Welcome to our dedicated page for Ur-Energy news (Ticker: URG), a resource for investors and traders seeking the latest updates and insights on Ur-Energy stock.
Overview and Core Business
Ur-Energy Inc is a dynamic uranium mining company that specializes in uranium recovery operations in the United States. The company is dedicated to the acquisition, exploration, development, and operation of uranium mineral properties, with a primary focus on in-situ recovery (ISR) technologies. Operating its flagship Lost Creek facility in south‐central Wyoming, Ur-Energy uses advanced ISR methods to extract uranium efficiently and with minimal environmental disturbance.
Operational Excellence at Lost Creek
The Lost Creek facility is designed to optimize uranium extraction through state-of-the-art processing circuits and detailed geological and hydrological assessments. The in-situ recovery process, a cornerstone of Ur-Energy's operations, enables the company to achieve reliable and consistent production while adhering to strict regulatory standards and industry best practices. This technical proficiency in uranium extraction is reinforced by meticulous process engineering and continuous improvements that ensure operational integrity.
Strategic Expansion through Shirley Basin
In addition to its established operations at Lost Creek, Ur-Energy is advancing the Shirley Basin Project in Wyoming. This strategic asset builds on the historical significance of in-situ recovery in the region and is supported by baseline studies and permitting efforts. The Shirley Basin Project is set to expand the company's production capabilities, diversify its asset portfolio, and further solidify its position within the uranium mining sector. The development of Shirley Basin underscores Ur-Energy's commitment to operational expansion and technological innovation in uranium extraction.
Market Position and Industry Impact
Ur-Energy operates within a competitive environment in the uranium mining sector, where technological excellence and a deep understanding of mineral extraction drive success. The company distinguishes itself with an extensive exploration database and rigorous analysis programs that support asset development and resource replacement. With its common shares trading under the symbols URG and URE, Ur-Energy has established a notable presence in major North American capital markets, affirming its role in supporting global nuclear energy supply chains.
Expertise, Innovation, and Analytical Rigor
At the core of Ur-Energy’s operations is a commitment to technical expertise and continuous innovation. The company’s operational framework is built upon advanced ISR technology, detailed permitting processes, and comprehensive resource evaluation. Its analytical approach, based on robust geological data and extensive field studies, demonstrates a high level of experience and authoritativeness. This detailed, data-driven methodology ensures that the company maintains operational efficiency and adheres to industry-leading standards in safety and environmental management.
Common Questions Addressed
- What is in-situ recovery? In-situ recovery is a method of extracting uranium directly from the ore body by injecting and circulating a specially formulated solution to dissolve the uranium, thereby minimizing the need for conventional mining.
- How does Ur-Energy generate revenue? The company generates revenue primarily through the extraction and sale of uranium from its Lost Creek facility, supported by ongoing asset development and exploration initiatives.
- What differentiates Ur-Energy in the uranium mining sector? Its technical expertise in ISR, extensive permitting and regulatory compliance, and strategic asset portfolio—including the Shirley Basin Project—set it apart in the competitive uranium market.
This comprehensive overview serves as an authoritative resource, offering detailed insights into Ur-Energy’s business model, operational strategies, and market significance, making it a valuable reference for investors, analysts, and industry observers.
Ur-Energy (NYSE: URG) has announced a delay in filing its 2024 annual financial statements, management's discussion and analysis, and related documents beyond the prescribed deadlines. The delay stems from an accounting issue regarding the classification of certain stock options as a liability under the company's Amended and Restated Stock Option Plan.
The non-cash reclassification from equity to liabilities and potential adjustment to stock compensation expense will impact options from late 2024. The company expects to file the required documents by April 14, 2025. No restatement is anticipated for the 2023 financial statements.
As a result, Ur-Energy has applied for a management cease trade order (MCTO), which would restrict the CEO and CFO from trading company securities while allowing common shares to continue trading on the TSX and NYSE American. The company confirms it is not subject to any insolvency proceedings.
Ur-Energy (NYSE:URG) has emerged as the largest uranium producer in the US, with its Lost Creek ISR project leading production from Q3 2023 through Q3 2024. The company captured approximately 81,767 pounds U3O8 in Q4 2024 and a total of 265,744 pounds U3O8 in 2024. Lost Creek's life of mine production exceeded 3.0 million pounds in Q3 2024.
The company is expanding operations with the Shirley Basin ISR project, currently under construction and expected to begin commissioning in January 2026. This addition will increase Ur-Energy's licensed production capacity by approximately 83%. Construction progress includes completed monitor well installation, power supply setup, and ongoing facility upgrades. The company maintains 20 drill rigs at Lost Creek and plans to deploy approximately six additional rigs at Shirley Basin in Q2 2025.
Ur-Energy also announced plans for a 2025 exploration program in the Great Divide Basin, targeting approximately 180 exploration holes and 20 wells across their 35,000-acre property portfolio.
Ur-Energy (NYSE American:URG) announces its participation in the virtual 2025 Mining Conference: Mining and Supplying Critical Minerals & Precious Metals hosted by Maxim Group on January 16, 2025. Chairman and CEO John Cash will engage in a fireside chat at 9:30 a.m. Mountain Time / 11:30 a.m. Eastern Time.
The company operates the Lost Creek in situ recovery uranium facility in Wyoming, which has produced approximately 2.8 million pounds of U3O8 since operations began. Ur-Energy has received major permits for its second facility, Shirley Basin, and is advancing its construction following a March 2024 'go' decision. The company is awaiting regulatory authorization for Lost Creek's expansion.
Ur-Energy (URG) reported Q3 2024 results with production at Lost Creek reaching 75,075 pounds captured and 71,804 pounds dried. The company sold 100,000 pounds U3O8 at $61.65 per pound, generating $6.2 million in revenue. Cash resources increased to $129.4 million from $68.2 million at year-end 2023. Due to ramp-up challenges, 2024 production guidance was revised to 240,000-280,000 pounds U3O8. The company expects total 2024 sales of 570,000 pounds at an average price of $58.15 per pound. Development continues at Shirley Basin, with production expected to begin in early 2026, potentially doubling annual production capacity to 2.2M pounds.
Ur-Energy congratulates Constellation on securing an 835-megawatt power purchase agreement with Microsoft, marking Constellation's largest such deal. The agreement will restart Pennsylvania's Three Mile Island Unit 1 reactor, creating 3,400 jobs and offsetting 61 million metric tons of CO2 over 20 years. Ur-Energy, the largest domestic uranium producer in the U.S. in 2024 H1, continues as a key supplier to Constellation from its Wyoming operations. The company is expanding with its Shirley Basin ISR mine, expected to complete in late 2025, increasing production capacity by 83%. This development aligns with growing data center electricity demands, projected to reach 9.1% of U.S. electricity generation by 2030.
Ur-Energy provides updates on its Lost Creek mine operations and Shirley Basin construction, along with revised 2024 production guidance. Key points include:
- Five header houses coming online at Lost Creek in 2024, with HH2-10 active since mid-August
- Average production solution headgrade in August was 67.1 mg/L
- Fifth yellowcake shipment of 2024 delivered on September 11
- 15 drill rigs on site at Lost Creek, with plans to redirect some to exploration projects
- 2024 production guidance revised to 325,000-475,000 pounds of U3O8 captured
- Shirley Basin development on schedule, with 120 monitor wells installed
- Shirley Basin construction expected to be complete in late 2025
The company faces challenges with employee training and retention but reports steady progress in production ramp-up.
Ur-Energy Inc. (NYSE American:URG)(TSX:URE) has announced its upcoming 2024 Q2 webcast and teleconference, scheduled for Tuesday, August 27, 2024, at 9:00 a.m. MT / 11:00 a.m. ET. The event will feature a review of the company's Q2 operations and results, followed by a Q&A session. Participants can join via phone or online, with pre-registration available.
Ur-Energy is a uranium mining company operating the Lost Creek facility in Wyoming, which has produced approximately 2.7 million pounds of U3O8 since operations began. The company is also advancing construction at its second facility, Shirley Basin, following a March 2024 'go' decision. Ur-Energy's primary trading market is on the NYSE American under the symbol 'URG', with additional listing on the Toronto Stock Exchange as 'URE'.
Ur-Energy (URG), a uranium mining and processing company, is set to participate in the Q3 Investor Summit on August 20th, 2024. The event, focusing on 50 micro-cap companies with catalysts or strong market performance, will feature Ur-Energy's presentation at 3:00 pm ET. Investors can access the webcast at https://www.webcaster4.com/Webcast/Page/3062/51139.
In addition to the presentation, Ur-Energy will be available for one-on-one meetings throughout the day. The summit offers a unique opportunity for qualified investors to engage with promising micro-cap companies, featuring live Q&A sessions. Interested investors are encouraged to register for this complimentary event to gain insights into Ur-Energy's operations and potential.
Ur-Energy Inc. (NYSE American:URG)(TSX:URE) has released its 2024 Q2 results, highlighting increased production at Lost Creek Mine and progress at Shirley Basin Project. Key points include:
1. Q2 production: 70,679 pounds captured, 64,170 pounds dried and packaged, 70,390 pounds shipped.
2. Q2 sales: 75,000 pounds U3O8 at $61.65 per pound, generating $4.6 million.
3. 2024 projected sales: 570,000 pounds U3O8 at $58.15 per pound, expecting $33.1 million revenue.
4. Cash position: $61.3 million as of June 30, 2024.
5. Equity financing: Raised $69.0 million through public offering.
6. Production guidance: Lowered to 550,000-650,000 pounds U3O8 for 2024.
7. Contract book: 5.7 million pounds U3O8 through 2030.
Ur-Energy is advancing Shirley Basin Project, aiming to double annual production capacity to 2.2 million pounds U3O8 by 2026.
Ur-Energy Inc. (NYSE American:URG)(TSX:URE) has announced the pricing of its underwritten public offering of 57,150,000 common shares at $1.05 per share. The company expects to raise approximately $60.0 million in gross proceeds, before deducting underwriting discounts, commissions, and other expenses. Ur-Energy has granted underwriters a 30-day option to purchase up to 8,572,500 additional shares on the same terms. The offering is set to close around July 29, 2024. Cantor is acting as the sole book-running manager, with several co-managers. The company plans to use the net proceeds for working capital, Lost Creek ramp-up, Shirley Basin development, potential acquisitions, and general corporate purposes.
FAQ
What is the current stock price of Ur-Energy (URG)?
What is the market cap of Ur-Energy (URG)?
What is Ur-Energy's primary business?
How does in-situ recovery work in their operations?
What are the key facilities of Ur-Energy?
Where is Ur-Energy listed?
How does the company manage exploration and asset development?
What factors contribute to its competitive position?
How does Ur-Energy maintain operational efficiency?
Is Ur-Energy involved in any other mining activities?
