KarkoSide
$UUUU Auf etwa 1.000 Zeichen verdichtet:
After approximately ten years as a German investor in Energy Fuels (UUUU), I have exited my entire position. My decision is based on a fundamental reassessment of capital efficiency and execution risk. In Q2 2026, Energy Fuels generated only about $25.1M in revenue while reporting a $33.6M net loss. Operating costs and expenses reached roughly $55.7M, more than twice quarterly revenue. Meanwhile, future growth remains highly capital-intensive: Vara Mada alone requires approximately $769M of initial CAPEX plus another $142M for Stage 2, while White Mesa, Donald and Bahia require further investment and execution. The proposed ~$1.9B VAC transaction adds another layer of complexity. Although working capital stood near $996M, cash represented only about $58M. The geological potential is unquestionable, but after ten years I require empirical evidence: sustainable free cash flow, consolidated profitability and measurable returns on invested capital.
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