Ur-Energy Inc
TSX:URE

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Ur-Energy Inc
TSX:URE
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Price: 1.83 CAD -1.61% Market Closed
Market Cap: 688.5m CAD

Ur-Energy Inc
Investor Relations

Ur-Energy, Inc. is an exploration stage mining company, which engages in the development and exploration of mineral properties. The company is headquartered in Littleton, Colorado and currently employs 10 full-time employees. The company went IPO on 2005-11-29. The firm is engaged in uranium recovery and processing operations, in addition to the exploration for and development of uranium mineral properties. Its land portfolio in Wyoming includes 12 projects, 10 of these projects are in the Great Divide Basin (GDB), Wyoming, including its flagship project, Lost Creek Project (Lost Creek). The company controls approximately 1,800 unpatented mining claims and three State of Wyoming mineral leases for a total of approximately 35,400 acres at its Lost Creek Property, including the Lost Creek permit area and certain adjoining projects, which it refers to as LC East, LC West, LC North, LC South and EN project areas, collectively, with the Lost Creek Project, the Lost Creek Property.

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Last Earnings Call
Fiscal Period
Q2 2024
Call Date
Aug 27, 2024
AI Summary
Q2 2024

Production Ramp: Ur-Energy produced 64,170 pounds in Q2, up 64% from Q1, but management guided to the lower end of its 2024 production outlook of 550,000–650,000 pounds due to a slow start in H1.

Costs Declining: Production cash cost per pound drummed dropped sharply from $69 in Q1 to $48 in Q2 as output increased, with further reductions expected as ramp-up continues.

Revenue & Contracts: 2024 sales are projected at 570,000 pounds with expected revenue of $33.1 million and average price of about $58 per pound, based on strong contract coverage.

Strong Cash Position: Following a $69 million equity raise, Ur-Energy ended August with $121.3 million cash and no debt, with no further equity raises planned unless for M&A.

Shirley Basin Progress: Construction at Shirley Basin is on track to begin in early 2025 and finish by year-end 2025, with no supply chain delays reported.

Market & Demand: Management is optimistic on long-term uranium demand due to SMRs, data center power needs, and potential supply tightness, and sees a shift toward more market-linked contracts.

M&A and Exploration: The company is evaluating acquisition opportunities and renewed exploration at existing Wyoming projects, but will only pursue deals that are truly accretive.

Key Financials
Production (Q2)
64,170 pounds
Production (H1 2024)
109,000 pounds
Total Cash Cost per Pound Drummed (Q2)
$48 per pound
Average Cash Cost per Pound Drummed (H1 2024)
$56 per pound
Average Cost per Pound at Conversion Facility (Q2)
$48 per pound
Q2 Shipments
70,390 pounds
Q2 Sales
75,000 pounds
Ending Inventory (June 30, 2024)
74,625 pounds
Sales Guidance (2024)
570,000 pounds
Expected 2024 Revenue
$33.1 million
Average Sales Price (2024)
$58 per pound
Cash (August 6, 2024)
$121.3 million
Cash (June 30, 2024)
$61.3 million
Other Earnings Calls
2023
2017

Management

Mr. John W. Cash M.Sc.
CEO, President & Non-Independent Chairman
No Bio Available
Mr. Roger L. Smith CGMA, CPA, M.B.A., MBA
CFO & Chief Administrative Officer
No Bio Available
Mr. Steven M. Hatten B.Sc.
Chief Operating Officer
No Bio Available
Ms. Penne A. Goplerud
General Counsel & Corporate Secretary
No Bio Available
Mr. Ryan S. Schierman
Vice President of Regulatory Affairs
No Bio Available

Contacts

Address
COLORADO
Littleton
10758 W Centennial Rd Ste 200
Contacts
+17209814588.0
www.ur-energy.com