HREE Pulse

Snapshot 22 Aug 2026 · 52 names

Desk · Processors & magnets · Processing / separation

NYSE American:UUUU · EFR · TSX

Energy Fuels

US uranium mill that already separated NdPr, Dy and Tb from monazite, now buying ASM and VAC to become a mine-to-magnet platform.

NYSEProducerHREEMagnetsGov support
86

Accelerating

Website

Pulse Timeline

Isoelectric line is the baseline Pulse. Spike height is catalyst strength. Wide gaps or a flat line = stalled progress / life support.

86↑ Accelerating
now$700m convertible notes (Phase 2 mill funding)1ASM scheme approved by shareholders2VAC close path and White Mesa heavy-rare commercial plan3VAC acquisition close (guided)4Initial commercial Dy/Tb circuit (~35 t / 12 t)5OctNovDecJanFebMarAprMayJunJulAugSepOctNovDecJanFebMarAprMayJun
  1. 1) 10-01 Raise
  2. 2) 08-12 Vote
  3. 3) 10-15 Beat
  4. 4) 02-01 Beat
  5. 5) 06-01 Oxide

Lead II · 25 mm/s · Pulse 10 mm/mV · snapshot 2026-08-22

Accelerating

Beats are clustering. The calendar is the trade.

Last beat
10d
Beats / 90d
1
Recent gap
315d

1 beats in 180d

  • — Last material beat 10d ago — ASM scheme approved by shareholders.
  • — Next: VAC close path and White Mesa heavy-rare commercial plan (54d).
  • — Recent gap 315d between prints.
  • — US listing is done. Pulse is the asset, not the ticker.
RaiseVoteBeatOxideGov

Trading

Last
$15.14
1d
+8.9%
Mkt cap
$3.8B
Volume
11.1M
52-week
$3.6 – $24.9
1m
+12.0%
3m
+18.0%
1y
+25.0%

Shares 230m basic · EV / MagREO $475M/kt · snapshot, not a live tape

Company & people

HQ

Lakewood, Colorado

Focus

Processing / separation · Processor / no mine

CEO Mark Chalmers

  • Mark Chalmers, CEO
  • Bruce Hansen, Chair
  • White Mesa mill technical team

Management aligned to the mill-plus-acquisitions thesis; watch VAC close dilution.

Mine / project

Flagship

White Mesa Mill + VAC magnets + ASM metals

Location

Blanding, Utah (mill); Sumter, SC and Hanau (VAC); Dubbo / Korea (ASM) · United States

Deposit

Monazite crack-leach (mill); sintered NdFeB (VAC)

Resource

Mill-fed monazite; Donald JV, Bahia (Brazil), Vara Mada (Madagascar) as HMS/monazite feed.

NdPr / MagREO

Phase 1 ~1,000 tpa NdPr; Phase 2 targets 6,000 tpa NdPr + ~288 t Dy / 80 t Tb late-2029.

Desk basket

8 kt MagREO (desk) · 6,000 t NdPr (desk)

Radioactivity

Moderate — typical monazite / carbonatite

Processor EV is not an in-ground multiple. Compare on oxide capacity and magnet tonnes, not TREO.

Capital, loans, grants & support

$700m convert (Oct 2025) funded Phase 2 mill talk; VAC is stock-and-cash.

  • Export Finance Australia loan

    Conditional debt support on Donald monazite (Astron JV)

  • US mill license partner

    Only conventional US uranium mill; REE circuit inside existing NRC/state frame

  • Chemours Florida/Georgia monazite feed
  • NdPr qualified with a major Korean EV motor-core maker (Sep 2025)

The Pulse

Two live acquisitions (ASM approved 12 Aug; VAC guided early 2027) on top of first US Dy/Tb. This is the most kinetic Western processor. Integration risk is the discount, not the strategy.

Already NYSE American / TSX. No uplist work to do — the pulse is vertical integration.

Catalyst proximity23/25
Gov / strategic18/25
US listing path20/20
De-risking18/20
Setup7/10

Next: 15 Oct 2026 — VAC close path and White Mesa heavy-rare commercial plan

Catalysts

  • 1 Oct 2025$700m convertible notes (Phase 2 mill funding) financing
  • 12 Aug 2026ASM scheme approved by shareholders vote
  • 15 Oct 2026VAC close path and White Mesa heavy-rare commercial plan other
  • 1 Feb 2027VAC acquisition close (guided) other
  • 1 Jun 2027Initial commercial Dy/Tb circuit (~35 t / 12 t) production

Journal

Desk note

Stays on this device. Not the press release.

Pulse = Catalyst proximity + government/strategic support + Nasdaq-path / listing signals + valuation & execution + stage progress. Method