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. (NYSE American: URG) reported its Q3 results for 2021, revealing a cash position of $40.9 million and 285,000 pounds of U3O8 inventory valued at $13.4 million. The company has initiated a development program at its Lost Creek facility to advance operations to full production readiness. A significant market shift has seen uranium spot prices rise over 70% this year. Ur-Energy is preparing for a potential ramp-up in production, with plans for additional header houses in Mine Unit 2 and exploring opportunities at the Shirley Basin project.
Ur-Energy Inc. (NYSE American: URG) announced its Q2 2021 results, reporting over $20 million in cash and 285,000 pounds of U3O8 in inventory. The company received regulatory approvals for its Shirley Basin Project, effectively doubling its production capacity. Operations at Lost Creek are ongoing at reduced levels, with plans to ramp up production as market conditions improve. Debt forgiveness of $903,000 was also recognized. Ur-Energy continues to monitor the uranium market to optimize operations and prepare for potential expansion.
Ur-Energy (NYSE American: URG) announced it will join the Russell 3000 Index effective June 28, 2021. This inclusion reflects a significant increase in market capitalization and is expected to enhance shareholder value and expand the shareholder registry. The Russell Index is influential, with approximately $10.6 trillion in assets benchmarked against it. Ur-Energy operates the Lost Creek Project in Wyoming and is set to ramp up production, having obtained necessary permits for its second facility, Shirley Basin.
Ur-Energy Inc. (NYSE American: URG) held its Annual and Special Meeting on June 3, 2021, where all nominated directors were elected. Jeffrey T. Klenda received 99.49% of votes for his position. The shareholders reappointed PricewaterhouseCoopers LLP as auditors and approved the executive compensation plan with 80.44% support. Amendments to the Restricted Share Unit and Equity Incentive Plan were passed with 78.08% approval. Ur-Energy operates the Lost Creek uranium facility and is poised to begin construction at its second site, Shirley Basin.
Ur-Energy Inc. (NYSE American: URG) announced that its Chairman and CEO, Jeffrey Klenda, will present at the Sidoti Virtual MicroCap Conference on May 20, 2021, at 11:30 a.m. ET. The presentation will cover the company's business and include opportunities for virtual one-on-one investor meetings. Ur-Energy operates the Lost Creek in-situ recovery uranium facility in Wyoming and has produced approximately 2.6 million pounds of U3O8 since operations began. The company has received permits to begin construction at its second facility, Shirley Basin.
Ur-Energy Inc. (NYSE American: URG) announced that its Chairman and CEO, Jeffrey Klenda, will present at the Q2 Virtual Investor Summit on May 18, 2021, at 11:45 a.m. ET. He will provide a company overview and be available for one-on-one investor meetings. The summit, featuring over 100 companies and 300 investors, runs from May 17-18, 2021. Investors can join Mr. Klenda's presentation via a live webcast, with links provided for registration.
Ur-Energy operates the Lost Creek uranium facility in Wyoming and has begun preparations for its second facility at Shirley Basin.
Ur-Energy Inc. (NYSE American: URG) announced that Chairman and CEO Jeffrey Klenda will present at the Benzinga Global Small Cap Conference on May 14, 2021, at 3:05 p.m. ET. The virtual conference runs from May 13-14, 2021, and offers opportunities for one-on-one meetings with registered investors.
Ur-Energy operates in-situ recovery uranium facilities in Wyoming and has produced approximately 2.6 million pounds of uranium since starting operations. The company is also preparing for construction at its Shirley Basin facility.
Ur-Energy Inc. (NYSE American: URG) has filed its Form 10-Q for Q1 2021, reporting cash resources of $17.6 million. The company has received regulatory approvals for its Lost Creek and Shirley Basin projects, enhancing its production capabilities. A public offering yielded net proceeds of approximately $13.9 million, and the company continues to optimize operations at Lost Creek, which can ramp up to full production in six months. The company is poised to support the U.S. national uranium reserve program and is well-positioned amid growing bipartisan support for nuclear energy.
Ur-Energy Inc. (NYSE American: URG) has announced that it has received final approvals from the State of Wyoming and the EPA for its Shirley Basin In Situ Uranium Project. These include the Source and Byproduct Material License, Permit to Mine, and Aquifer Exemption, enabling construction to commence. This project effectively doubles Ur-Energy's Wyoming-based uranium recovery capacity. The Shirley Basin Project hosts 8.8M pounds of uranium resources, with a planned processing capacity of up to 2M pounds annually. The company maintains a strong cash position of $18.6 million.
Ur-Energy, a uranium mining company, will have its Chairman and CEO, Jeffrey Klenda, present at the Emerging Growth Conference on April 14, 2021, from 1:15 p.m. to 2:00 p.m. Eastern Time. The virtual conference will provide an overview of Ur-Energy's business, including its operational achievements at the Lost Creek facility, which has produced over 2.6 million pounds of uranium. Registrations are encouraged, and an archived webcast will be available for those unable to attend live.
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