INTERNATIONAL ISOTOPES REMAINS HOPEFUL FOR DE-CONVERSION FACILITY

International Isotopes remains hopeful that it will eventually secure enough contracts to move forward with its proposed uranium de-conversation facility in Hobbs, N.M., according to President and CEO Steve Laflin during an investor’s call yesterday. The company announced in its third quarter results last year that active design and construction for the facility needed to be put on hold after it could not secure financing without contract commitments. “While the three other commercial enrichment companies we were in discussions with years ago have not moved forward with their plans, neither have they canceled their projects,” Laflin said. “We remain confident that one or more of these new enrichment projects will come to fruition in the next several years. When they do, we will be ready to resume contract talks, admit our remaining facility capacity, obtain project financing, and proceed with the design and construction of the facility in Hobbes. In the meantime, we remain in a very fortunate position of being able to wait.” Laflin also highlighted the recent announcement from the Department of Energy that would allow GE Hitachi’s Global Laser Enrichment to build a facility that can re-enrich depleted uranium tails at its Paducah site as a potential partner that could use the Hobbs facility for de-conversion services for depleted tails resulting from the GLE process.