In this InvestorIntel interview during PDAC 2023, Chris Thompson talks to Ur-Energy Inc.‘s (NYSE American: URG | TSX: URE) CEO, Chairman, and President John Cash about Ur-Energy’s uranium sales agreements with U.S. nuclear utilities and Department of Energy’s National Uranium Reserve. With 280,000 pounds of uranium to be sold in 2023 which goes up to 600,000 pounds annually from 2024 – 2028, John discusses how Ur-Energy has locked in reliable long-term revenue for the company.
UR Energy has been producing uranium since 2013 and John provides an update on ramping up production at its Lost Creek in-situ recovery uranium facility in Wyoming. The company recently raised more than $40 million in cash to use as a buffer during ramp-up and also to position itself for potential M&A opportunities.
John explains how their mining technology is low cost and with light environmental footprint. In-situ uranium mining involves installing water wells and injecting chemicals like CO2, baking soda, and oxygen to dissolve uranium underground, and then pumping it up through a production well into a processing plant.
John goes on to provide an update on getting its Shirley Basin project into a state where it’s ready for production and Ur-Energy’s R&D projects on injection well casing and advanced water treatment systems.
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About Ur-Energy Inc.
Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. The Company has produced, packaged, and shipped approximately 2.6 million pounds of U3O8 from Lost Creek since the commencement of operations. Ur-Energy has all major permits and authorizations to begin construction at Shirley Basin, the Company’s second in situ recovery uranium facility in Wyoming, and is in the process of obtaining remaining amendments to Lost Creek authorizations for expansion of Lost Creek. Ur‑Energy is engaged in uranium recovery and processing activities, including the acquisition, exploration, development, and operation of uranium mineral properties in the United States.
To know more about Ur-Energy Inc., click here.
Disclaimer: Ur-Energy Inc. is an advertorial member of InvestorIntel Corp.
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