Westwater Resources Receives Letter of Interest from US EXIM Bank for the Kellyton Graphite Plant
'Westwater continues to make progress syndicating its previously announced debt facility. This LOI from EXIM adds additional potential sources of funding as we continue the development of our Kellyton graphite anode processing plant, which is 100% sold out for phase one,' said Steve Cates, Westwater's Chief Financial Officer.
The progression from a letter of interest to a loan commitment from EXIM requires a formal application, and for EXIM to complete due diligence, underwriting, and finalization of terms and conditions. No assurance can be given that the Company will ultimately enter into a loan transaction with EXIM.
About Westwater Resources, Inc.
Westwater Resources is an energy technology company that is focused on developing battery-grade natural graphite. Westwater Resources' primary project is the Kellyton Graphite Processing Plant that is under construction in east-central Alabama. In addition, Westwater Resources' Coosa Graphite Deposit is the largest and most advanced natural flake graphite deposit in the contiguous United States — and is located across 41,965 acres (~17,000 hectares) in Coosa County, Alabama. For more information, visit westwaterresources.net.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words and phrases such as 'progressing,' 'progress,' 'potential,' 'development,' and other similar words or phrases. Forward looking statements include, among other things, statements concerning the Company's business plans for its Kellyton Graphite Processing Plant including efforts to syndicate a debt facility for its continued construction. The Company cautions that there are factors that could cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of the Company; accordingly, there can be no assurance that such suggested results will be realized. Those uncertainties and other factors are discussed in Westwater's Annual Report on Form 10-K for the year ended December 31, 2024, and subsequent securities filings, and they could cause actual results to differ materially from management expectations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
31 minutes ago
- Yahoo
The Browser Company launches a $20 monthly subscription for its AI-powered browser
The Browser Company has launched a Pro subscription plan for Dia, its new web browser that heavily integrates AI features. The plan costs $20 per month and provides unlimited access to Dia's AI-powered chat and skills features. The introduction of a paid tier means free users will now face usage limits on AI features. While The Browser Company hasn't specified exact limits, CEO Josh Miller told The New York Times in July that the browser will remain free for those who use AI features 'a few times a week.' Miller also indicated that the startup plans to offer multiple subscription tiers, ranging from $5 per month to hundreds of dollars monthly. The current $20 plan appears to be one of several options based on different feature sets. Earlier this week, users on Reddit and Threads noticed that The Browser Company had quietly made the Pro plan available online. However, the company quickly removed the page. Now the subscription option has been restored and can be accessed through Dia's settings page. The Browser Company, which previously made the Arc browser, has raised $128 million from investors, including Pace Capital, Next Play Ventures, and notable tech execs like LinkedIn's Jeff Weiner, Medium's Ev Williams, Figma's Dylan Field, Notion's Akshay Kothari, and GitHub's Jason Warner. This Pro plan represents the company's first revenue-generating subscription service. The startup faces growing competition when it comes to AI-enhanced browsers. Perplexity's Comet browser is gaining steam, Opera is also prepping its Neon browser, and incumbents like Google and Microsoft are also integrating their AI assistants into their browsers. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 hours ago
- Bloomberg
Chinese Cobot Maker Huayan Robotics Is Said to File for Hong Kong IPO
Guangdong Huayan Robotics Co. has confidentially filed for a Hong Kong initial public offering that could raise more than $200 million, according to people familiar with the matter. The Shenzhen-based company may go public in the coming months, the people said, asking not to be identified because the information isn't public. Deliberations are ongoing, and the size and timing of the deal may change.
Bloomberg
6 hours ago
- Bloomberg
Shiseido Jumps as Much as 11% After Profit Beats Estimates
Shiseido Co. shares surged as much as 11% on Thursday morning, the most in nearly four months, after the company's second quarter profit beat estimates. Shiseido's operating profit was ¥10.9 billion ($73.8 million) for the three months ended June, according to a company statement Wednesday. That compares with the average analyst expectation of ¥7.9 billion.
