capital · May 16, 2026
Westwater Resources Reports Q1 2026 Net Loss of $4.7 Million After SK On Procurement Agreement Termination
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Westwater Resources reported a net loss of $4.7 million for Q1 2026, up from $2.7 million in Q1 2025, with cash at $41.5 million as of March 31, 2026. SK On Co., Ltd. terminated the February 2024 Products Procurement Agreement during the quarter, removing the primary anchor customer for Kellyton plant output. The company raised $1.2 million via its ATM facility in Q1 and has $70.6 million remaining available, while needing roughly $115 million more to complete the $245 million Phase I Kellyton plant. Westwater continues producing CSPG samples at the Kellyton qualification line and holds FAST-41 federal permitting status for the Coosa project. Management seeks non-dilutive government funding to bridge the gap before commercial production can begin within 12 months of full financing.