MARKET COMPOSITE
Market TodayThemes and Stocks SummaryThematic Stock SearchCrypto SummaryFAQAbout
Home/
URG - Ur-Energy Inc.
$0.92
0.01(1.01%)8:00:00 PM 5/26/2023
Ur-Energy Inc. engages in the acquisition, exploration, development, and operation of uranium mineral properties. The company holds interests in 12 projects located in the United States. Its flagship property is the Lost Creek project comprising a total of approximately 1,900 unpatented mining claims and three Wyoming mineral leases covering an area of approximately 37,500 acres located in the Great Divide Basin, Wyoming. The company was founded in 2004 and is headquartered in Littleton, Colorado.

Highlights of Management Discussion and Risk Factors in 10-K/10-Q filling

Positive
1.
Supply-demand fundamentals also continue to strengthen with the supply gap widening as secondary inventories decline while projections are for sustained growth of nuclear power through traditional uses and the construction of advanced reactors of various types.
2.
It has also become apparent that Western utilities are committed to reducing their reliance on Russian nuclear fuel supply over the long term which has very positive implications for the U.S. uranium production industry.  
3.
Building, wiring and automating header houses in Casper will provide numerous safety, environmental and financial advantages to our operations.
4.
Positive developments in the uranium markets continued to occur in 2022 and we were able to put in place new, multi-year, sales contracts.
5.
Increasing demand in 2022 was evidenced by increased contracting activity and higher uranium pricing, with average spot and long-term prices increasing 13% and 22%, respectively.
6.
60Table of Contents Increasing demand for domestic uranium and higher pricing enabled us to obtain two new off-take sales contracts in 2022 with deliveries beginning in 2023.
7.
We anticipate that the new facility will remove several of those vehicles from the routine daily commuter list with increased development and production operations at Lost Creek, and that the facility will similarly benefit the Shirley Basin Project when it is constructed and operating.
8.
Together with our optimization of plant processes, these wellfield programs have significantly facilitated our 2023 return to production.  
9.
The Company anticipates returning to positive gross profits from uranium sales in 2023.
10.
The reduced operations have allowed us to sustain operating cost reductions at Lost Creek, while conducting preventative maintenance and optimizing processes in preparation for ramp up to full production rates.
11.
The immediate consequence has been a shift from underfeeding to overfeeding by enrichers that has resulted in an approximate 20-24 million pound annual increase in spot U3O8 demand.
12.
Each of these activities will increase the demand for uranium over time. 
13.
Notwithstanding, because we implemented an advanced development program in late 2021 to enhance our ability to quickly return to production when our ramp-up decision occurred, we remain on track for return to timely production levels of approximately 600,000 pounds U3O8 annually. 
14.
Field tests demonstrated a reduction in drill rig time on injection wells of approximately 75% compared with conventional methods, which also reduces environmental impacts.
15.
An added benefit will be the recycling of the majority of bleed and process water which would have historically been disposed of as waste.
16.
During 2022, we were able to put in place new, multi-year, sales contracts and expect to realize revenues of $17.3 million from the sale of 280,000 pounds of uranium in 2023.
17.
Industry and Market Update  The increased support for nuclear energy experienced over the past several years has been sustained as more governments understand it is a critical energy source to successfully address climate change.
18.
We continue to see signs of increased bipartisan support for nuclear energy in Washington, including the passage of the Infrastructure Investment and Jobs Act (November 2021) which is designed to prevent the premature closure of nuclear power plants and extend the life of others.
19.
The Lost Creek facility now has the constructed and licensed capacity to process up to 2.2 million pounds of U3O8 per year and sufficient mineral resources to feed the processing plant for many years to come. 
20.
Beyond water recycling gains already achieved with our industry-leading Class V circuit, the new system may allow an additional 90% reduction of disposed water.
Negative
1.
Kazakhstan is also experiencing difficulties moving uranium through Russia and the port at St. Petersburg and has started testing the Trans-Caspian International Route as an alternative.
2.
Work continues today, although unusually harsh winter conditions have hindered our efforts.
3.
Looking Ahead Greater acceptance of nuclear energy’s role in clean energy policies, renewed investor interest, increasing concerns over the possibility of supply shortages and disruptions, and a multitude of other factors have all contributed to resurging demand for secure domestically produced uranium.
4.
Logistics of shipping uranium from both Kazakhstan and Russia have been challenged by a lack of ocean carriers and insurance.
5.
In addition to the adverse economic and other effects felt beyond the borders of Ukraine, the war may result in impacts felt more directly by the nuclear fuel industries and uranium producers specifically.
6.
The Wyoming winter of 2022-2023 has been particularly harsh, impeding certain of our planned construction activities at Lost Creek.
7.
Transportation issues have created uncertainty that Western utilities are said to becoming increasingly uncomfortable with and is leading many to seek security and certainty through diversity in their supply contracts.
8.
  50Table of Contents 2022 Developments Status of Lost Creek Operations Due to persistent low uranium prices, we continued to limit our production operations during 2022, capturing 325 pounds of U3O8 at our Lost Creek plant.
9.
Liquidity risk  Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they come due.
10.
As a result, production rates at Lost Creek remained low during the past two years and no pounds were drummed in 2022 or 2021. 
11.
The imposition of sanctions on Russia by the U.S. and other countries has resulted in counter measures by Russia and may result in additional counter sanctions including the possible termination of exports of enriched uranium from Russia to the U.S. Most importantly, the ongoing conflict has drawn attention to the West’s dependence on Russian conversion and enrichment.
12.
The short- and long-term worldwide implications of the Russian invasion of Ukraine remain difficult to predict as the war continues.
13.
Delays in shipment from Russia are being experienced in early 2023.
The management discussion contents above are extracted from this specific SEC Edgar 10-K filling, with report date as 2022-12-31 and filed on 2023-03-06. The process is fully automated and without human validation. Although we make every effort getting the relevant information, please be advised that We make no representation or warranties of any kind about completeness, accuracy, reliability, suitability or availability of the information exacted from Edgar 10-K/10-Q filings.
Stock Chart

Short Volume Ratio = Short Volume / All Volume. Source of Short Volume data comes from 

Finra

Moving Average Convergence/Divergence oscillator (MACD) is one of the simplest and most effective momentum indicators available.

Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. According to Wilder, RSI is considered overbought when above 70 and oversold when below 30.

Related Peers

DNN-0.90%
LEU-0.30%
UEC-2.70%
leak data

Stock news

    05/5/2023URG
    Battery & Precious Metals Virtual Investor Conference: Presentations Now Available for Online Viewing

    Company Executives Share Vision and Answer Questions at VirtualInvestorConferences.comNEW YORK, May 05, 2023 (GLOBE NEWSWIRE) -- Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from Battery & Precious Metals Virtual Investor Conference held May 2nd-4th are now available for online viewing. REGISTER NOW AT: https://bit.ly/3B1N9Fj The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may d

    05/3/2023URG
    Ur-Energy (TSE:URE) shareholders have earned a 15% CAGR over the last three years

    Some Ur-Energy Inc. ( TSE:URE ) shareholders are probably rather concerned to see the share price fall 33% over the...

    05/1/2023URG
    Ur-Energy Releases 2023 Q1 Results

    Ur-Energy Inc.(NYSE American:URG)(TSX:URE) (the "Company" or "Ur-Energy") has filed the Company's Form 10-Q for the quarter ended March 31, 2023, with the U.S.

    04/28/2023URG
    Battery and Precious Metals Investor Conference Agenda Announced for May 2nd – 4th

    Company Executives Share Vision and Answer Questions Live at VirtualInvestorConferences.comNEW YORK, April 28, 2023 (GLOBE NEWSWIRE) -- Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the Battery and Precious Metals Virtual Investor Conference. Individual investors, institutional investors, advisors, and analysts are invited to attend. REGISTER NOW AT: https://bit.ly/3oITe6S It is recommended that investors pre-register and run the

    04/18/2023URG
    Presenting on the Emerging Growth Conference on April 19 Register Now

    MIAMI, April 18, 2023 (GLOBE NEWSWIRE) -- EmergingGrowth.com a leading independent small cap media portal announces the schedule of the 54th Emerging Growth Conference on April 19, 2023. The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth. Register for the conference here. Submit Questions for any of the presenting companies

    04/12/2023URG
    Ur-Energy Provides Q1 Update on Operations and Activities Supporting Ramp Up at Lost Creek

    Ur-Energy Inc. (NYSE American:URG)(TSX:URE) ("Ur-Energy" or the "Company") is pleased to provide an update on Q1 operations and activities related to ramp up at its Lost Creek In-Situ Recovery Project ("Lost Creek") and ongoing construction at its Casper, Wyoming Operations Headquarters.

    04/11/2023URG
    Ur-Energy to Present April 19 at the Emerging Growth Conference

    Ur-Energy Inc.(NYSE American:URG)(TSX:URE) (the "Company" or "Ur-Energy") is pleased to announce that its Chairman and CEO, John Cash, will present at the Emerging Growth Virtual Conference on Wednesday, April 19, 2023.

    04/10/2023URG
    Ur-Energy 'stands ready' to meet demand for uranium

    Ur-Energy Inc. (TSX:URE, NYSE:URG) CEO John Cash speaks to Proactive about the uranium mining company's return to production at its site in south-central Wyoming, USA, following a break of several ...

    03/6/2023URG
    Ur-Energy Releases 2022 Year End Results

    Ur-Energy Inc. (NYSE American:URG)(TSX:URE) ("Ur-Energy" or the "Company") has filed the Company's Annual Report on Form 10-K, Consolidated Financial Statements, and Management's Discussion & Analysis, all for the year ended December 31, 2022, with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.shtml and with Canadian securities authorities on SEDAR at www.sedar.com.

    02/21/2023URG
    Ur-Energy Inc. Announces Closing of $46.1 Million Public Equity Offering, Including Full Exercise of the Underwriters' Option to Purchase Additional Shares and/or Warrants

    Ur-Energy Inc. (NYSE American:URG) (TSX:URE) ("Ur-Energy") announced today the closing of its previously announced underwritten public offering of 39,100,000 common shares and accompanying warrantsto purchase up to 19,550,000 common shares, which includes the full exercise of the underwriters' option to purchase up to 5,100,000 additional common shares and accompanying warrants to purchase up to 2,550,000 common shares, at a combined public offering

scroll to load more