Energy Fuels Inc. is a Canada-based development-stage company. The Company is engaged in uranium and vanadium mining and development with projects located in the states of Colorado, Utah and Arizona, through its wholly owned subsidiary, Energy Fuels Resources Corporation (EFRC), and with zinc and copper deposits located in Newfoundland, Canada. The Company is in the process of exploring its mineral properties and had not established whether its mineral exploration properties contain reserves that are economically recoverable as of September 30, 2008. On June 30, 2008, the Company along with Lnyx-Royal completed the formation of the Arizona Strip Partners LLC, a joint venture company to explore uranium properties in the Arizona Strip region of Northern Arizona. The Company holds five unpatented mining claim blocks and three Arizona State leases, in which the Company holds a 10% interest. In July 2009, Energy Fuels Inc. completed the acquisition of the Company.