Westwater Resources, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Westwater Resources, Inc. filed its Q1 2024 10-Q, detailing financial positions and assets.</b>

AI Summary

WESTWATER RESOURCES, INC. (WWR) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Westwater Resources, Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31. The filing includes data related to common stock, retained earnings, and additional paid-in capital as of March 31, 2024. Property, plant, and equipment, including mining properties and mineral rights in Alabama, are detailed as of March 31, 2024. The report references the 'Two Thousand Thirteen Omnibus Incentive Plan' and Restricted Stock Units (RSUs).

Why It Matters

For investors and stakeholders tracking WESTWATER RESOURCES, INC., this filing contains several important signals. This 10-Q filing provides a quarterly update on Westwater Resources' financial health and asset base, crucial for investors tracking the company's progress in the metal mining sector. The detailed breakdown of assets, including mining properties, and equity accounts offers insights into the company's operational status and capital structure.

Risk Assessment

Risk Level: — WESTWATER RESOURCES, INC. shows moderate risk based on this filing. The company is in the metal mining industry, which is subject to significant market volatility, regulatory changes, and operational risks, as indicated by the detailed asset and equity information in the 10-Q.

Analyst Insight

Investors should review the detailed financial statements and asset disclosures in the 10-Q to assess the company's current financial standing and future prospects.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-05-14 — Filing Date (10-Q filing)
• 1231 — Fiscal Year End (Company data)

Key Players & Entities

• WESTWATER RESOURCES, INC. (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-14 (date) — Filed as of date
• 10-Q (form) — Filing type
• URANIUM RESOURCES INC /DE/ (company) — Former company name
• AL (location) — State where mining properties are located

FAQ

Industry Context

Westwater Resources operates in the metal mining industry, focusing on exploration and development of mineral resources.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Review the balance sheet for detailed asset and liability information as of March 31, 2024.
2. Analyze equity accounts including common stock, retained earnings, and additional paid-in capital.
3. Examine disclosures related to property, plant, and equipment, specifically mining properties in Alabama.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-14: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing an update from previous filings.

Key Financial Figures

• $0.001 — nge on Which Registered Common Stock, $0.001 par value WWR NYSE American Indic

Filing Documents

• wwr-20240331x10q.htm (10-Q) — 695KB
• wwr-20240331xex31d1.htm (EX-31.1) — 10KB
• wwr-20240331xex31d2.htm (EX-31.2) — 10KB
• wwr-20240331xex32d1.htm (EX-32.1) — 6KB
• wwr-20240331xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-008136.txt (&nbsp;) — 3108KB
• wwr-20240331.xsd (EX-101.SCH) — 21KB
• wwr-20240331_cal.xml (EX-101.CAL) — 28KB
• wwr-20240331_def.xml (EX-101.DEF) — 69KB
• wwr-20240331_lab.xml (EX-101.LAB) — 206KB
• wwr-20240331_pre.xml (EX-101.PRE) — 150KB
• wwr-20240331x10q_htm.xml (XML) — 415KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 5

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 5

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 16

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 22

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 22

- OTHER INFORMATION

PART II - OTHER INFORMATION 23

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 23

RISK FACTORS

ITEM 1A. RISK FACTORS 23

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 23

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 23

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 23

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 23

EXHIBITS

ITEM 6. EXHIBITS 24

SIGNATURES

SIGNATURES 25 2 Table of Contents DEFINITIONS When used in this Form 10-Q, the following terms have the meaning indicated. T erm M eaning AGP Alabama Graphite Products, LLC, an Alabama limited liability company and wholly owned subsidiary of Westwater Resources. Alabama Graphite Alabama Graphite Company, Inc., an Alabama corporation and wholly owned subsidiary of Westwater Resources. Annual Report Westwater Resources, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2023. ASC FASB Accounting Standards Codification. ASU FASB Accounting Standards Update. ATM Offering Agreement Controlled Equity Offering Sale Agreement between Westwater Resources and Cantor Fitzgerald & Co. dated April 14, 2017. Board The Board of Directors of Westwater Resources, Inc. Cantor Cantor Fitzgerald & Co. Coosa Graphite Deposit The Company's graphite mineral deposit located near Rockford, Alabama. CSPG Coated spherical purified graphite. EU Critical Raw Minerals List The list of raw materials that are crucial to the economy of the European Union published by the European Commission. FASB The Financial Accounting Standards Board. FASB Concepts Statements FASB Concepts Statements are intended to serve the public interest by setting the objectives, qualitative characteristics, and other concepts that guide selection of economic phenomena to be recognized and measured for financial reporting and their display in financial statements or related means of communicating information to those who are interested. Concepts Statements guide the Board in developing sound accounting principles and provide the Board and its constituents with an understanding of the appropriate content and inherent limitations of financial reporting. A Statement of Financial Accounting Concepts does not establish generally accepted accounting standards. graphite A naturally occurring carbon material with electrical properties that enhance the performance of electrical

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS WESTWATER RESOURCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (expressed in thousands of dollars, except share amounts) (unaudited) March 31, December 31, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 6,129 $ 10,852 Prepaid and other current assets 848 762 Total Current Assets 6,977 11,614 Property, plant and equipment, at cost: Property, plant and equipment 134,570 132,870 Less: Accumulated depreciation ( 530 ) ( 470 ) Net property, plant and equipment 134,040 132,400 Operating lease right-of-use assets 307 336 Finance lease right-of-use assets 18 20 Other long-term assets 5,837 5,461 Total Assets $ 147,179 $ 149,831 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 5,559 $ 5,957 Accrued liabilities 1,613 1,696 Operating lease liability, current 121 117 Finance lease liability, current 6 5 Total Current Liabilities 7,299 7,775 Operating lease liability, net of current 188 220 Finance lease liability, net of current 13 15 Other long-term liabilities 1,378 1,378 Total Liabilities 8,878 9,388 Commitments and Contingencies (see note 8) Stockholders' Equity: Common stock, 100,000,000 shares authorized, $ 0.001 par value Issued shares - 57,010,971 and 55,387,794 , respectively Outstanding shares - 57,010,810 and 55,387,633 , respectively 57 55 Paid-in capital 502,429 501,675 Accumulated deficit ( 363,927 ) ( 361,029 ) Less: Treasury stock ( 161 shares), at cost ( 258 ) ( 258 ) Total Stockholders' Equity 138,301 140,443 Total Liabilities and Stockholders' Equity $ 147,179 $ 149,831 The accompanying notes are an integral part of these condensed consolidated financial statements. 5 Table of Contents WESTWATER RESOURCES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (expressed in thousands of dollars, except share and per share am