Westwater Resources, Inc.

Thank you for standing by. This is the conference operator. Welcome to Westwater Resources Inc. Third Quarter 2025 Business Update Conference Call. As a reminder, all participants are in the 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 and 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and then 0. I would now like to turn the conference over to Stephen Cates, Chief Financial Officer, thank you, and over to you.

Thank you, moderator, and good morning, everyone. Thank you for joining us for today's business update. I'm joined by Terrence Crine, our Executive Chairman, and Frank Bacher, our Chief Executive Officer. We appreciate your time and continued interest in Westwater. Before we get started, I'd like to let you know that we filed our Q3 results with the SEC yesterday. Investors are welcome to visit our website or the SEC EDGAR database for more detailed information. Additionally, I want to remind everyone that today's discussion will include forward-looking statements. These statements reflect management's current expectations regarding various factors, such as projected demand and pricing for natural graphite, expected timelines and costs related to the Kellyton Graphite Plant and CUSA deposit, as well as capital raising activities. As always, these statements are subject to certain risks and uncertainties, which are detailed in our annual report on Form 10-K for the year ended December 31, 2024, along with other SEC filings. Please also see the cautionary statement included in our November 7th press release. Actual results may differ materially from those expressed or implied in today's remarks. With that, I'll pass it over to our Executive Chairman, Terrence Kryan, to provide opening remarks.

Thanks, Steve, and thanks to everyone joining us today. It's been an eventful few weeks since quarter closed, so I wanted to share some thoughts and provide an update on where we stand. Last week, Fiat Chrysler Automotive, a division of Stellantis, unexpectedly terminated its offtake agreement with us. This was one of three offtake agreements we had in place that underpinned our debt project financing. As many of you know, we have two other offtake agreements with SKON and Hiller Carbon that remain in effect. And as Frank will share shortly in detail, we're providing large samples for these and other potential customers from our qualification line. The Lantus withdrawal from the offtake agreement has paused our debt syndication process, which was reliant on that offtake support. We haven't lost sight of our end goal, commercial production and revenue from Kellyton. We've invested approximately $125 million so far in developing Kellyton phase one into one of the most advanced facilities for producing battery grade natural graphite in the US. Our focus now is to optimize Kellyton's ramp up by aligning capacity more precisely with our existing offtake commitments. This strategic adjustment will likely allow us to reduce the capital required to reach full commercial production and make our project more resilient, leaner, and better positioned for the current environment. We expect to complete this review and finalize our updated strategy and communicate our plans early next year. We're still in the infancy of the US battery materials market. And Westwater is at the forefront, navigating the challenges that come from developing an industry at this early stage. We're focused on developing Kellyton as a proven, reliable supplier of battery-grade graphite, advancing our KUZA deposit permitting and maintaining a strategic presence in this nascent but high potential market. Our management team is resilient, adaptive, and ready to navigate these challenges. The $55 million we raised in the second half of this year provides us with flexibility and additional runway to pursue our objectives. Westwater Resources remains the most advanced US-based developer of battery-grade natural graphite. We control the largest, most advanced natural graphite resource in the continental United States and have the infrastructure, including a qualification line, that can deliver one metric ton and larger samples to current and potential customers. The vertically integrated nature of our business provides us with distinct advantages. We're committed to building a sustainable, profitable business, and we're prepared to do what it takes to succeed, adapting quickly and staying laser focused on our objectives. We very much appreciate your continued support, confidence in our team, and we look forward to sharing more updates on our progress. With that, I'd like to invite our CEO, Frank Bacher, to provide more detail on the upcoming optimization efforts at Kellington and the significant progress we've made so far. Frank?