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Ur-Energy 2010 News Releases

Friday
Jun042010

Ur-Energy Receives Permit For Holding Ponds at Lost Creek

 

Denver, Colorado (Market Wire – June 04, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG) is pleased to announce the receipt of permit approval from the Wyoming  State Engineer’s Office for the construction and operation of waste water retention ponds for Ur-Energy’s Lost Creek In-situ Recovery (ISR) uranium project in Wyoming.  The approval of this important permit continues to demonstrate measurable progress in the Company’s effort to fully permit Ur-Energy’s wholly owned Lost Creek ISR project.

The Wyoming State Engineer’s Office (WSEO) finalized its approval of the holding pond designs on May 28, 2010.  The permit authorizes Ur-Energy to construct and operate two water holding ponds for the purpose of water management at the Lost Creek site.  This authorization, in combination with the Wyoming Department of Environmental Quality (WDEQ) Class I UIC permit, also issued recently, demonstrates the viability of the water management systems planned for the Lost Creek Project (see Ur-Energy’s June 1, 2010 press release for more information on the Class I UIC permit).  The early approval of these critical facilities underscores the substantial progress in finalizing the permitting of the Lost Creek project being conducted by the U.S. Nuclear Regulatory Commission and the WDEQ Land Quality Division.

Wayne Heili, Vice President of Mining and Engineering stated, “Approval of this and other recently authorized permits illustrates the value of Ur-Energy’s thorough approach to regulatory and permitting affairs for the Lost Creek Project.  I am looking forward to completing work on the remaining licenses and permits with the various state and federal regulatory agencies over the coming months.”

W. William Boberg, President and CEO, a Professional Geologist, and Qualified Person as defined by National Instrument 43-101, supervised the preparation of and reviewed the technical information contained in this release.

 

About Ur-Energy

Ur-Energy is a uranium exploration and development company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production while also planning and permitting a two-million-pounds-per-year in situ uranium processing facility. Ur-Energy engages in the identification, acquisition and exploration of uranium properties in both Canada and the United States. Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE Amex under the symbol “URG”. Ur-Energy’s corporate office is located in Littleton, Colorado; its registered office is in Ottawa, Ontario.  Ur-Energy’s website is www.ur-energy.com.  

FOR FURTHER INFORMATION, PLEASE CONTACT:            

Rich Boberg, Director PR/HR  

303-269-7707

866-981-4588

Click here to send Rich an email.

Bill Boberg, President and CEO

303-269-7755

866-981-4588

Click here to send Bill an email.

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. timetables at Lost Creek; sufficiency of cash to fund capital requirements; receipt of (and related timing of) an NRC Source Material License and WDEQ Permit to Mine and all other necessary permits and regulatory authority related to Lost Creek; and the sustainability and timeline of Lost Creek production) 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; capital and other costs varying significantly 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. 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.

 

Click here for PDF of this News Release

Tuesday
Jun012010

Ur-Energy Announces CDN$5,000,000 Private Placement 

 

Denver, Colorado (Marketwire – June 1, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) announced that it has closed a brokered private placement financing (the “Offering”).  Under the Offering, the Company issued 5,000,000 common shares at a price of CDN$1.00 per share for gross proceeds of CDN$5,000,000.  Blackrock, Inc. (“Blackrock”), an insider of the Company, through one of its investment advisory subsidiaries, subscribed for all of the 5,000,000 common shares issued under the Offering.

Jeffrey Klenda, Chairman, stated, “Blackrock has been our largest shareholder since 2005, prior to our IPO, and has been a solid supporter of the Company since that time.  We are extremely pleased with Blackrock’s desire to increase its holdings to this extent.  It clearly demonstrates their ongoing commitment to Ur-Energy’s success.” 

The proceeds from the Offering are expected to be used by the Company to finance drilling, mine development on its properties, and for general working capital and corporate purposes.

Bill Boberg, President and CEO, stated further, “We continue to be well funded with CDN$38.5 million as current cash resources as of March 31, 2010. We believe this is sufficient cash to get our Lost Creek Project into production after receiving the final necessary licenses in upcoming months.  While our current guidance for receipt of all final permits and licenses continues to be this summer, various regulatory delays over the past couple of years created a funding gap before first cash flow.  Blackrock’s continuing support of Ur-Energy is most appreciated.”

Rodman & Renshaw, LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), acted as agent for the Offering.  

Following the Offering, Blackrock is expected to hold approximately 15.34% of the issued and outstanding shares of the Company.  The participation of Blackrock in the Offering constitutes a Related Party Transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”).  The board of directors of the Company determined that the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 and unanimously approved the Offering.  The material change report in respect of the transaction was not filed 21 days in advance of the closing of the Offering. The shorter period was necessary in order to permit the Corporation to close the Offering in a timeframe consistent with usual market practice for transactions of this nature and to respond to the uncertainty in the equity capital markets given the current global economic conditions.

About Ur-Energy

Ur-Energy is a uranium exploration and development company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production while also planning and permitting a two-million-pounds-per-year in situ uranium processing facility. Ur-Energy engages in the identification, acquisition and exploration of uranium properties in both Canada and the United States. Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE Amex under the symbol “URG”. Ur-Energy’s corporate office is located in Littleton, Colorado and its registered office is in Ottawa, Ontario.  Ur-Energy’s website is www.ur-energy.com

FOR FURTHER INFORMATION, PLEASE CONTACT:            

Rich Boberg, Director PR/HR  

303-269-7707

866-981-4588

Click here to send Rich an email.

Bill Boberg, President and CEO

303-269-7755

866-981-4588

Click here to send Bill an email.

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., timetables at Lost Creek; sufficiency of cash to fund capital requirements; receipt of (and related timing of) an NRC Source Material License and WDEQ Permit to Mine and all other necessary permits and regulatory authority related to Lost Creek) 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; financing conditions and related use of proceeds, failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; capital and other costs varying significantly 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. 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.

 

Click here for PDF of this News Release

Tuesday
Jun012010

Ur-Energy Receives Final Permit Approval For UIC Class I Injection Wells

 

Denver, Colorado (Market Wire – June 1, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG) is pleased to announce the receipt of final permit approval from the State of Wyoming for the construction and operation of UIC Class I injection wells for Ur-Energy’s Lost Creek In-situ Recovery (ISR) uranium project in Wyoming.  Issuance of this required permit marks a significant milestone in the effort to fully permit Ur-Energy’s wholly owned Lost Creek ISR project.

The Wyoming Department of Environmental Quality (WDEQ) finalized its approval of the Class I Underground Injection Control Permit (UIC Permit) which authorizes Ur-Energy to drill, complete and operate up to five Class I non-hazardous injection wells at the Lost Creek site.  The WDEQ authorized a sufficient number of wells and capacity to meet the anticipated water management requirements for the life of the Lost Creek ISR project. With prior authority, one well was previously installed by Ur-Energy to the appropriate depth for the purpose of collecting data for the application and that well was constructed to serve as a Class I injection well in the future.  The UIC Permit demonstrates Ur-Energy’s commitment to protecting the environment through the use of best practice technology and well accepted water management systems.

John Cash, Director of Regulatory Affairs stated, “We are very pleased to receive this major permit from the State of Wyoming. We look forward to continuing to work with the state and federal regulatory agencies as we finalize the remaining licenses and permits for Ur-Energy’s flagship property, Lost Creek.”

Bill Boberg, President and CEO of Ur-Energy added, “The issuance of this permit demonstrates that our permitting efforts are falling in to place as anticipated.”  

W. William Boberg, President and CEO, a Professional Geologist, and Qualified Person as defined by National Instrument 43-101, supervised the preparation of and reviewed the technical information contained in this release.

About Ur-Energy

Ur-Energy is a uranium exploration and development company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production while also planning and permitting a two-million-pounds-per-year in situ uranium processing facility. Ur-Energy engages in the identification, acquisition and exploration of uranium properties in both Canada and the United States. Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE Amex under the symbol “URG”. Ur-Energy’s corporate office is located in Littleton, Colorado; its registered office is in Ottawa, Ontario.  Ur-Energy’s website is www.ur-energy.com.  

FOR FURTHER INFORMATION, PLEASE CONTACT:            

Rich Boberg, Director PR/HR  

303-269-7707

866-981-4588

Click here to send Rich an email.

Bill Boberg, President and CEO

303-269-7755

866-981-4588

Click here to send Bill an email.

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. timetables at Lost Creek; sufficiency of cash to fund capital requirements; receipt of (and related timing of) an NRC Source Material License and WDEQ Permit to Mine and all other necessary permits and regulatory authority related to Lost Creek; and the sustainability and timeline of Lost Creek production) 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; capital and other costs varying significantly 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. 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.

 

Click here for PDF of this News Release

Monday
May172010

Ur-Energy Chairman Broadens Ownership

 

Denver, Colorado (Market Wire – May 17, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG) announces that Jeffrey T. Klenda, Chairman and Executive Director, has increased his ownership in the Corporation. 

Since the Corporation was listed on the NYSE Amex in July 2008, Mr. Klenda has purchased an additional 702,000 common shares of the Corporation, of which 168,800 were purchased in the current year.  The total cost of acquiring the 702,000 common shares was approximately C$642,000, which represents an average price of C$0.91 per common share.

Mr. Klenda stated “I strongly believe in the nuclear renaissance and Ur-Energy’s future role as a fuel provider.  I want my ongoing purchases to reflect that conviction.”

About Ur-Energy

Ur-Energy is a uranium exploration and development company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production while also planning and permitting a two-million-pounds-per-year in situ uranium processing facility. Ur-Energy engages in the identification, acquisition and exploration of uranium properties in both Canada and the United States. Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE Amex under the symbol “URG”. Ur-Energy’s corporate office is located in Littleton, Colorado and its registered office is in Ottawa, Ontario.  Ur-Energy’s website is www.ur-energy.com.  

FOR FURTHER INFORMATION, PLEASE CONTACT:            

Rich Boberg, Director PR/HR  

303-269-7707

866-981-4588

Click here to send Rich an email.

Bill Boberg, President and CEO

303-269-7755

866-981-4588

Click here to send Bill an email.

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., continuation of the current ‘nuclear renaissance’ and the Company’s role as a future fuel provider) 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; capital and other costs varying significantly 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. 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.

 

Click here for PDF of this News Release

Wednesday
May052010

Ur-Energy Announces Resignation of Director

 

Denver, Colorado (Marketwire – May 5, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) announces the resignation of Robert Boaz from the Board of Directors of the Company. 

The Company announced today that Mr.  Boaz has resigned his position as a director of the Company in order that he may focus on other business pursuits.  Mr. Boaz has served as a director since 2006.  His resignation is effective immediately.

W. William Boberg, President and CEO of Ur-Energy stated, “We wish to thank Bob Boaz for his service and contributions to the Ur-Energy Board over the past four years.  We wish him continuing success.”

About Ur-Energy

Ur-Energy is a uranium exploration and development company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production while also planning and permitting a two-million-pounds-per-year in situ uranium processing facility. Ur-Energy engages in the identification, acquisition and exploration of uranium properties in both Canada and the United States. Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE Amex under the symbol “URG”. Ur-Energy’s corporate office is located in Littleton, Colorado and its registered office is in Ottawa, Ontario.  Ur-Energy’s website is www.ur-energy.com

FOR FURTHER INFORMATION, PLEASE CONTACT:            

Rich Boberg, Director PR/HR  

720-981-4588, ext. 238

866-981-4588, ext. 238

Click here to send Rich an email.

Bill Boberg, President and CEO

720-981-4588, ext. 223

866-981-4588, ext. 223

Click here to send Bill an email.

This release may contain “forward-looking statements” within the meaning of applicable securities laws regarding events or conditions that may occur in the future 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; capital and other costs varying significantly 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. 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.

 

Click here for PDF of this News Release