Westwater Resources, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 10, 2022 at 09:32 pm
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Westwater Resources, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net loss was USD 3.16 million compared to USD 3.48 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to USD 0.11 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to USD 0.11 a year ago.
For the six months, net loss was USD 5.96 million compared to USD 8.87 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to USD 0.29 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to USD 0.29 a year ago.
Westwater Resources, Inc. is an energy technology company. The Company is focused on developing battery-grade natural graphite materials. The Companyâs primary project is the Kellyton Graphite Processing Plant that is under construction in east-central Alabama. The Company's projects also include Coosa Graphite Project, Bama Mine Project and COOSA Vanadium Project. The Coosa Graphite Deposit is an advanced natural flake graphite deposit in the contiguous United States and is located across 41,965 acres (17,000 hectares) in Coosa County, Alabama. The Bama Mine Project is located in the Alabama Graphite Belt and comprises of 1,300 acres of land. The vanadium mineralization at the Coosa project occurs principally as the mineral roscoelite, a medium to dark green mica mineral that has been a global source for vanadium.