Ur-Energy Announces Year-End Results and New Uranium Sales Agreements for 2023

Ur-Energy Inc., a prominent North American uranium producer based in Littleton, CO, has publicly filed its Annual Report and financial statements for the year ended December 31, 2023. The company achieved $17.3 million in revenues, marking a successful year. Ur-Energy's CEO, John Cash, highlighted the significant progress in ramping up and recommissioning activities at the Lost Creek facility, including the milestone of the 75th uranium shipment. Two additional sales agreements have been signed, strengthening the company's contract portfolio through 2030.

Lost Creek's operations saw the initiation of two new header houses, contributing to the total uranium capture of approximately 103,487 pounds U3O8 in 2023, with Q4 alone accounting for 68,448 pounds. These operational advancements are part of Ur-Energy's strategy to secure well-priced, long-term contracts while leaving some production capacity for the strong spot market. The firm reported having cash resources of $59.7 million as of December 31, 2023, a significant increase from the previous year.

In 2023, Ur-Energy sold a total of 280,000 pounds of U3O8 at an average price of $61.89 per pound, generating a notable gross profit margin of nearly 50%. This marks a significant improvement in the company's financial performance, showcasing its ability to generate positive gross profits from uranium sales amidst the evolving market dynamics.