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) announced that its Chairman and CEO, Jeffrey Klenda, will present at the H.C. Wainwright Spring Mining Conference on April 19, 2021. The conference will be conducted virtually from April 19-20, 2021. Klenda will provide an overview of the company's business and will be available for one-on-one meetings with registered investors. Interested institutional investors can register for the conference here. Ur-Energy operates the Lost Creek uranium facility in Wyoming and has over 2.6 million pounds of uranium produced.
Ur-Energy Inc. has received approval from the Wyoming Uranium Recovery Program for amendments to the Lost Creek Project license, allowing for expansion to six planned mine units. The annual plant production capacity has increased to 2.2 million pounds U3O8, significantly enhancing operational potential. With a cash position of $18.6 million and nearly 285,000 pounds of inventory, Ur-Energy is poised for growth, targeting increased production at Lost Creek and receiving final authorizations for the Shirley Basin mine.
Ur-Energy Inc. (NYSE American: URG) will present at the Q1 Investor Summit (Virtual) on March 25, 2021, at 10:30 a.m. ET. CEO Jeffrey Klenda will cover the company's operations and the uranium market. Attendees can participate in one-on-one meetings with Klenda by registering for the conference. Ur-Energy operates the Lost Creek uranium facility in Wyoming and has produced over 2.6 million pounds of uranium. After the live presentation, it will be available for viewing on their website (www.ur-energy.com).
Ur-Energy Inc. (NYSE American: URG) announced that CEO Jeffrey Klenda will participate in the 33rd Annual ROTH Conference, scheduled for March 15-17, 2021. Klenda will engage in one-on-one meetings during this virtual event, which showcases presentations from various companies across sectors. Ur-Energy, a uranium mining company based in Wyoming, has produced over 2.6 million pounds of uranium and is pursuing additional project permits, including LC East and Shirley Basin. For more details, visit www.ur-energy.com.
Ur-Energy Inc. (NYSE American: URG) announces participation in the PDAC International Virtual Convention from March 8 to March 11, 2021. The company will be featured in the Corporate Presentation Forum and invites investors to its virtual booth for one-on-one meetings. Ur-Energy operates the Lost Creek uranium recovery facility in Wyoming and has shipped over 2.6 million pounds of uranium since operations began. The company is also seeking to expand its operations at the LC East project area and the Shirley Basin Project.
Ur-Energy has filed its 2020 Annual Report, detailing significant financial data with a net loss of $14.8 million and a gross profit margin of 38% on U3O8 sales. The average price per pound sold decreased to $41.50 from $48.50 in 2019. As of February 24, 2021, the company had $18.6 million in cash and nearly 285,000 pounds of U3O8 in inventory. The CEO emphasized potential future growth driven by supportive U.S. policies on nuclear energy, including the establishment of a national uranium reserve.
Ur-Energy Inc. (NYSE American: URG) closed a public offering of 14,722,200 common shares and related warrants at a price of $0.90 each, raising approximately $15.24 million in gross proceeds. The offering included a 30-day option exercised in full, leading to a total of 16,930,530 shares and warrants issued. Proceeds will support operational readiness, potential acquisitions, and general working capital. The offering was managed by Cantor Fitzgerald & Co. and other financial partners, with securities registered under an effective SEC filing.
Ur-Energy Inc. (NYSE American: URG) responded to a request from the IIROC regarding the recent rise in its stock price and trading volume. The company confirmed it has no undisclosed material information that would explain this activity. Ur-Energy operates the Lost Creek in-situ recovery uranium facility in Wyoming, having produced over 2.6 million pounds of uranium since operations began. The company is also pursuing permit applications for the LC East project and the Shirley Basin Project.
Ur-Energy Inc. (NYSE American: URG) announced that Congress approved initial funding of $75 million for a national uranium reserve as part of the 2021 appropriations bill. The U.S. Department of Energy is tasked with coordinating this program, which includes establishing legal frameworks for uranium management. This funding is crucial for revitalizing the domestic uranium industry and enhancing national security. Ur-Energy’s Lost Creek Mine is well-positioned to benefit from this initiative, with a capacity to ramp up production rapidly, backed by substantial uranium resources.
Ur-Energy Inc. (NYSE American: URG) will present at the LD Micro Main Event on December 15, 2020, at 11:40 a.m. ET. The event will feature CEO Jeffrey Klenda, who will provide an update on the company's operations, followed by a 10-minute Q&A session. Ur-Energy operates the Lost Creek in-situ recovery uranium facility in Wyoming, having produced over 2.6 million pounds of uranium since starting operations. The company is also pursuing expansions at its LC East and Shirley Basin projects.
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