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.
Ur-Energy Inc. will present at the Emerging Growth Conference on November 30, 2022, from 9:40 a.m. to 10:10 a.m. Eastern Time. CEO John Cash will discuss preparations at Lost Creek for increased production and report on innovative R&D projects, including a technology under provisional patent aimed at reducing rig time and environmental impact. The conference, which caters to a broad audience of investors, will be virtual. An archived webcast will be available post-event. Ur-Energy, trading under the symbol URG, runs the Lost Creek uranium facility in Wyoming.
Ur-Energy has filed its 10-Q for the quarter ending September 30, 2022. CEO John Cash highlighted ongoing construction and drilling at the Lost Creek Mine and the strengthening support for nuclear energy. The company has cash resources of $39.9 million and inventory of 324,000 pounds of U3O8. A new multi-year sales agreement with a U.S. nuclear utility will begin in mid-2023, ensuring 200,000 pounds of annual deliveries. The recent promotion of Steve Hatten to Chief Operating Officer emphasizes Ur-Energy's commitment to operational excellence.
Ur-Energy (NYSE American: URG) has filed its Form 10-Q for the quarter ended June 30, 2022, reporting a cash position of $42.2 million and an inventory of 324,000 pounds of uranium, worth approximately $15.7 million. The company has successfully tested its patented well installation technology and is optimistic about winning a bid from the Department of Energy for a new U.S. Uranium Reserve. Lost Creek operations continue at reduced levels, maintaining cost control and preparing for full production when conditions permit.
Ur-Energy Inc. (NYSE American: URG) held its Annual General and Special Meeting of Shareholders on June 2, 2022, where all nominee Directors were elected. John W. Cash was appointed Chairman of the Board, succeeding Jeffrey Klenda, who retired. Notably, a 79.07% approval for the "say on pay" advisory vote on executive compensation was secured, alongside a 60.62% majority for the Amended and Restated Restricted Share Unit and Equity Incentive Plan. The company, which operates the Lost Creek uranium facility, is progressing with its second facility at Shirley Basin.
Ur-Energy Inc. (NYSE American: URG) reported its Q1 2022 financial results, maintaining cash resources of $46.3 million. CEO John Cash highlighted rising uranium prices amid global supply concerns. The Lost Creek project remains operational at reduced levels but is progressing towards full production readiness, with improvements expected by Q3 2022. The company is focused on securing advantageous contracts and advancing R&D to lower production costs. The uranium market shows increased interest from financial players, supporting ongoing operations and future production plans.
Ur-Energy (NYSE American: URG) announced that CEO John Cash will present at the Q2 Investor Summit in New York City on May 4, 2022. He will discuss preparations at the Lost Creek facility, aiming to ramp up uranium production. Cash will also outline advancements in R&D, including a technology reducing disposed water by 90% and a provisional patent expected to cut wellfield rig time and costs. The summit features over 65 companies and 300 investors. The presentation will be webcasted for those unable to attend.
Ur-Energy (NYSE American: URG) will present at the Emerging Growth Conference on April 27, 2022, from 9:30 a.m. to 10:00 a.m. Eastern Time. CEO John Cash will discuss progress at the Lost Creek facility, aimed at accelerating production. He will also share updates on innovative R&D projects, including a technology that reduces disposed water by an additional 90% and a project to lower wellfield rig time and costs. The presentation will be available live and archived online.
Ur-Energy (NYSE American: URG) has provided an operational update on its Lost Creek project, highlighting progress in well installation and construction efforts. Completion of well installation in Header House 2-4 is anticipated in May 2022, with production readiness expected in Q3 2022. The company is also addressing supply chain challenges by pre-ordering materials for additional header houses. Ongoing R&D initiatives focus on innovative casing materials and advanced water treatment systems, aimed at enhancing efficiency and reducing environmental impact.
Ur-Energy filed its Annual Report on Form 10-K for 2021, reporting a net loss of $22.9 million and maintaining cash resources of $46.2 million. The company captured 251 pounds of U3O8 but made no sales due to low uranium prices. CEO John Cash emphasized the growing support for nuclear energy and the company's preparedness to ramp up production at Lost Creek, which can reach 1.2 million pounds annually post-decision. With 284,000 pounds of U3O8 inventory valued at $14.4 million, Ur-Energy is poised to respond to market demands and government programs for uranium reserves.
Ur-Energy Inc. (NYSE American: URG) has announced the resignation of Jeffrey T. Klenda as CEO, effective March 1, 2022. John W. Cash, previously Vice President of Regulatory Affairs, will succeed him as CEO and will also join the Board of Directors. Klenda will continue as Chairman and President until his retirement at the Annual General Meeting in June 2022. Cash brings nearly 30 years of uranium industry experience and has previously managed the permitting processes for the Lost Creek and Shirley Basin uranium mines. This leadership transition aims to ensure continuity and growth in the company’s operations.
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