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Wednesday
Feb292012

Ur-Energy Completes Agreement to Acquire Property Interests Adjacent to Lost Creek

Littleton, Colorado (PR Newswire – February 29, 2012) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to report that  the Company’s wholly-owned subsidiary NFU Wyoming, LLC has completed an Asset Exchange Agreement (the “Agreement”) with Uranium One Americas, Inc. (“Uranium One”) which provides for the transfer to Ur-Energy of specific federal unpatented mining claims and State of Wyoming Mineral Leases (the “Property Interests”) located adjacent to Ur-Energy’s Lost Creek Property.  In accordance with the terms of the Agreement, the specified Property Interests, associated mineral rights and related data are to be exchanged for the Company’s Southwest Powder River Basin drill hole database package (the “Database”). 

Ur-Energy President and CEO Wayne Heili stated, “This Agreement to exchange Wyoming assets between Ur-Energy and Uranium One represents a true “win-win” arrangement.  The acquired property interests fit well with Ur-Energy’s corporate strategy of expanding the resource base available for processing at the Lost Creek facility while the database will be useful to Uranium One with respect to its Allemand-Ross project in Wyoming’s Powder River Basin.”

The Property Interests

The Property Interests being conveyed to Ur-Energy are contiguous with the southeast, north and southwest boundaries of the Company’s Lost Creek Project which is licensed by the US Nuclear Regulatory Commission (“US NRC”) and permitted with the Wyoming Department of Environmental Quality.  The Property Interests comprise two Wyoming State Mineral Leases and one hundred seventy-five federal mining claims, collectively totalling approximately 5,250 acres (2,124 hectares).  Combined with the Company’s current property holdings, the Lost Creek Property will include over 39,000 contiguous acres (15,783 hectares) when the transaction is completed. 

In addition, Uranium One will provide certain geologic data files related to the area in which the State Mineral Leases and federal mining claims are located.  Prior to entering into this Agreement, Ur-Energy already possessed a database containing approximately 1,000 historic drill holes within the area of the Property Interests.  Ur-Energy’s technical team plans to use the available historic drill data to determine a resource for the newly acquired Property Interests and expects to incorporate those resources into an updated NI 43-101 report for the Lost Creek Property.

The Database 

In consideration for the Property Interests, Uranium One will acquire a geologic database containing over 3,000 unique drill hole logs,  greater than 200 report maps,  cross-sections and reports covering an area of interest in Converse County, Wyoming that includes Uranium One’s Allemand-Ross project.

About Ur-Energy

Ur-Energy is a junior uranium company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production.  Permitting also will allow the construction of a two-million-pounds-per-year in situ uranium processing facility. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. 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, IR/PR

 

Wayne Heili, President and CEO

303-269-7707  

 

307-265-2373

866-981-4588     

 

866-981-4588

Click here to contact Rich   

 

Click here to contact Wayne

 

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., whether and to what extend the property interests will fit with Ur-Energy’s strategy of expanding the resource base available to the Lost Creek facility; the timing and results of an updated NI 43-101 report utilizing the historic drill results on the new property) 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; 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 press release

Friday
Feb242012

Ur-Energy Closes Private Placement for C$17.25 Million

Littleton, Colorado (PR Newswire – February 24, 2012) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that it has closed a brokered private placement financing pursuant to which the Company sold 17,250,000 common shares (the “Shares”) at a price of C$1.00 per Share for total gross proceeds of C$17,250,000 (the “Offering”). Dundee Securities Ltd., as sole bookrunner, and ROTH Capital Partners, LLC, acted as Agents for the Offering. The Offering included the exercise of an over-allotment option by the Agents for 2,250,000 Shares.

The net proceeds are expected to be used for construction of Ur-Energy’s Lost Creek uranium project in Wyoming, for possible acquisitions and for general corporate purposes.

Jeffrey Klenda, Chairman of the Company, stated, “This financing is an important component in Ur-Energy’s development strategy of bringing its Lost Creek project into production.  The financing allows us to continue to execute our business plan and demonstrates our ability to access the capital markets even in this challenging environment.”

Blackrock, Inc. (“Blackrock”), an insider of the Company, through one of its investment advisory subsidiaries, subscribed for 2,000,000 Shares issued under the Offering.  Following the Offering, Blackrock is expected to hold approximately 16.75% 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, along with the audit committee, unanimously approved the Offering, including Blackrock’s participation.  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.

A cash commission of 4.5% of the gross proceeds of the Offering was paid to the Agents.  The Shares issued in the Offering are subject to a statutory hold period of four months and a day expiring on June 24, 2012.The Shares have not been registered in the United States under the Securities Act of 1933 (“Securities Act”) or applicable state securities laws, and are subject to the restrictions on resale as set forth in the Securities Act. 

About Ur-Energy

Ur-Energy is a junior uranium company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production.  Permitting also will allow the construction of a two-million-pounds-per-year in situ uranium processing facility. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. 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, IR/PR                                                             Wayne Heili, President and CEO

303-269-7707                                                                                  307-265-2373

866-981-4588                                                                                  866-981-4588

Click here to contact Rich                                                                Click here to contact Wayne

This release may contain “forward-looking statements” within the meaning of applicable securities laws regarding events or conditions that may occur in the future, including the use of proceeds from the Offering, timetables and construction at Lost Creek and future possible acquisitions, 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; 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 press release 

Thursday
Feb092012

Ur-Energy Completes Third Uranium Sales Agreement

Littleton, Colorado (PR Newswire – February 9, 2012) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that it has successfully negotiated its third agreement to supply uranium produced at its wholly-owned Lost Creek Project. 

The signing of this supply agreement marks the realization of Ur-Energy’s strategic product marketing objective by which the Company has committed a pre-determined portion of the forecasted uranium production from Lost Creek into term sales agreements with U.S. based nuclear utilities.  This agreement calls for total deliveries of 100,000 pounds of uranium concentrate per year in a multi-year schedule.  The agreement specifies firm delivery prices in the low US$60 per pound range over its term.

Securing product pricing that supports the development plans for the Lost Creek Project is a core component of the Company’s uranium marketing strategy  developed under an arrangement with Mr. Jim Cornell of NuCore Energy.  Ur-Energy expects to begin production from Lost Creek in the second quarter of 2013 and ramp up production to nearly one million pounds per year in 2014 and beyond.  Mr. Cornell notes, “Ur-Energy recognizes that  term  contract pricing has historically exceeded the pricing available in the uranium spot market. One leading source for uranium market information currently reports a twenty percent premium for term contracts over the current uranium spot price. For this reason, favorable term delivery contracts are an essential component of a sound marketing plan.” 

Ur-Energy CEO Wayne Heili said, “We are pleased that our efforts to work closely with North American utilities have resulted in several valuable contracts. Adding this marketing component to our collection of accomplishments in project financing, permitting and licensing, resource development, and project design establishes a solid foundation for the future of Ur-Energy and the Lost Creek Project.”

About Ur-Energy

Ur-Energy is a junior uranium company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production.  Permitting also will allow the construction of a two-million-pounds-per-year in situ uranium processing facility. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. 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, IR/PR                                     Wayne Heili, President and CEO

303-269-7707                                                         307-265-2373

866-981-4588                                                         866-981-4588

Click here to email Rich                                             Click here to email Wayne

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; the ability to complete additional uranium sales agreements and on what terms; successful implementation of the growth strategy of the Company; whether the product pricing supports and sustains the Lost Creek project; receipt of (and related timing of) the remaining authorization for operations from the US BLM; and the sustainability, timeline and future profitability 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; 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.  Additional risks relating to Ur-Energy may be found in current and periodic reports filed by Ur-Energy with Canadian securities regulatory authorities on www.sedar.com and the US SEC at http://ww.sec.gov/edgar.shtml.

Click here for pdf of this press release

Wednesday
Feb012012

Ur-Energy Announces $15 Million Private Placement 

Littleton, Colorado (PR Newswire – February 1, 2012) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of agents (the “Agents”) under which the Agents have agreed to sell on a best-efforts private placement basis approximately 15,000,000 common shares (the “Shares”) at a price of CAD$1.00 per Share for total gross proceeds of CAD$15,000,000 (the “Offering”). The Agents have been granted an option to sell up to an additional 15% of the Offering, exercisable in whole or in part at any time up to 48 hours before the Closing Date (the “Option”).

The closing date of the Offering is scheduled on or about February 23, 2012.  All securities issued will be subject to a four month hold period. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals. 

The net proceeds will be used for construction of Ur-Energy’s Lost Creek uranium project in Wyoming, for possible acquisitions and for general corporate purposes.

The Shares have not been registered under the Securities Act of 1933 (“Securities Act”) or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.  This press release is being issued pursuant to Rule 135c under the Securities Act. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the Shares.

About Ur-Energy

Ur-Energy is a junior uranium company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production.  Permitting also will allow the construction of a two-million-pounds-per-year in situ uranium processing facility. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. 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, IR/PR                           Wayne Heili, President and CEO

303-269-7707                                               307-265-2373

866-981-4588                                               866-981-4588

Click here to contact Rich                                Click here to contact Wayne

 

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., the closing of the offering and the use of proceeds from the proposed offering including timetables and construction at Lost Creek and future acquisitions) 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; 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.  Additional risks relating to Ur-Energy may be found in current and periodic reports filed by Ur-Energy with Canadian securities regulatory authorities on www.sedar.com and the US SEC at http://www.sec.gov/edgar.shtml.

Click here for pdf of this press release 

Monday
Jan232012

Ur-Energy Enters Into New Uranium Sales Agreement 

Littleton, Colorado (PR Newswire – January 23, 2012) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG) (“Ur-Energy” or the “Company”) is pleased to announce that it has entered into a new uranium supply agreement with a North American based utility company. The contract calls for total deliveries of 200,000 pounds of uranium concentrate per year in a multi-year schedule commencing in 2013. The average delivery price under the agreement is consistent with the current Long-Term U3O8 Price Indicator published by Trade Tech.

The successful completion of this supply agreement moves Ur-Energy closer to fulfilling the marketing strategy that the Company developed under an arrangement entered into with Mr. Jim Cornell of NuCore Energy, in October of last year. The strategy calls for Ur-Energy to sell a pre-determined portion of the expected uranium production capacity from its Lost Creek Project in term agreements with North American nuclear utilities at prices that will ensure the project’s financial viability. The contract, together with others that Ur-Energy expects to complete in the near future, constitutes a very important aspect of the Company’s growth strategy. Ur-Energy expects to begin production from Lost Creek in the second quarter of 2013 and ramp up production to near one million pounds per year in 2014.

Ur-Energy CEO Wayne Heili said, “We are very pleased that our newest utility customer expressed its confidence in our team and the Lost Creek Project by agreeing to establish a supply relationship with us. This supply arrangement is a critical component of our overall growth strategy as it contributes to the future financial viability of our U.S. based uranium mining operations.”

About Ur-Energy

Ur-Energy is a junior uranium company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production. Permitting also will allow the construction of a two-million-pounds-per-year in situ uranium processing facility. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units. 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, IR/PR                      Wayne Heili, President and CEO

303-269-7707                                       307-265-2373

866-981-4588                                       866-981-4588

Click her to contact Rich                           Click here to contact Wayne

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; the ability to complete additional uranium sales agreements and on what terms; successful implementation of the growth strategy of the Company; receipt of (and related timing of) the Record of Decision of the BLM related to the Lost Creek Plan of Operations; and the sustainability, timeline and future profitability 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; 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. Additional risks relating to Ur-Energy may be found in current and periodic reports filed by Ur-Energy with Canadian securities regulatory authorities on www.sedar.com and the US SEC at http://ww.sec.gov/edgar.shtml.

Click here for pdf of this press release

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