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 Mining Conference, held virtually from November 30 to December 1, 2020. Klenda's presentation is scheduled for 4:00 p.m. ET on November 30, where he will discuss the company’s business. Institutional investors interested in attending the presentation can register at www.hcwevents.com/mining. Ur-Energy operates the Lost Creek uranium facility in Wyoming, producing over 2.6 million pounds of uranium since operations began.
Ur-Energy Inc. (NYSE American: URG) announced the Senate Committee on Appropriations' approval of FY2021 funding measures, including $150 million for establishing the American Uranium Reserve. This initiative aims to reduce U.S. dependence on imported uranium, particularly from Russia and Kazakhstan. The reserve is expected to support at least two U.S. uranium mines and facilitate domestic uranium purchases of 17-19 million pounds over ten years. Ur-Energy prepares to ramp up production at its Lost Creek mine, maintaining operational readiness for an annual output of one million pounds.
Ur-Energy Inc. (NYSE American: URG) will present at the Fall Investor Summit on November 17, 2020, at 1:00 p.m. ET. The company's Chairman and CEO, Jeffrey Klenda, will discuss the business overview and meet with investors. The presentation can be accessed live via a webcast, with a follow-up availability on the Ur-Energy website. The company operates the Lost Creek uranium facility in Wyoming, having produced over 2.6 million pounds of uranium. Ur-Energy is focused on mining and processing uranium, with ongoing projects in the region.
Ur-Energy has filed its Form 10-Q for Q3 2020, reporting no U3O8 sales during this quarter.
CEO Jeff Klenda highlighted ongoing support from the U.S. Nuclear Fuel Working Group and the bipartisan Congress for the uranium industry.
The company expects substantial cost savings, estimated at over $7 million in 2021 and $4 million in 2022, due to deferred principal payments on its State Bond Loan.
Operational readiness at the Lost Creek facility is maintained, with potential production ramp-up to 1 million pounds annually.
Ur-Energy Inc. (NYSE American: URG) announced on October 21, 2020, the successful amendment of its State of Wyoming Bond Loan, deferring principal payments for another 18 months, saving approximately $7.83 million. The amendments allow for interest-only payments until October 2022, after which both principal and interest payments will resume. The company has also implemented cost-saving measures to reduce operational expenses, with estimated savings exceeding $11 million between 2021 and 2022. Ur-Energy continues to support initiatives to strengthen the uranium production industry in the U.S.
Ur-Energy Inc. (NYSE American: URG) will present at the 22nd Annual Global Investment Conference on September 14, 2020, at 1:30 p.m. ET. CEO Jeffrey Klenda will discuss the company's operations, including its in-situ recovery uranium facility in Wyoming. The presentation will be webcast live, accessible for 90 days after. Ur-Energy will also hold one-on-one meetings with investors on September 15, 2020. The company operates the Lost Creek facility, having produced over 2.6 million pounds of uranium.
Ur-Energy Inc. (NYSE American: URG) announced that its Chairman, Jeffrey Klenda, will present at the LD 500 Virtual Conference hosted by LD Micro from September 1-4, 2020. Klenda's presentation is scheduled for September 2, 2020, at 11:40 a.m. ET, where he will discuss the company's operations and provide updates on uranium markets. Investors can register for the event and schedule one-on-one meetings with Klenda. Ur-Energy operates the Lost Creek uranium facility in Wyoming and has produced approximately 2.6 million pounds of U3O8 since operations began.
Ur-Energy Inc. (URG) filed its Form 10-Q for Q2 2020, reporting U3O8 sales of $6.93 million from 167,000 pounds at an average price of $41.50 per pound. The company continues to emphasize its role in U.S. energy security following a Nuclear Fuel Working Group report. With a cash position of $4.1 million and proceeds from a recent direct offering, Ur-Energy aims to optimize operations at its Lost Creek facility. Future production increases are contingent on market conditions and ongoing legislative support for uranium reserves.
Ur-Energy Inc. (NYSE American: URG) announced the closing of a registered direct offering of 9 million common shares and accompanying warrants to purchase 4.5 million common shares at $0.52 per share. The offering generated gross proceeds of $4.68 million. The warrants, exercisable at $0.75 per share, are valid for two years. The funds will support operations and general corporate purposes. This offering was conducted under a shelf registration statement effective since May 27, 2020, with Cantor Fitzgerald & Co. acting as the sole placement agent.
Ur-Energy Inc. (NYSE American: URG) announced a registered direct offering of 9 million common shares at $0.52 each, along with one-half warrants for an additional 4.5 million shares. This offering is expected to generate approximately $4.68 million in gross proceeds, which will be used for sustaining operations, working capital, and general corporate purposes. The warrants are exercisable at $0.75 and expire in two years. Closing is anticipated around August 4, 2020.
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