Ur-Energy Inc. reports developments as a domestic uranium producer focused on in-situ recovery projects in Wyoming. Company updates regularly cover production and wellfield activity at Lost Creek, operations at Shirley Basin, U3O8 sales and inventory, technical reports for mineral resources, and exploration or development work in its U.S. uranium portfolio.
News also includes financial results, conference-call releases, regulatory and permitting milestones tied to ISR operations, and capital-structure actions such as convertible senior notes or at-the-market equity programs. The company’s common shares trade as URG on the NYSE American and URE on the Toronto Stock Exchange.
Ur-Energy has priced an underwritten public offering of 34 million common shares and warrants, raising approximately $40.1 million in gross proceeds. Each share is priced at $1.18 with accompanying warrants that can purchase shares at $1.50, expiring in three years. The offering includes a 30-day option for underwriters to purchase an additional 5.1 million shares. Proceeds will be used for working capital at the Lost Creek uranium facility, operational readiness, and potential acquisitions. The offering's closing is expected by February 21, 2023.
Ur-Energy (NYSE American: URG) announced plans for an underwritten public offering of its common shares and warrants, aiming to enhance working capital for its Lost Creek uranium facility. The offering may include an additional 15% of securities, contingent upon market conditions. Proceeds will support operational readiness, potential acquisitions, and general corporate expenses. The securities will be sold under an effective shelf registration statement. Cantor Fitzgerald & Co. is managing the offering. Ur-Energy has produced approximately 2.7 million pounds of U3O8 from Lost Creek since operations began.
Ur-Energy has expanded its sales agreement to deliver an annual 600,000 pounds of U3O8 starting in 2024. This includes an increase of 100,000 pounds from a previous contract. The production ramp-up at the Lost Creek uranium mine will target an initial rate of 600,000 pounds annually, utilizing 50% of its licensed capacity. Additionally, Ur-Energy secured a contract with the National Nuclear Security Administration for a one-time sale of 100,000 pounds at $64.47 per pound, expected to generate $6.45 million in March 2023.
Ur-Energy Inc. (NYSE American: URG) announced a multi-year uranium sales agreement for the annual delivery of 300,000 pounds of U3O8 starting in 2024. The sales prices are expected to be profitable, escalating annually. This agreement increases Ur-Energy's total contracted sales to 500,000 pounds annually. The company is also awaiting a response from the U.S. Department of Energy regarding a Uranium Reserve bid proposal. CEO John Cash expressed confidence in their ability to meet contractual commitments and expand their contract book.
Ur-Energy Inc. (NYSE American: URG) has successfully completed Phase 1 of field testing on its patented injection well casing technology at the Lost Creek Uranium ISR Facility in Wyoming. The tests showed a 75% reduction in drill rig time and an 85% decrease in casing costs, amounting to a potential savings of $2.50 to $3.50 per pound of U3O8. The technology promises environmental benefits, such as reduced emissions and noise. The company plans to pursue Phase 2 testing and hopes to implement this technology commercially, potentially enhancing uranium recovery efficiency.
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.