Cantor Fitzgerald ‘mixed’ on Energy Fuels’ MOU with Astron for rare earth

After Energy Fuels announced a Memorandum of Understanding, or MOU, to potentially earn into a 49% interest in Astron’s Donald mineral sands and rare earth mining project in Australia, Cantor Fitzgerald said the firm has a “mixed” view of the deal. While this potential deal should secure the monazite feedstock required to support Energy Fuels’ phase 1 REE plans at White Mesa, the firm expects the $122M forthcoming investment will likely create a financing overhang on its shares, the analyst explained. Cantor reiterates a Buy rating and $10 price target on Energy Fuels shares.