Ur-Energy Inc. - URG STOCK NEWS

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.

Ur-Energy Inc. (NYSE American: URG, TSX: URE) is a prominent uranium mining company headquartered in Littleton, Colorado, with a registered office in Ottawa, Ontario. The company is renowned for operating the Lost Creek in-situ recovery (ISR) uranium facility situated in south-central Wyoming. This advanced facility has a substantial physical design capacity of two million pounds per year and has produced and packaged approximately 2.8 million pounds of U3O8 since operations commenced.

Ur-Energy's operations encompass the full spectrum of uranium mining and recovery activities, including acquisition, exploration, development, and production of uranium mineral properties. The company’s project portfolio is bolstered by an extensive exploration database and sophisticated analysis programs, which underscore its strong potential for exploration and development.

One of Ur-Energy’s significant milestones is the Shirley Basin Project, acquired from Pathfinder Mines in 2013. This project, which is fully permitted and licensed, is advancing towards construction and operation. Once operational, Shirley Basin is expected to significantly enhance the company’s production capacity, with a license to produce one million pounds of U3O8 per year.

Financially, Ur-Energy has demonstrated a robust performance. For instance, in 2023, the company sold 280,000 pounds of U3O8, generating $17.3 million in revenue, and recently reported cash and cash equivalents of $59.7 million as of December 31, 2023. The company's strong financial foundation supports its continued investment in expanding production and developing new projects.

Ur-Energy’s commitment to expanding its market presence is evident in its strategic sales agreements. The company has secured several multi-year agreements with global nuclear industry players, ensuring stable revenue streams well into the future. Notably, Ur-Energy has agreements extending through 2030, with provisions for further extensions.

The company’s leadership, led by CEO and Chairman John Cash, emphasizes the critical role of nuclear energy in achieving energy security and decarbonization goals. Ur-Energy's focus on increasing production capacity aligns with the growing recognition of nuclear power as a vital component of the global energy mix.

Recent Achievements and Developments:

• Ur-Energy achieved significant production milestones at its Lost Creek facility, capturing over 103,000 pounds of U3O8 in 2023, with a notable Q4 production of 68,448 pounds.
• The company has initiated the buildout of the Shirley Basin Project, which will nearly double its annual permitted mine production capacity.
• Ur-Energy has filed updated S-K 1300 Technical Report Summaries for its Lost Creek Property and Shirley Basin Project, reaffirming their potential viability and economic returns.
• Ur-Energy has secured additional sales agreements, increasing its delivery commitments and ensuring a strong revenue outlook.

Ur-Energy Inc. is strategically positioned to capitalize on the increasing demand for uranium, driven by the global shift towards clean nuclear energy. With its advanced projects, robust financial health, and strategic market positioning, Ur-Energy continues to be a key player in the uranium mining sector.