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Wednesday
Nov082017

Ur-Energy to Present November 16 at Southwest IDEAS Conference

Ur-Energy to Present November 16 at the Southwest IDEAS Investor Conference in Dallas

Littleton, Colorado (PR Newswire – November 8, 2017) Ur-Energy Inc. (NYSE American:URG, TSX:URE) announces that Jeffrey Klenda, Chairman and CEO, will present at the Southwest IDEAS Investor Conference taking place November 15-16, 2017 in Dallas, Texas.

Mr. Klenda will provide an overview of the Company’s business during the presentation and will be available to participate in one-on-one meetings with investors who are registered to attend the Conference.

Ur-Energy’s presentation will begin at 10:40 a.m. on Thursday, November 16, 2017. The presentation will be at the Westin Dallas Downtown, in Dallas, Texas. 

Unlike traditional bank-sponsored events, IDEAS Investor Conferences are “Sponsored BY the Buyside FOR the Buyside” and for the benefit of regional investment communities. Conference sponsors collectively have more than $200 billion in assets under management. The IDEAS Investor Conferences are held annually in Boston, Chicago and Dallas and are produced by Three Part Advisors, LLC. Additional information about the events can be located at www.IDEASconferences.com. If you are interested in attending or learning more about IDEAS Conferences, please contact Joe Noyons at 817-778-8424, or at jnoyons@threepa.com

 

About Ur-Energy

Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged and shipped more than two million pounds from Lost Creek since the commencement of operations. Applications are under review by various agencies to incorporate our LC East project area into the Lost Creek permits, and we have begun to submit applications for permits and licenses to construct and operate at our Shirley Basin Project. Ur-Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. Shares of Ur-Energy trade on NYSE American under the symbol “URG” and on the Toronto Stock Exchange under the symbol “URE.” Ur-Energy’s corporate office is in Littleton, Colorado; its registered office is in Ottawa, Ontario. Ur-Energy’s website is www.ur-energy.com.

 

FOR FURTHER INFORMATION, PLEASE CONTACT

 

Jeffrey Klenda, Chairman & CEO

 

866-981-4588

 

Jeff.Klenda@ur-energy.com

Wednesday
Nov082017

Ur‐Energy Releases 2017 Q3 Results

 

Ur-Energy Releases 2017 Q3 Results 

Littleton, Colorado (PR Newswire – October 27, 2017) Ur-Energy Inc. (NYSE American:URG, TSX:URE)  (“Ur-Energy” or the “Company”) has filed the Company’s Form 10-Q for the quarter ended September 30, 2017, with the U.S. Securities and Exchange Commission at www.sec.gov/edgar.shtml and with Canadian securities authorities on SEDAR at www.sedar.com

Ur-Energy Chairman Jeff Klenda said, “During a quarter when uranium spot prices continued to face downward pressure, we were pleased to realize a $40 per pound average sales price and generate $3.9 million in cash from operating activities, including the sale 180,000 pounds of produced product for $7.8 million in cash late in the quarter.”

Lost Creek Production and Sales

During the three months ended September 30, 2017, a total of 52,812 pounds of U3O8 were captured within the Lost Creek plant. 48,336 pounds were packaged in drums and 36,797 pounds of the drummed inventory were shipped to the conversion facility. We sold 289,000 pounds of U3O8 during the period of which 109,000 pounds were purchased. Inventory, production and sales figures for the Lost Creek Project are presented in the following tables. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Production and Production Costs

    

Unit

    

2017 Q3

    

2017 Q2

    

2017 Q1

    

2016 Q4

    

2017 YTD

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pounds captured

 

lb

 

 

 52,812

 

 

 65,257

 

 

 79,340

 

 

 103,558

 

 

 197,409

 

Ad valorem and severance tax

 

$000

 

$

 119

 

$

 227

 

$

 241

 

$

 247

 

$

 587

 

Wellfield cash cost (1)

 

$000

 

$

 743

 

$

 599

 

$

 889

 

$

 864

 

$

 2,231

 

Wellfield non-cash cost (2)

 

$000

 

$

 730

 

$

 780

 

$

 776

 

$

 777

 

$

 2,286

 

Ad valorem and severance tax per pound captured

 

$/lb

 

$

 2.25

 

$

 3.48

 

$

 3.04

 

$

 2.39

 

$

 2.97

 

Cash cost per pound captured

 

$/lb

 

$

 14.07

 

$

 9.18

 

$

 11.20

 

$

 8.34

 

$

 11.31

 

Non-cash cost per pound captured

 

$/lb

 

$

 13.82

 

$

 11.95

 

$

 9.78

 

$

 7.50

 

$

 11.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pounds drummed

 

lb

 

 

 48,336

 

 

 70,833

 

 

 74,382

 

 

 111,049

 

 

 193,551

 

Plant cash cost (3)

 

$000

 

$

 1,120

 

$

 1,270

 

$

 1,488

 

$

 1,336

 

$

 3,878

 

Plant non-cash cost (2)

 

$000

 

$

 493

 

$

 491

 

$

 491

 

$

 493

 

$

 1,475

 

Cash cost per pound drummed

 

$/lb

 

$

 23.17

 

$

 17.93

 

$

 20.00

 

$

 12.03

 

$

 20.04

 

Non-cash cost per pound drummed

 

$/lb

 

$

 10.20

 

$

 6.93

 

$

 6.61

 

$

 4.44

 

$

 7.63

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pounds shipped to conversion facility

 

lb

 

 

 36,797

 

 

 74,406

 

 

 72,643

 

 

 98,775

 

 

 183,846

 

Distribution cash cost (4)

 

$000

 

$

 24

 

$

 26

 

$

 47

 

$

 68

 

$

 97

 

Cash cost per pound shipped

 

$/lb

 

$

 0.65

 

$

 0.35

 

$

 0.65

 

$

 0.69

 

$

 0.53

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pounds purchased

 

lb

 

 

 109,000

 

 

 210,000

 

 

 200,000

 

 

 -

 

 

 519,000

 

Purchase costs

 

$000

 

$

 2,196

 

$

 4,870

 

$

 4,015

 

$

 -

 

$

 11,081

 

Cash cost per pound purchased

 

$/lb

 

$

 20.15

 

$

 23.19

 

$

 20.08

 

$

 -

 

$

 21.35

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes:

Wellfield cash costs include all wellfield operating costs. Wellfield construction and development costs, which include wellfield drilling, header houses, pipelines, power lines, roads, fences and disposal wells, are treated as development expense and are not included in wellfield operating costs.

2   Non-cash costs include the amortization of the investment in the mineral property acquisition costs and the depreciation of plant equipment, and the depreciation of their related asset retirement obligation costs. The expenses are calculated on a straight line basis so the expenses are typically constant for each quarter. The cost per pound from these costs will therefore typically vary based on production levels only.

3    Plant cash costs include all plant operating costs and site overhead costs.

4   Distribution cash costs include all shipping costs and costs charged by the conversion facility for weighing, sampling, assaying and storing the U3O8 prior to sale.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales and cost of sales

    

Unit

    

2017 Q3

    

2017 Q2

    

2017 Q1

    

2016 Q4

    

2017 YTD

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pounds sold

 

lb

 

 

 289,000

 

 

 241,000

 

 

 250,000

 

 

 100,000

 

 

 780,000

 

U3O8 sales

 

$000

 

$

 11,674

 

$

 11,797

 

$

 14,819

 

$

 3,270

 

$

 38,290

 

Average contract price

 

$/lb

 

$

 40.39

 

$

 48.95

 

$

 59.28

 

$

 32.70

 

$

 49.09

 

Average price per pound sold

 

$/lb

 

$

 40.39

 

$

 48.95

 

$

 59.28

 

$

 32.70

 

$

 49.09

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U3O8 cost of sales (1)

 

$000

 

$

 11,157

 

$

 6,573

 

$

 6,295

 

$

 3,082

 

$

 24,025

 

Ad valorem and severance tax cost per pound sold

 

$/lb

 

$

 3.15

 

$

 4.26

 

$

 4.00

 

$

 2.98

 

$

 3.44

 

Cash cost per pound sold

 

$/lb

 

$

 29.11

 

$

 31.54

 

$

 26.12

 

$

 18.27

 

$

 28.82

 

Non-cash cost per pound sold

 

$/lb

 

$

 17.52

 

$

 19.13

 

$

 15.48

 

$

 9.57

 

$

 17.33

 

Cost per pound sold - produced

 

$/lb

 

$

 49.78

 

$

 54.93

 

$

 45.60

 

$

 30.82

 

 

 49.59

 

Cost per pound sold - purchased

 

$/lb

 

$

 20.15

 

$

 23.19

 

$

 20.08

 

$

 -

 

 

 21.35

 

Average cost per pound sold

 

$/lb

 

$

 38.61

 

$

 27.26

 

$

 25.18

 

$

 30.82

 

$

 30.80

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U3O8 gross profit

 

$000

 

$

 517

 

$

 5,224

 

$

 8,524

 

$

 188

 

 

 14,265

 

Gross profit per pound sold

 

$/lb

 

$

 1.78

 

$

 21.68

 

$

 34.10

 

$

 1.88

 

 

 18.29

 

Gross profit margin

 

%

 

 

4.4%

 

 

44.3%

 

 

57.5%

 

 

5.7%

 

 

37.3%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending Inventory Balances

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pounds

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In-process inventory

 

lb

 

 

 22,306

 

 

 19,010

 

 

 28,164

 

 

 29,891

 

 

 

 

Plant inventory

 

lb

 

 

 21,948

 

 

 10,446

 

 

 14,019

 

 

 12,274

 

 

 

 

Conversion facility inventory

 

lb

 

 

 17,813

 

 

 160,094

 

 

 113,528

 

 

 84,689

 

 

 

 

Total inventory

 

lb

 

 

 62,067

 

 

 189,550

 

 

 155,711

 

 

 126,854

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In-process inventory

 

$000

 

$

 221

 

$

 352

 

$

 712

 

$

 897

 

 

 

 

Plant inventory

 

$000

 

$

 824

 

$

 479

 

$

 670

 

$

 461

 

 

 

 

Conversion facility inventory

 

$000

 

$

 675

 

$

 6,620

 

$

 4,379

 

$

 2,751

 

 

 

 

Total inventory

 

$000

 

$

 1,720

 

$

 7,451

 

$

 5,761

 

$

 4,109

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost per pound

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In-process inventory

 

$/lb

 

$

 9.92

 

$

 18.46

 

$

 25.28

 

$

 30.01

 

 

 

 

Plant inventory

 

$/lb

 

$

 37.53

 

$

 45.85

 

$

 47.79

 

$

 37.56

 

 

 

 

Conversion facility inventory

 

$/lb

 

$

 37.89

 

$

 41.35

 

$

 38.57

 

$

 32.48

 

 

 

 

 

 Notes:

Cost of sales include all production costs (notes 1, 2, 3 and 4 in the previous Production and Production Cost table) adjusted for changes in inventory values.

 

U3O8 sales of $11.7 million for 2017 Q3 were based on selling 289,000 pounds at an average price of $40.39.  We did not make any spot sales during the quarter. Of the 289,000 pounds sold, 180,000 were from produced inventory and 109,000 were from purchased U3O8. For the quarter, our cost of sales totaled $11.1 million at an average cost of $38.61 per pound.

On a cash basis, the average cost per pound sold was $27.69, which yielded average cash margins of $12.70 per pound and generated cash gross profits of $3.7 million during the quarter.  The average cash cost per pound sold was composed of produced and purchased pounds.  The cash cost per produced pound sold was $32.26, including ad valorem and severance taxes, and the cash cost per purchased pound sold was $20.15.

Due to our low production volumes, we have been experiencing lower of cost or net realizable value adjustments, which totaled $1.3 million for the quarter.  These costs are included in our cost of sales for the period and reduced the reported gross profit for the period. Total gross profit was $0.5 million, or approximately 4%.

At the end of the quarter, we had approximately 17,813 pounds of U3O8 at the conversion facility at an average cost per pound of $37.89, which reflects the net realizable value of the product at that location.  We intend to sell this product into our lowest priced, 2018 term contract in January.  While this assumption did increase the non-cash, net realizable value adjustment for the quarter, it will also lower the actual cash paid out for 2018 severance and ad valorem taxes, which are based on the sales value of the product.

 

Total Cost Per Pound Sold

Reconciliation 1

    

Unit

 

2017 Q3

    

2017 Q2

    

2017 Q1

    

2016 Q4

    

2017 YTD

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ad valorem & severance taxes

 

$000

 

$

 119

 

$

 227

 

$

 241

 

$

 247

 

$

 587

Wellfield costs

 

$000

 

$

 1,473

 

$

 1,379

 

$

 1,665

 

$

 1,641

 

$

 4,517

Plant and site costs

 

$000

 

$

 1,614

 

$

 1,761

 

$

 1,979

 

$

 1,829

 

$

 5,354

Distribution costs

 

$000

 

$

 24

 

$

 26

 

$

 47

 

$

 68

 

 

 97

Inventory change

 

$000

 

$

 5,731

 

$

 (1,690)

 

$

 (1,652)

 

$

 (703)

 

$

 2,389

Cost of sales - produced

 

$000

 

$

 8,961

 

$

 1,703

 

$

 2,280

 

$

 3,082

 

$

 12,944

Cost of sales - purchased

 

$000

 

$

 2,196

 

$

 4,870

 

$

 4,015

 

$

 —

 

 

 11,081

Total cost of sales

 

$000

 

$

 11,157

 

$

 6,573

 

$

 6,295

 

$

 3,082

 

 

 24,025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pounds sold produced

 

lb

 

 

 180,000

 

 

 31,000

 

 

 50,000

 

 

 100,000

 

 

 261,000

Pounds sold purchased

 

lb

 

 

 109,000

 

 

 210,000

 

 

 200,000

 

 

 —

 

 

 519,000

Total pounds sold

 

lb

 

 

 289,000

 

 

 241,000

 

 

 250,000

 

 

 100,000

 

 

 780,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average cost per pound sold - produced (1)

 

$/lb

 

$

 49.78

 

$

 54.93

 

$

 45.60

 

$

 30.82

 

$

 49.59

Average cost per pound sold - purchased

 

$/lb

 

$

 20.15

 

$

 23.19

 

$

 20.08

 

$

 -

 

$

 21.35

Total average cost per pound sold

 

$/lb

 

$

 38.61

 

$

 27.27

 

$

 25.18

 

$

 30.82

 

$

 30.80

 

1    The cost per pound sold reflects both cash and non-cash costs, which are combined as cost of sales in the statement of operations included in this filing.  The cash and non-cash cost components are identified in the above inventory, production and sales table.

The cost of sales includes ad valorem and severance taxes related to the extraction of uranium, all costs of wellfield, plant and site operations including the related depreciation and amortization of capitalized assets, reclamation and mineral property costs, plus product distribution costs. These costs are also used to value inventory and the resulting inventoried cost per pound is compared to the estimated sales prices based on the contracts or spot sales anticipated for the distribution of the product. Any costs in excess of the calculated market value are charged to cost of sales.

Continuing Guidance

At the end of the third quarter of 2017, the average spot price of U3O8, as reported by Ux Consulting Company, LLC and TradeTech, LLC, was approximately $20.33 per pound. Market fundamentals have not changed sufficiently to warrant the accelerated development of MU2. We are developing MU2 at a controlled rate as approved by our Board of Directors in the first quarter, which will allow us to produce at a level that will satisfy a portion of our term contracts.

Through September 30, 2017, we sold 780,000 pounds of U3O8 under contract at an average price of approximately $49 per pound.  We purchased 519,000 pounds at an average cost of $21 per pound. The remaining 261,000 pounds were delivered from our produced inventory. We do not anticipate any further sales this year.

We expect to bring the second MU2 header house on line in 2017 Q4, and the 2017 Q4 production target for Lost Creek is between 65,000 and 75,000 pounds U3O8 dried and drummed. Full year 2017 production guidance is unchanged at between 250,000 and 300,000 pounds, but our production rate may be adjusted based on operational matters and other indicators in the market.

As at October 25, 2017, our unrestricted cash position was $9.1 million.

About Ur-Energy

 

Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged and shipped more than two million pounds from Lost Creek since the commencement of operations. Applications are under review by various agencies to incorporate our LC East project area into the Lost Creek permits, and we have begun to submit applications for permits and licenses to construct and operate at our Shirley Basin Project. Ur-Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. Shares of Ur-Energy trade on NYSE American under the symbol “URG” and on the Toronto Stock Exchange under the symbol “URE.” Ur-Energy’s corporate office is in Littleton, Colorado; its registered office is in Ottawa, Ontario. Ur-Energy’s website is www.ur-energy.com.

 

FOR FURTHER INFORMATION, PLEASE CONTACT

Jeffrey Klenda, Chair and CEO

 

866-981-4588

 

Jeff.Klenda@ur-energy.com

 

Cautionary Note 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., results of Lost Creek production, including meeting production projections; ability to maintain production levels and development at Lost Creek; ability to deliver into existing contractual obligations through a balance of production and purchased pounds) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any 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 which 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 and other factors described in the public filings made by the Company at www.sedar.com and www.sec.gov. 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 in management’s beliefs, expectations or opinions that occur in the future.

Friday
Oct132017

Ur-Energy Provides 2017 Q3 Operational Results

Ur-Energy Provides 2017 Q3 Operational Results

Littleton, Colorado (PR Newswire – October 13, 2017) Ur-Energy Inc. (NYSE American:URG, TSX:URE) (the “Company” or “Ur-Energy”) is pleased to provide the following operational results for third quarter 2017.

 Highlights

Lost Creek Operations

 

Units

2017 Q1

 

2017 Q2

 

2017 Q3

 

2017 YTD

 

 

 

 

 

 

 

 

 

U3O8 Captured

(‘000 lbs)

79.3

 

65.3

 

52.8

 

197.4

U3O8 Dried & Drummed

(‘000 lbs)

74.4

 

70.8

 

48.4

 

193.6

U3O8 Sold (produced)

(‘000 lbs)

50.0

 

31.0

 

180.0

 

261.0

U3O8 Sold (purchased)

(‘000 lbs)

200.0

 

210.0

 

109.0

 

519.0

 

 

 

 

 

 

 

 

 

Average Flow Rate

(gpm)

   2,403

 

       2,378

 

2,188

 

2,322

U3O8 Head Grade

(mg/l)

        32

 

            27

 

23

 

27

 

 Lost Creek Uranium Production and Sales

For the quarter, 52,812 pounds of U3O8 were captured within the Lost Creek plant. 48,336 pounds of U3O8 were packaged in drums and 36,797 pounds of U3O8 drummed inventory were shipped out of the Lost Creek processing plant. At September 30, 2017, inventory at the conversion facility was approximately 17,813 pounds U3O8

During the quarter, sales totaled $11.7 million. There were no spot sales during the quarter. A total of 289,000 pounds was sold at an average sales price of $40 per pound, which was 100% above the average spot price for the same period of $20 per pound. Of this, 109,000 pounds were sold at an average price of $35 per pound for cash proceeds of $3.9 million. We purchased the pounds at a cost of $20 per pound. The remaining 180,000 pounds were sold from Lost Creek production at a price of $43 per pound, for cash proceeds of $7.8 million.

Lost Creek Anniversary and Development of Second Mine Unit

Lost Creek celebrated its fourth anniversary in operation in early August, having produced and delivered to customers more than 2,000,000 pounds at the time of that milestone, all from the first mine unit of the project.

Our drilling and other construction work to develop the first three header houses in Mine Unit 2 commenced in early April. This development work continued through the summer, largely on schedule, allowing us to bring the first header house online in late August. We currently anticipate that operation of the second header house will commence during Q4 and the third header house will come online early in 2018.

Continuing Guidance for 2017

We do not currently anticipate any sales in Q4, as we have completed our contractual deliveries for the year. Our sales have totaled $38.3 million this year. The Q4 production target for Lost Creek is between 65,000 and 75,000 pounds dried and drummed. Our production rate may be adjusted based on operational matters and other indicators in the market.

We will provide further guidance for the remainder of 2017 in our Form 10-Q, which is currently anticipated to be filed on Friday, October 27, 2017.

About Ur-Energy

Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged and shipped more than two million pounds from Lost Creek since the commencement of operations. Applications are under review by various agencies to incorporate our LC East project area into the Lost Creek permits, and we have begun to submit applications for permits and licenses to operate at our Shirley Basin Project. Ur-Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. Shares of Ur‑Energy trade on the NYSE American under the symbol “URG” and on the Toronto Stock Exchange under the symbol “URE.” Ur-Energy’s corporate office is in Littleton, Colorado; its registered office is in Ottawa, Ontario. Ur-Energy’s website is www.ur-energy.com.

 

FOR FURTHER INFORMATION, PLEASE CONTACT

 

Jeffrey Klenda, Chair and CEO

 

866-981-4588

 

Jeff.Klenda@ur-energy.com

 

 

Cautionary Note 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., continuing results of Lost Creek operations; timing to bring the additional header houses online; the ability to meet production targets for fourth quarter; and whether adjustments of production rates will be necessary or appropriate) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, fluctuations in commodity prices; capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of uranium which 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; delays in development and other factors described in the public filings made by the Company at www.sedar.com and www.sec.gov. 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 in management’s beliefs, expectations or opinions that occur in the future.

Thursday
Sep072017

Ur-Energy Announces Appointment of New Board Member: Kathy E. Walker

Ur-Energy Announces Appointment of New Board Member:  Kathy E. Walker

Littleton, Colorado (PR Newswire – September 7, 2017) Ur-Energy Inc. (NYSE American:URG, TSX:URE) (the “Company” or “Ur-Energy”) is pleased to announce the appointment of Kathy E. Walker to its Board of Directors (the “Board”).  The appointment is effective September 7, 2017, and expands the size of the Board to seven.

Ms.  Walker is the president and chief executive officer of Elm Street Resources Inc., an energy marketing company based in Paintsville, Kentucky. She brings more than 30 years’ experience in various energy-related business endeavors to our Board. 

“We are very pleased to welcome Kathy Walker to the Board,” Ur-Energy Chairman and CEO Jeffrey Klenda said. “Ms. Walker’s strong business and market acumen, together with her years of experience with wide-ranging political and regulatory processes, will greatly benefit the Company and our shareholders.”

Ms. Walker holds an MBA from Xavier University. Prior to starting Elm Street Resources, she served as Secretary and Controller of Agip Coal, USA, a subsidiary of the Italian National Energy Agency ENI. She is currently a member of the National Coal Council and Board member of the Kentucky Coal Association; a member of the Kentucky Judicial Campaign Conduct Committee; and a member of the Morehead State University Board of Regents. Previously, Ms. Walker served as the Chair of the Energy and Environment transition team for Kentucky Governor Matt Bevin; was a founder and Board member of First Security Bank, Lexington, Kentucky and of Great Nations Bank, Norman, Oklahoma.

About Ur-Energy

Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged and shipped more than two million pounds from Lost Creek since the commencement of operations. Applications are under review by various agencies to incorporate our LC East project area into the Lost Creek permits, and we have begun to submit applications for permits and licenses to construct and operate at our Shirley Basin Project. Ur-Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. Shares of Ur-Energy trade on NYSE American under the symbol “URG” and on the Toronto Stock Exchange under the symbol “URE.” Ur-Energy’s corporate office is in Littleton, Colorado; its registered office is in Ottawa, Ontario. Ur-Energy’s website is www.ur-energy.com.

FOR FURTHER INFORMATION, PLEASE CONTACT

 

Jeffrey Klenda, Chairman & CEO

 

866-981-4588

 

 

Jeff.Klenda@ur-energy.com

 

 

Cautionary Note 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., the skills and experience Ms. Walker may bring to the Board, as well as the benefits expected from adding her to the Board) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any 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 which 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 and other factors described in the public filings made by the Company at www.sedar.com and www.sec.gov. 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 in management’s beliefs, expectations or opinions that occur in the future.

Thursday
Aug242017

Ur-Energy to Present August 31 at the Midwest IDEAS Investor Conference

Ur-Energy to Present August 31 at the Midwest IDEAS Investor Conference

Littleton, Colorado (PR Newswire – August 24, 2017) Ur-Energy Inc. (NYSE American:URG, TSX:URE) announces that Jeffrey Klenda, Chairman and CEO, will present at the Midwest IDEAS Investor Conference taking place August 30 -31, 2017 in Chicago.

Mr. Klenda will provide an overview of the Company’s business during the presentation and will be available to participate in one-on-one meetings with investors who are registered to attend the Conference.

Ur-Energy’s presentation will begin at 10:00 a.m. on Thursday, August 31, 2017. The presentation will be at the Hard Rock Hotel, Chicago (Presenting Room 2). 

Unlike traditional bank-sponsored events, IDEAS Investor Conferences are “Sponsored BY the Buyside FOR the Buyside” and for the benefit of regional investment communities. Conference sponsors collectively have more than $200 billion in assets under management. The IDEAS Investor Conferences are held annually in Boston, Chicago and Dallas and are produced by Three Part Advisors, LLC. Additional information about the events can be located at www.IDEASconferences.com.

About Ur-Energy

Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged and shipped more than two million pounds from Lost Creek since the commencement of operations. Applications are under review by various agencies to incorporate our LC East project area into the Lost Creek permits, and we have begun to submit applications for permits and licenses to construct and operate at our Shirley Basin Project. Ur-Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. Shares of Ur-Energy trade on NYSE American under the symbol “URG” and on the Toronto Stock Exchange under the symbol “URE.” Ur-Energy’s corporate office is in Littleton, Colorado; its registered office is in Ottawa, Ontario. Ur-Energy’s website is www.ur-energy.com.

FOR FURTHER INFORMATION, PLEASE CONTACT

 

Jeffrey Klenda, Chairman & CEO

 

866-981-4588

 

 

Jeff.Klenda@ur-energy.com