Ur-Energy Inc. Announces First Quarter 2024 Results and Business Developments

Ur-Energy Inc. reported its Q1 2024 results and discussed the U.S. Senate's recent approval of a Russian Uranium Ban, which is believed to benefit domestic suppliers like Ur-Energy. Rapid progress at Lost Creek Operation has been noted, with significant production and shipping quantities reported. Moreover, new sales agreements have been established, foreseeing deliveries of up to 5,720,000 pounds of U3O8 through 2030.

Financially, Ur-Energy detailed a decrease in cash resources and outlined expenditures and earnings over the quarter. No U3O8 sales occurred in Q1 2024; however, projections based on contracts established in 2022 are set at 570,000 pounds with anticipated revenues. The company also indicated it continued advancements in its operation sites, overcoming equipment and operational challenges, and optimizing production processes.