Exhibit 99.1
WESTWATER RESOURCES, INC.
PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS
(expressed in thousands of dollars, except share amounts)
(unaudited)
| June 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash and cash equivalents | $ | 6,704 | $ | 4,272 | ||||
| Prepaid and other current assets | 620 | 591 | ||||||
| Total Current Assets | 7,324 | 4,863 | ||||||
| Property, plant and equipment, at cost: | ||||||||
| Property, plant and equipment | 140,241 | 138,581 | ||||||
| Less: Accumulated depreciation | (1,016 | ) | (713 | ) | ||||
| Net property, plant and equipment | 139,225 | 137,868 | ||||||
| Operating lease right-of-use assets | 152 | 217 | ||||||
| Finance lease right-of-use assets | 11 | 14 | ||||||
| Other long-term assets | 3,786 | 3,395 | ||||||
| Total Assets | $ | 150,498 | $ | 146,357 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable | $ | 7,247 | $ | 9,517 | ||||
| Series A-1 convertible notes | 4,986 | — | ||||||
| Accrued liabilities | 1,935 | 2,105 | ||||||
| Operating lease liability, current | 143 | 134 | ||||||
| Finance lease liability, current | 6 | 6 | ||||||
| Total Current Liabilities | 14,317 | 11,762 | ||||||
| Operating lease liability, net of current | 13 | 86 | ||||||
| Finance lease liability, net of current | 6 | 9 | ||||||
| Other long-term liabilities | 1,378 | 1,378 | ||||||
| Total Liabilities | 15,714 | 13,235 | ||||||
| Stockholders’ Equity: | ||||||||
| Common Stock, 200,000,000 shares authorized, $0.001 par value | ||||||||
| Issued shares - 78,439,226 and 64,830,081, respectively | ||||||||
| Outstanding shares - 78,439,065 and 64,829,920, respectively | 78 | 65 | ||||||
| Paid-in capital | 515,181 | 507,001 | ||||||
| Accumulated deficit | (380,217 | ) | (373,686 | ) | ||||
| Less: Treasury stock (161 shares), at cost | (258 | ) | (258 | ) | ||||
| Total Stockholders’ Equity | 134,784 | 133,122 | ||||||
| Total Liabilities and Stockholders’ Equity | $ | 150,498 | $ | 146,357 | ||||
WESTWATER RESOURCES, INC.
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(expressed in thousands of dollars, except share and per share amounts)
(unaudited)
| For the Three Months Ended | For the Six Months Ended | |||||||||||||||
| June 30, (unaudited) | June 30, (unaudited) | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Operating Expenses: | ||||||||||||||||
| Product development expenses | $ | (275 | ) | $ | (281 | ) | $ | (457 | ) | $ | (596 | ) | ||||
| Exploration expenses | (3 | ) | — | (10 | ) | (11 | ) | |||||||||
| General and administrative expenses | (3,133 | ) | (2,489 | ) | (5,427 | ) | (5,094 | ) | ||||||||
| Mineral property expenses | (10 | ) | (6 | ) | (10 | ) | (6 | ) | ||||||||
| Depreciation and amortization | (154 | ) | (62 | ) | (306 | ) | (124 | ) | ||||||||
| Total operating expenses | (3,575 | ) | (2,838 | ) | (6,210 | ) | (5,831 | ) | ||||||||
| Non-Operating Expense: | ||||||||||||||||
| Other expense, net | (280 | ) | (981 | ) | (321 | ) | (886 | ) | ||||||||
| Total other expense | (280 | ) | (981 | ) | (321 | ) | (886 | ) | ||||||||
| Net Loss | $ | (3,855 | ) | $ | (3,819 | ) | $ | (6,531 | ) | $ | (6,717 | ) | ||||
| BASIC AND DILUTED LOSS PER SHARE | $ | (0.05 | ) | $ | (0.07 | ) | $ | (0.09 | ) | $ | (0.12 | ) | ||||
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 75,983,998 | 57,427,333 | 71,974,217 | 56,757,116 | ||||||||||||