WESTWATER RESOURCES, INC.
For the period ended Mar 31, 2025. Filed May 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 14, 2025
WWR$0.41+5.3%Stored close · as of Nov 9, 2026
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DEFINITIONS
When used in this Form 10-Q, the following terms have the meaning indicated.
| Term | Meaning |
|---|---|
| Additional Commitment Shares | Pursuant to the 2024 Lincoln Park PA and in connection with each purchase of Common Stock by Lincoln Park, the Company may issue to Lincoln Park up to an additional 600,000 shares of Common Stock. |
| ASU | FASB Accounting Standards Update. |
| ATM Offering Agreement | Controlled Equity Offering Sale Agreement between Westwater Resources and Cantor Fitzgerald & Co. dated April 14, 2017 and terminated effective August 29, 2024. |
| ATM Sales Agreement | At The Market Offering Agreement between Westwater Resources and H.C. Wainwright & Co., LLC dated August 30, 2024. |
| Board | The Board of Directors of Westwater Resources, Inc. |
| Cantor | Cantor Fitzgerald & Co. |
| Common Stock | Common stock of the Company, $0.001 par value per share. |
| Coosa Graphite Deposit | The Company’s graphite mineral deposit located near Rockford, Alabama. |
| CSPG | Coated spherical purified graphite. |
| EU Critical Raw Materials 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 set 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. |
| graphite | A naturally occurring carbon material with electrical properties that enhance the performance of electrical storage batteries, listed on the U.S. Critical Minerals List and the EU Critical Raw Materials List. |
| H.C. Wainwright | H.C. Wainwright & Co., LLC. |
| IA | Initial Assessment, with Economic Analysis. A preliminary technical and economic study of the economic potential of all or parts of mineralization to support the disclosure of mineral resources. The initial assessment must be prepared by a qualified person and must include appropriate assessments of reasonably assumed technical and economic factors, together with any other relevant operational factors, that are necessary to demonstrate at the time of reporting that there are reasonable prospects for economic extraction. An initial assessment is required for disclosure of mineral resources but cannot be used as the basis for disclosure of mineral reserves. |
| Inducement Plan | The Employment Inducement Incentive Award Plan. The Inducement Plan provides for the grant of equity-based awards, including restricted stock units, restricted stock, performance shares and performance units on terms substantially similar to the Company’s 2013 Omnibus Incentive Plan. |
| Kellyton Graphite Plant | The Company’s planned battery-grade graphite processing facility near Kellyton, Alabama. |
| Lincoln Park | Lincoln Park Capital Fund, LLC. |
|---|---|
| NYSE American | NYSE American LLC. |
| R&D Lab | Research and development laboratory. |
| RSUs | Restricted stock units. |
| SEC | U.S. Securities and Exchange Commission. |
| SG building | One of the primary Kellyton Graphite Plant buildings where flake graphite will be sized and shaped. |
| SK On | SK On Co., Ltd., an electric vehicle battery developer, manufacturer, and solutions provider, supplying electric vehicle batteries to Ford, Hyundai, Volkswagen and others. |
| spot price | The price at which a mineral commodity may be purchased for delivery within one year. |
| U.S. | The United States of America |
| U.S. Critical Minerals List | The list of critical minerals that are crucial to the economy of the United States of America published by the Department of the Interior. |
| U.S. GAAP | Generally accepted accounting principles in the United States. |
| vanadium | A rare-earth metal used as a strengthening alloy in steelmaking, and in certain types of batteries, listed on the U.S. Critical Minerals List. |
| Westwater Resources | Westwater Resources, Inc. |
| 2013 Plan | Westwater Resources, Inc. 2013 Omnibus Incentive Plan, as amended. |
| 2024 Lincoln Park PA | Purchase Agreement dated as of August 30, 2024, between Westwater Resources and Lincoln Park Capital Fund, LLC. |
| 2024 Lincoln Park Registration Rights Agreement | Registration Rights Agreement dated as of August 30, 2024, between Westwater Resources and Lincoln Park Capital Fund, LLC. |
USE OF NAMES
In this Quarterly Report on Form 10-Q, unless the context otherwise requires, the terms “we,” “us,” “our,” “WWR,” “Westwater,” “Westwater Resources,” or the “Company” refer to Westwater Resources, Inc. and its subsidiaries.
CURRENCY
The accounts of the Company are maintained in U.S. dollars. All dollar amounts referenced in this Quarterly Report on Form 10-Q and the consolidated financial statements are stated in U.S. dollars.
PART I — FINANCIAL INFORMATION
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.