The sales included 117,000 pounds U3O8 under term contracts at an average price of $58 per pound.

Looking at to 2013, the company expects production on the Arizona Strip and development of the Canyon Mine in Arizona.

Sales estimates are pegged at 1,000,000 to 1,050,000 pounds of U3O8 for the full-year 2013.

Energy Fuels predicts an improvement in the uranium market going ahead with strong prospects in long-term demand fundamentals.

"China, Russia, India, the U.S., the UK, Saudi Arabia and Brazil continue to develop nuclear power plants," said the company in a statement.

Consequently, Energy Fuels plans to execute a prudent, measured operational strategy, while preparing for anticipated improvements in uranium prices.