report, which provides detailed analysis of WWR’s financial position and growth prospects.
The company’s press release contains forward-looking statements, which are subject to various risks, uncertainties, and assumptions. These statements, identified by words such as "examination" and "issuance," pertain to the expected benefits and future applications of the patented graphite purification process at the Kellyton facility.
Investors are cautioned to consider the forward-looking statements in the context of potential uncertainties and risks, as detailed in Westwater’s Annual Report on Form 10-K for the year ended December 31, 2024, and other securities filings. The company’s performance and achievements may differ from those projected due to factors beyond its control.
This news is based on a press release statement from Westwater Resources, Inc. and does not include any promotional content or endorsements of the company’s claims.
In other recent news, Westwater Resources has announced securing contracts for the full Phase I production from its Kellyton Graphite Plant, highlighting significant sales agreements with SK On and Fiat Chrysler Automobiles. The company also reported a 10% reduction in the estimated construction costs for the plant, lowering the projected capital cost to $245 million. Westwater is in the process of finalizing a $150 million debt financing deal to complete the plant’s construction, although recent federal policy decisions have introduced some market uncertainty. Additionally, Westwater has launched an "at the market" stock offering aiming to raise up to $50 million, in partnership with H.C. Wainwright. The company’s financial performance for the year ended December 31, 2024, showed a net loss of $12.7 million, up from the previous year’s net loss of $7.8 million. An independent audit included a going concern qualification, underscoring the financial challenges faced by the company. Westwater has expressed support for a recent executive order by President Donald Trump, which aims to boost domestic production of critical minerals like graphite, potentially benefiting the company’s projects in Alabama. These developments come as Westwater continues to focus on its primary projects, including the Coosa Graphite Deposit and the Kellyton Graphite Processing Plant.
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