Westwater Resources, Inc.

Thank you for standing by. This is the conference operator. Welcome to the Westwater Resources Inc. Q2 2021 Results and Business Update conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. I would now like to turn the conference over to Chris Jones, President and CEO. Please go ahead, sir.

Thank you, Charisse, and thank you to everyone for taking the time today to join us. Joining me today on the call is Jeff Vigil, our CFO, and I'd like to introduce Steve Cates, our Chief Accounting Officer. On slide two, note the cautionary statements. We invite you to read them at your leisure. We will be talking about some forward-looking information today. Turning to slide three, ensuring the safety of our employees. To ensure the safety and health of our employees and the communities where we work, and in accordance with local and CDC guidelines, we've reopened our office in Centennial. We continue to ensure that our employees are permitted and encouraged to take time off due to illness or the illness of those around them without penalty. Turning to slide four, ensuring the health and growth of our business. Our pilot program has produced a total of over 13 metric tons of battery graphite. We have secured the site for our intended processing facility near Kellyton, Alabama. together with the financial incentives from the state, county, and industrial development boards. And we continue to work to ensure adequate financial liquidity to support our key operations and business activities. To that end, we have a cash balance of $119 million as of June 3. And Westwater is continuing to proceed in its case for compensation for the Republic of Turkey. Our hearing is scheduled for the middle of September, and we request $36.5 million plus fees. With that, I'd like to turn it over to Jeff Vigil, our CFO. Jeff?

Thank you, Chris. Good morning, everyone. First, let's take a look at our capital position on slide five. Closing share price on Tuesday, August 10th was $4.36. And with approximately 33.5 million shares outstanding at June 30, our market capitalization stands at about 146 million. Share price began the second quarter at $5.37 and ended the second quarter at $4.74. The average daily trading volume over the 63 trading days of the second quarter was 1.8 million shares. We're happy to report that effective June 28th, 2021. Westwater common stock was added to the Russell micro cap index. During the second quarter of 2021, the company utilizes equity line with Lincoln Park capital to raise approximately 5.7 million from stock sales. With our current cash balance. And our availability on our financial facilities, we continue to take advantage. of the opportunity to raise cash and put us in a fundamentally strong position to execute our budgeted business plan through 2022. And this also allows us to make a substantial initial investment in the commercial graphite processing facility that we recently announced to be built in Coosa County, Alabama in the latter half of 2021. On slide six, we provide a financial summary for the period into June 30, 2021. The six months into June 30, net cash use in all operating activities was $9.1 million, as compared with $6 million for the same period in 2020. $3.1 million increase in cash use was primarily due to increased product development expenses, exploration activities, general administrative costs, and arbitration costs in 2021. But that loss from continuing operations was $3.5 million and $2.5 million for the three months into June 30, 2021 and 2020, respectively. The $1 million increase compared to 2020 was largely the result, again, of the increase of product development expenses, expiration, and general administrative costs, set partially by the elimination of costs from discontinued uranium operations and in 2020, and an unrealized gain related to the Encore common stock. On June 30, 2021, the company's cash balances were approximately $119 million. The company had a working capital balance of $117 million. Again, with these cash resources, we will use to fund ongoing operations, fund development of our graphite business plan, And again, allows a substantial investment in our commercial processing facility. With that, I'll turn it back to you, Chris.