Ur-Energy Inc.

Ur-Energy Inc. (NYSE American: URG, TSX: URE) is a U.S.-based uranium mining company dedicated to the development and production of clean nuclear fuel. Headquartered in Casper, Wyoming, Ur-Energy owns and operates the Lost Creek in situ recovery (ISR) uranium facility, with additional development at the Shirley Basin project, both located in Wyoming, one of North America’s premier uranium jurisdictions. Since beginning production in 2013, the company has established itself as a reliable, low-cost uranium producer, with a commitment to environmentally responsible operations.

Ur-Energy’s Lost Creek facility resumed commercial production in 2023 after completing an expansion of its capacity and infrastructure, allowing for low operating costs. The company has secured multiple off-take agreements with utilities, providing stable revenue and a strong cash position to support continued development. With the upcoming Shirley Basin project set to add production capacity, Ur-Energy is well-positioned to supply the growing demand for uranium, driven by increased focus on carbon-free energy solutions globally.

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Ur-Energy presents a compelling investment opportunity as it expands its uranium production to meet rising demand fueled by the global transition toward clean energy. The Lost Creek facility, with a capacity of 1.2 million pounds of U3O8 per year and a proven history of low-cost production, anchors Ur-Energy’s position as a leading U.S. uranium producer. The company’s off-take agreements, totaling approximately 5.72 million pounds, provide stable cash flow and highlight its value to the U.S. energy sector, particularly as recent legislation emphasizes energy independence and domestic uranium production.

The Shirley Basin project, expected to come online in 2025, will further enhance Ur-Energy’s production capacity, enabling it to respond to market shortages and benefit from favorable pricing conditions. Situated in Wyoming, a Tier-1 mining jurisdiction, Ur-Energy has a strong foundation to expand its footprint. As demand for uranium intensifies and new legislation in the U.S. supports domestic production, Ur-Energy is strategically positioned to capture substantial market share, offering investors exposure to a de-risked, growth-focused uranium producer.

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Ur-Energy Inc. is led by a team of seasoned professionals with extensive experience in uranium mining, project development, and corporate strategy. At the helm is CEO John Cash, a veteran in the uranium industry with over 30 years of experience in both exploration and operations. His expertise in ISR (in situ recovery) technology has been instrumental in advancing the Lost Creek and Shirley Basin projects, ensuring the company remains a low-cost, efficient uranium producer.

Supporting Cash is Roger L. Smith, Chief Financial Officer and Chief Administrative Officer, who brings over three decades of financial management expertise. Smith has overseen Ur-Energy’s financial strategy, ensuring strong fiscal discipline and a robust capital position. Heading the technical team is Steven M. Hatten, Chief Operating Officer. He was named Ur-Energy Chief Operating Officer in October 2022. Steven has 30 years of experience in uranium production with a strong background in in situ recovery uranium design and operations. 

This leadership team, strengthened by a diverse Board of Directors with experience across mining, energy, and regulatory compliance, positions Ur-Energy to navigate the complexities of the uranium market while executing its strategic growth plan.

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Ur-Energy’s growth strategy focuses on expanding production capacity while maintaining a low-cost structure, bolstered by its flagship Lost Creek project and the upcoming Shirley Basin development. Following Lost Creek’s commercial restart in 2023, Ur-Energy has initiated production ramp-up, including the installation of new header houses to meet increased demand. The company’s experienced operational team and efficient ISR processes enable it to scale production rapidly and maintain cost-effective operations.

The Shirley Basin project, currently in the early stages of construction, is expected to enhance Ur-Energy’s annual production by an additional 1.0 million pounds of U3O8 once operational. This project builds on existing infrastructure and proven ISR technology, significantly reducing development risk and enabling a streamlined path to production.

Ur-Energy’s growth strategy also emphasizes environmental sustainability. The company has pioneered water recycling advancements in ISR processes, reducing water use by 18% beyond industry standards. This focus on operational efficiency and environmental responsibility aligns with Ur-Energy’s long-term vision of becoming a leader in sustainable uranium production.

By capitalizing on increased demand for uranium and supportive government policies, Ur-Energy is positioned to capture market share, offering growth potential for shareholders as it solidifies its role as a reliable, low-cost uranium supplier.

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Ur-Energy Inc. is financially well-positioned to support its growth and development initiatives, with a strong cash balance of approximately $121.3 million as of August 2024. This solid cash position provides a substantial “runway” for the company to continue ramping up production at its Lost Creek facility while advancing construction at Shirley Basin. The company benefits from a capital-efficient structure, with existing infrastructure and a low operating cost profile that enables cost-effective scaling of operations.

The company’s strategic off-take agreements, totaling around 5.72 million pounds of U3O8, further contribute to financial stability, providing predictable revenue streams as uranium prices continue to strengthen. Ur-Energy’s focus on operational efficiency, coupled with its disciplined financial management, enables the company to maintain competitive all-in costs, making it resilient to market fluctuations. As it advances the Shirley Basin project and capitalizes on favorable market conditions, Ur-Energy is positioned to generate sustainable cash flow, supporting shareholder value creation in the long term.

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Ur-Energy Inc. stands as a leading U.S. uranium producer with a strong foundation in low-cost, environmentally responsible mining practices. With its flagship Lost Creek facility in commercial production and the upcoming Shirley Basin project on track, Ur-Energy is well-positioned to supply the increasing demand for uranium as the world shifts toward carbon-free energy solutions. Supported by a solid cash position, strategic off-take agreements, and a skilled management team, Ur-Energy is primed to capture market share while delivering consistent value to shareholders.

The company’s commitment to sustainable ISR technology, combined with its focus on operational efficiency and regulatory compliance, sets it apart as a responsible mining operator. As Ur-Energy continues to grow its production capacity and capitalize on favorable market conditions, it offers investors a unique opportunity to participate in the resurgence of the nuclear energy sector. With a disciplined approach to development and a clear vision for the future, Ur-Energy is positioned to drive long-term growth and contribute to the global clean energy transition.

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