Shares of Westwater Resources, Inc. (WWR) are surging almost 45 percent or $3.72 in Tuesday's morning trade at $12.00, after touching a new 52-week high of $12.90.
Monday, the battery materials company applauded the President's Executive Order signed on September 30, 2020, that addresses the threat to the U.S. domestic supply chain from reliance on critical minerals from foreign adversaries. The critical minerals referred to in the Order were previously identified by the Department of the Interior in May 2018, and include both natural graphite and vanadium.
Westwater Resources noted that the President's declaration highlights the importance of the company's plans to develop the Coosa Graphite Deposit in east-central Alabama. Westwater's business plan for the Coosa Graphite Project over the next two and a half years is to develop a U.S. domestic supply for natural graphite for use in all types of batteries in the U.S.
Westwater Resources has traded in a range of $22.65 to $51.56 in the past 52 weeks.
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