Uranium · Rare Earth · Mid-Tier · Producer · USA · Africa · Australia
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Portfolio Aggregate · 1 project
Portfolio mode — asset rows are for context only; tab totals use the company aggregation.
Energy Fuels Consolidated Portfolio
Portfolio · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Consolidated rollup of Energy Fuels Inc., a US-based critical materials producer mining uranium and producing natural uranium concentrates plus rare earths, vanadium and heavy mineral sands. Three reportable segments: uranium, rare earth elements and heavy mineral sands. The Company is a Production Stage Issuer under S-K 1300 with material extraction of mineral reserves at Pinyon Plain plus the La Sal and Pandora mines. In 2025 Energy Fuels mined ore containing ~1.72 million pounds of U3O8 across its three operating mines and recovered 1,014,500 lbs U3O8 at the Mill. Reserves are concentrated at Vara Mada, Pinyon Plain, Sheep Mountain and Donald. Carries six long-term utility contracts with 3.21 Mlb base deliveries through 2032. Total revenues of $65.92 million in 2025 (uranium $50.1M, HMS $15.8M).
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Operating · 2 projects
Pinyon Plain
Asset
Project information
As at 31 December 2025
Description
As at 31 December 2025
Fully permitted underground uranium breccia pipe mine on a 17-acre site within the Kaibab National Forest, Coconino County, Arizona, on the Colorado Plateau. Mine consists of a 1,470 ft deep shaft with three development levels mining the Main, Main Lower, Juniper and Juniper Lower zones in a vertical breccia pipe ~20,000-25,000 ft2 in cross-section. Production stage property under S-K 1300; ore mined here is one of the highest-grade in US history. In 2025 the Company mined 47,200 t of ore containing 1,534 klb U3O8 at probed grade 1.62% U3O8 and trucked ore 320 miles to the White Mesa Mill. Updated PFS effective Dec 31 2025 was filed Feb 26, 2026. Subject to a 3.5% Atomic Energy Commission Circular 5 royalty on uranium production. Net book value $8.34 million at Dec 31 2025.
Mining metrics
Multiple effective dates · exclusive
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Reserves & resources — detail
As at 31 December 2025
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La Sal Project
District
Project information
As at 31 December 2025
Description
As at 31 December 2025
Existing underground uranium-vanadium complex of seven individual mines and properties in the Uravan Mineral Belt, San Juan County, Utah, on the Colorado Plateau. From east to west: Pine Ridge (reclaimed), Pandora, Snowball, La Sal Decline, Beaver Shaft, Redd Block IV and Energy Queen. 100% owned through subsidiary EFR Colorado covering approximately 9,750 acres. Sandstone-hosted uranium-vanadium in the Top Rim sandstone of the Morrison Formation. Test-mining program 2018-2019; production restarted at La Sal and Pandora portions in Q4 2023. In 2025 the La Sal Complex mined 44.9 kt at probed 0.17% U3O8 and 1.01% V2O5 containing 155.1 klb U3O8 and 911 klb V2O5. Ore trucked to White Mesa Mill. Royalties include 10% on certain Pandora claims, 3-8% sliding-scale on others, 8% on State of Utah uranium leases plus 4% vanadium, 1% NSR on selected claims. Considered exploration stage under S-K 1300 (no Reserves).
Mining metrics
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Reserves & resources — detail
As at 31 December 2025
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Development · 3 projects
Vara Mada
Asset · Feasibility
Project information
As at 31 December 2025
Description
As at 31 December 2025
Development-stage heavy mineral sands and REE project formerly known as the Toliara Project, located in southwestern Madagascar approximately 18 km inland and 45 km north of Toliara. Held by subsidiary Base Toliara SARL under Permis D'Exploitation 37242, a 125 km2 mining lease valid until March 20, 2052. Acquired via the Base Resources acquisition on October 2, 2024. Government-imposed suspension lifted November 28, 2024; Madagascar MOU dated December 5, 2024 sets a 5% royalty plus $80 million development/community funding. The Jan 2026 S-K 1300 / NI 43-101 Feasibility Study estimates ~38-year mine life, post-tax NPV10 of ~$1.8 billion, IRR ~25%, peak EBITDA >$500M and average annual FCF ~$264M. Average annual product profile of ~1,033 kt ilmenite/zircon/rutile and ~24 kt monazite concentrate. FID expected as early as 2027 subject to Stability Mechanism and remaining permits. Net book value $205.8 million at Dec 31 2025.
Mining metrics
As at 31 January 2026 · exclusive
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Reserves & resources — detail
As at 31 December 2025
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Sheep Mountain
Asset · Feasibility
Project information
As at 31 December 2021
Description
As at 31 December 2021
Development-stage conventional uranium project in the Wyoming Basin Great Divide Basin, ~8 miles south of Jeffrey City, Wyoming. Includes the Congo Pit open pit (Congo, North Gap, South Congo areas) and the existing Sheep Underground (Sheep I & II), with a proposed on-site heap leach processing facility on a double-lined pad using sulfuric acid lixiviant. Approximately 5,055 acres in 218 unpatented mining claims plus ~640 acres State of Wyoming lease. BLM Plan of Operations approved Jan 6 2017; WDEQ Mine Permit revised Jul 2015 approving expanded surface and underground mining. License application for the on-site recovery facility on hold pending evaluation of off-site processing options and uranium market conditions. Mineral Reserves estimated at $65/lb U3O8 long-term price. Subject to 1-4% sliding scale royalty to Western Nuclear and 5% Wyoming State Mineral Lease royalty. Net book value $34.18 million at Dec 31 2025.
Mining metrics
As at 31 December 2021 · exclusive
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Reserves & resources — detail
As at 31 December 2021
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Donald
Asset · Feasibility · Ownership 9.48%
Project information
As at 31 December 2025
Description
As at 31 December 2025
Development-stage rare earth and mineral sands project in the Wimmera region of Victoria, Australia, ~300 km northwest of Melbourne, covering over 426 km2. Held through the Donald Project JV with Astron Corporation: as of Dec 31 2025 Energy Fuels has a 9.48% interest via EFRD with Astron holding the remaining 90.52%. Tenements include Mining Lease MIN5532 (2,784 ha) and Retention License RL2002 (24,371 ha). Energy Fuels can earn up to 49% by investing up to AUD$183 million and issuing $17.5 million in shares subject to a positive Donald FID. Conventional strip mining of WIM250 deposit using a Mining Unit Plant, Wet Concentrator Plant and Concentrate Upgrade Plant. EFA conditional Letter of Support for up to AUD$80M senior debt issued Oct 2025; targeted total funding ~AUD$520M at 50:50 D/E. Planned production H2 2027 of ~7,200 tpa REE oxide concentrate including ~1,000t NdPr, ~92t Dy, ~16t Tb. Subject to 2.75% royalty to Victoria's ERR. FID expected as early as Q1 2026. Astron is operator. Net book value $63.34 million in DPJV at Dec 31 2025.
Mining metrics
Multiple effective dates · exclusive
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Reserves & resources — detail
As at 31 December 2025
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Exploration · 5 projects
Roca Honda
Asset · Exploration
Project information
As at 31 December 2021
Description
As at 31 December 2021
Proposed underground uranium mine in the Ambrosia Lake subdistrict, McKinley County, New Mexico, ~22 road miles northeast of Grants. 4,440 acres on 163 unpatented lode mining claims plus a New Mexico State General Mining Lease and fee mineral interest. Held 100% by Strathmore Resources (US) Ltd, a wholly owned subsidiary. Roca Honda Resources LLC originally formed in 2007 with Sumitomo (40%); 100% acquired by EFR in May 2016. 95% expected metallurgical recovery. Exploration stage under S-K 1300 as Project does not have known Mineral Reserves; current activities focused on permitting (revised Plan of Operations with USFS, revised draft EIS). Subject to 1% gross revenue royalty on Section 9 claims and 5% State of New Mexico royalty on Section 16. Net book value $22.42 million at Dec 31 2025.
Mining metrics
As at 31 December 2021 · exclusive
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Reserves & resources — detail
As at 31 December 2021
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Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
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Bullfrog
Asset · Exploration
Project information
As at 31 December 2025
Description
As at 31 December 2025
Conventional uranium project (formerly the Henry Mountains Complex) in eastern Garfield County, Utah, 17 miles north of Bullfrog Basin Marina on Lake Powell, comprising two contiguous deposits: Copper Bench and Indian Bench. 127 unpatented mining claims on BLM land covering ~2,344 acres; 100% owned by the Company. Once developed Bullfrog will operate as an underground mine and material would be transported 117 road miles to the White Mesa Mill. Sandstone-hosted uranium in the Salt Wash Member of the Jurassic Morrison Formation. Updated Mineral Resource Estimate effective Dec 31 2024 issued May 2025 used a 3D block model superseding the prior GT contour method, increasing Indicated 15.5% to 10,510 klb. Considered exploration stage under S-K 1300; permitting historically deferred pending favorable market conditions. Cost of Project has been fully impaired; net book value nil.
Mining metrics
As at 31 December 2025 · exclusive
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Reserves & resources — detail
As at 31 December 2025
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Arizona Strip Properties
District · Exploration
Project information
Description
Collection of uranium properties on the Arizona Strip in north-central Arizona including the Arizona 1 Project, Wate Project and EZ Project. Pinenut has been reclaimed except for a two-acre disturbance associated with a monitor well. Mineral extraction at Arizona 1 commenced in December 2009 and continued until placed on standby in February 2014 on depletion of readily available resources. Wate and EZ Projects are in the evaluation stage with permitting currently on hold; in 2026 the Company will evaluate the existing mine plans and engineering associated with the EZ Complex and may determine to start the permitting process. Non-material properties; no S-K 1300 Mineral Resources or Mineral Reserves declared.
Mining metrics
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Bahia
District · Exploration
Project information
Description
Exploration-stage heavy mineral sands and REE project comprising 19 ANM Process Areas totaling 16,977 hectares (41,951 acres / 65.5 sq mi) between the municipalities of Prado and Caravelas in the state of Bahia, Brazil. 100% controlled by subsidiary Energy Fuels Brazil Ltda. Holocene-age placer beach/dune sand deposits prospective for ilmenite, rutile, zircon and monazite, with the latter expected to supply 3,000-10,000 t/yr monazite to the White Mesa Mill containing ~300-1,000 t/yr NdPr. Drilling restarted December 2025 following INEMA exploration license. During 2026 the Company expects to drill the southern half of the Bahia Project (planned 850 contract + 165 sonic holes) and complete bulk metallurgical test work, targeting an S-K 1300-compliant Initial Assessment and NI 43-101 technical report by year-end 2026. No S-K 1300 Mineral Resources or Mineral Reserves currently disclosed. Subject to 2% Brazilian government royalty plus 2% finders' fee royalty plus up to 1% surface owner royalty. Net book value $34.11 million at Dec 31 2025.
Mining metrics
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Arkose Mining Venture
District · Exploration · Ownership 81%
Project information
Description
Joint venture of ISR uranium properties in the Powder River Basin, Wyoming, held 81% by the Company through wholly owned subsidiary Uranerz and 19% by United Nuclear Corp. Holds 40,602 net acres in the Powder River Basin separate from the Nichols Ranch Project. Property units include North Jane (now part of Jane Dough at Nichols Ranch), South Doughstick, Cedar Canyon, East Buck, South Collins Draw, Sand Rock, Little Butte, Beecher Draw, Monument and Stage. Sandstones of Tertiary age with known uranium mineralization; limited exploration to date. Non-material property without S-K 1300 Mineral Resources or Mineral Reserves declared in this filing.
Mining metrics
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Suspended · 2 projects
Whirlwind
Asset · Suspended
Project information
Description
Conventional uranium-vanadium project comprising 126 unpatented lode mining claims, three Mineral Leases and a 320-acre Utah State Mineral Lease (~2,800 acres total) straddling the Utah/Colorado state line ~4.5 miles southwest of Gateway, Colorado, on the Colorado Plateau. Rehabilitation of the existing decline progressed in 2022-2023; water treatment plant commissioned October 2025 ahead of decline dewatering and rehabilitation completion planned for 2026. Subject to determination based on market conditions, could continue development in 2026 to be production-ready in 2027. Together with Nichols Ranch could add ~600 klb U3O8 per year by 2027. Non-material property with no S-K 1300 Mineral Resources or Mineral Reserves disclosed.
Mining metrics
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Nichols Ranch ISR
District · Suspended
Project information
As at 31 December 2021
Description
As at 31 December 2021
Existing in-situ recovery uranium complex in Campbell and Johnson Counties in the Pumpkin Buttes Mining District of the Powder River Basin, Wyoming, ~80 miles northeast of Casper. Complex comprises the Nichols Ranch Plant (100%), Nichols Ranch Wellfields (100%), Jane Dough Property (81%, balance held through Arkose Mining Venture by United Nuclear), Hank Project (100%) with permitted but not constructed Hank Satellite Plant, North Rolling Pin (100%) and West North Butte (100%) on 10,755 acres total. Production currently on standby pending market conditions and capex for additional wellfields; can recommence within ~12 months of a 'go' decision. In 2025 the Company drilled 394 delineation holes (79 Nichols Ranch, 315 Jane Dough) and continued planning for header houses 11-13. Considered exploration stage under S-K 1300; no Mineral Reserves. Net book value of Plant $19.36 million plus North Rolling Pin/WNB $10.22 million at Dec 31 2025.
Mining metrics
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Reserves & resources — detail
As at 31 December 2021
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Reclamation · 1 project
Kwale
Asset · Reclamation
Project information
As at 31 December 2025
Description
As at 31 December 2025
Heavy mineral sands operation in Kwale County, southern Kenya, held through subsidiary Base Titanium and acquired via the Base Resources transaction on October 2, 2024. Mining commenced in 2013 and concluded at end of December 2024 on depletion of remaining JORC ore reserves; processing concluded early January 2025 and all remaining product stockpiles were sold during Q1 2025 with the final HMS shipment in April 2025. Project is now in reclamation: South Dune completed in 2024; Central Dune, North Dune and Bumamani substantially completed in Q4 2025; tailings storage facility reclamation underway with over 250,000 eucalypts planted, expected to complete by 2027 with monitoring through 2038 when target average moisture content is expected to be attained. SML 23 mining lease has currently expired. As lower-grade ore is more costly to process, no gross profit on the 2025 HMS sales; SML 23 expired during reclamation.
Mining metrics
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Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
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Processing facilities · 1 project
White Mesa Mill
Asset
Project information
As at 31 December 2025
Description
As at 31 December 2025
Only operating conventional uranium mill in the United States, located on 4,816 acres of fee-owned land approximately six miles south of Blanding, Utah. Licensed to process 2,000 tons of mineralized material per day and to extract over 8.0 Mlb U3O8 per year. Includes a vanadium co-product recovery circuit and a Phase 1 REE separation circuit commissioned in 2024 capable of processing 8,000-10,000 tonnes of monazite per year for ~4,000-6,000 t TREO containing ~850-1,000 t separated NdPr. From 1980 through year-end 2025 the Mill has recovered ~40 Mlb U3O8 and ~46 Mlb vanadium. Stockpile capacity of 450,000 t mineralized material and ~2.5 Mt of tailings cells. The Phase 2 Circuit BFS (Jan 2026) estimates $410M initial capex for 6,000+ tpa NdPr, 200 tpa Dy, 60 tpa Tb. Mill License renewed 2018 (ten years). 2025 closure cost estimate $25.7 million.
Processing facilities
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Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
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How to read this tab
- The tables below list unit codes most often used in the Energy Metals sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Energy metals (uranium)
- U₃O₈ vs U metal. Reserves are usually in lb or t U₃O₈; multiply by ~0.848 for U metal. Fuel-cycle contracts may quote kgU as UF₆ (schema: kgu).
- % U₃O₈ vs ppm U₃O₈. Athabasca grades can exceed 10%; ISR deposits often 0.05–0.5%. The schema preserves the source unit.
- ISR vs conventional. ISR tonnage is often m³ leach solution, not rock mass — cost structure differs from underground/open-pit.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
- Consolidation method — how the issuer accounts for the asset. Separate from how much the company owns (ownership %) and who operates it, this accounting treatment decides whether an asset's figures sit inside the company's reported group totals or are stripped out to a single net line. It applies to operating assets (mines, oil & gas fields, processing facilities) and is left blank for royalties, streams, and company-level portfolio rollups.
- Consolidated — the company controls the asset and includes 100% of its figures in the group total; the portion it does not own is carried as a non-controlling interest (NCI). Control is not the same as a majority, so a company can consolidate an asset it holds less than half of. Where ownership is below 100%, the Portfolio shows the NCI percentage (100 minus the company's stake).
- Proportionate — a jointly-operated asset the company includes at its own share, line by line; the share is inside the group total.
- Equity method — an associate or joint venture shown on a single net line, with its revenue excluded from the group total. This is the usual reason a company's reported total is smaller than the sum of its individual assets; the Portfolio flags the share of a commodity total that is equity-accounted.
- Cost / other — a passive or fair-value holding, excluded from the group total.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Uranium
Heavy mineral sand
Copper uses kt Cu bands; lb-scale copper resources are converted to kt. Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
Assumptions
- Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.
Commodity guides
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