Ur-Energy Announces First Shipment of Uranium from Shirley Basin Mine, Wyoming
Rhea-AI Summary
Ur-Energy (NYSE American: URG) reported that on August 19, 2026, it completed the first shipment of uranium from its Shirley Basin ISR mine to the Lost Creek processing plant in Wyoming, marking the start of full operations and the transition to a multi-asset U.S. uranium producer.
Shirley Basin, which moved from construction decision to production in about two and a half years, has licensed wellfield and toll-processing capacity of up to 2.0 million pounds of U3O8 equivalent and operates as a satellite to the Lost Creek hub. According to Ur-Energy, Lost Creek and Shirley Basin together have 4.2 million pounds of combined annual licensed production and toll-processing capacity, forming the basis of a scalable hub-and-spoke growth platform in Wyoming.
Positive
- First uranium shipment from Shirley Basin completed on August 19, 2026, initiating full operations and production ramp-up.
- Second ISR operation online in Wyoming, transitioning Ur-Energy to a multi-asset domestic uranium producer.
- Shirley Basin licensed capacity of up to 2.0 million pounds of U3O8 equivalent per year.
- Combined annual licensed capacity of 4.2 million pounds of U3O8 across Lost Creek and Shirley Basin.
- Construction-to-production timeline of about two and a half years at Shirley Basin demonstrates rapid project execution.
- Hub-and-spoke model leverages Lost Creek infrastructure, aiming to avoid duplicative capex and support scalable growth.
Negative
- None.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 10 | Second-quarter earnings | Positive | -2.1% | Higher production, shipments, sales, and cash were followed by a negative reaction. |
| Aug 05 | Earnings date announcement | Neutral | +0.8% | The company scheduled its second-quarter results release and conference call. |
| Jul 14 | Board leadership change | Neutral | -1.5% | Kathy Walker became board chair while John Cash remained a director. |
| Jun 29 | Regulatory authorization | Positive | -2.2% | Wyoming authorized full-scale Shirley Basin operations and resin transport. |
| Jun 17 | Lost Creek shipment milestone | Positive | -5.5% | The 100th yellowcake shipment lifted cumulative Lost Creek shipments above 3.5 million pounds. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent positive operational and earnings announcements were followed by negative 24-hour reactions, indicating repeated divergence.
Key Terms
isr technical
uranium in-situ recovery technical
u3o8 technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second ISR mine enters full operations and begins production ramp-up
CASPER, WY / ACCESS Newswire / August 20, 2026 / Ur-Energy Inc. (NYSE American:URG)(TSX:URE) ("Ur-Energy" or the "Company"), America's largest and fastest-growing domestic ISR uranium producer, is pleased to announce that on August 19, 2026, it made the first shipment of uranium from its Shirley Basin mine to its Lost Creek processing plant in Wyoming.
Matt Gili, President & CEO of Ur-Energy, stated, "This first shipment is not only the start of full operations at Shirley Basin, it also marks Ur-Energy's transition to a multi-asset, domestic U.S. uranium producer. It is important to note that Shirley Basin moved from construction decision to production in just two and a half years. This is a clear demonstration of our team's ability to progress through permitting, construction, and startup in a highly effective manner. Crucially, this milestone also validates our capital-efficient, hub-and-spoke development model and further strengthens Ur-Energy's position as a leading U.S. uranium producer."
With licensed wellfield and toll processing capacity of up to 2.0 million pounds of U3O8 equivalent, Ur-Energy's Shirley Basin mine is the Company's second uranium in-situ recovery ("ISR") operation in Wyoming. As previously announced, initial mining operations commenced at the mine in April 2026. Final authorization to advance to full operations was received from the State of Wyoming Department of Environmental Quality in late June 2026.
Shirley Basin is being run as a satellite mine of the Company's Lost Creek hub operation. Lost Creek, which is home to the largest operating ISR mine in the U.S., has a proven and tested facility that has processed and shipped more than 3.5 million pounds of U3O8 to the conversion facility for delivery to the Company's customers. This hub-and-spoke model is the basis of Ur-Energy's growth platform in Wyoming. It avoids duplicative infrastructure, improves capital efficiency, and can be scaled at an accelerated pace.
Now that shipments from Shirley Basin to Lost Creek have commenced, the Company will execute on its strategy for ramp-up to full commercial levels, while continuing to advance its other organic growth opportunities in the district.
About Ur-Energy
Ur-Energy is the largest and fastest-growing ISR uranium mining company in the United States. It owns and operates the Lost Creek ISR uranium facility in south-central Wyoming, which has produced more than 3.5 million pounds of U₃O₈ since operations began, and the Shirley Basin ISR operation in central Wyoming, where uranium recovery commenced in April 2026. Lost Creek and Shirley Basin have combined annual licensed production and toll-processing capacity of 4.2 million pounds of U₃O₈. The Company is also engaged in exploration and development activities at a selection of projects in the Great Divide Basin uranium district. Ur-Energy's common shares trade on the NYSE American under the symbol "URG" and on the Toronto Stock Exchange under the symbol "URE." The Company's corporate headquarters is in Casper, Wyoming, and its registered office is in Ottawa, Ontario.
Contact Ur-Energy Investor Relations at:
Richard Matthews
Phone: +1 (604) 355-7179
Email: info@ur-energy.com
Cautionary Statement Regarding Forward-Looking Information
This release may contain "forward-looking statements" within the meaning of applicable securities laws regarding events or conditions that may occur in the future (e.g., our ability and the expected or planned timing at Shirley Basin to ramp up and increase production or to reach full commercial levels of production; our ability in the future to execute on our construction, development, and operating plans; and our ability in the future to comply with regulatory requirements and receive regulatory approvals). Generally, forward-looking statements can be identified by use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "estimates," "intends," "anticipates," "does not anticipate," "believes," or variations of the foregoing, or statements that certain actions, events or results "may," "could," "might" or "will" "be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore that is mined varying from estimates; production rates, methods, and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental, or other project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development; changes in governmental polices or market conditions; and other factors described in the public filings of the Company that are available at www.sec.gov and www.sedarplus.ca. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations, and opinions of management as of the date hereof, and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or changes in management's beliefs, expectations, or opinions that occur in the future, except as required by applicable law.
SOURCE: Ur-Energy Inc.
View the original press release on ACCESS Newswire