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Friday
Jul122013

Ur-Energy Provides Pathfinder Mines Acquisition Update

Littleton, Colorado (PR Newswire – July 12, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that the Company has received notice from the U.S. Nuclear Regulatory Commission (“NRC”) of its approval of the transfer of the Pathfinder Mines Corporation (“Pathfinder”) Shirley Basin license.

The transfer approval is among the closing conditions of the Share Purchase Agreement with COGEMA Resources, Inc. (“COGEMA”), an affiliate of AREVA Mining, by which a U.S. subsidiary of Ur-Energy will acquire all the outstanding shares of Pathfinder.  For additional details, please see the Company’s July 24, 2012 news release.  The NRC also approved the transfer to COGEMA of the NRC license for the Pathfinder Lucky Mc tailing site.  Ur-Energy will assume no obligations for the tailing site, which is fully reclaimed and in the process of being transferred to the U.S. Department of Energy. The Company and COGEMA continue to advance the other remaining governmental approvals and to satisfy additional customary closing conditions toward completing the acquisition anticipated during the third quarter this year.

Ur-Energy CEO Wayne Heili said, “The completion of the Pathfinder transaction remains an integral element of Ur-Energy’s U.S. based in-situ uranium recovery strategy.  We look forward to closing the acquisition in the near future.”  

 

About Ur-Energy

Ur-Energy is a junior uranium mining company currently constructing its first in-situ recovery (ISR) uranium mine in south- central Wyoming at its fully licensed and permitted Lost Creek project.  The Lost Creek processing facility will have two million pounds per year capacity and is anticipated to be in production in the second half of 2013. Ur-Energy engages in the identification, acquisition, exploration and development of uranium projects in the United States and Canada.  Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE MKT 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., the ability to complete and timing for a closing of the Pathfinder purchase transaction; timing of completion of construction and commencement of operations at 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; 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 a PDF of this News Release

Wednesday
Jul032013

Ur-Energy Completes Additional Uranium Sales Agreement 

Littleton, Colorado (PR Newswire – July 3, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy” or the “Company”) is pleased to announce that it has entered into a uranium supply agreement with a U.S. based nuclear operating company.  The agreement calls for deliveries ranging between 200,000 to 300,000 pounds of uranium concentrate each year in a multi-year schedule commencing in 2017.  The average delivery price under the agreement is consistent with the current published Long-Term U3O8 price indicators. 

The completion of this supply agreement continues the Company’s fulfillment of a marketing strategy developed with the assistance of Mr. Jim Cornell of NuCore Energy, with whom Ur-Energy continues to work.  The Company plans to commit a pre-determined portion of the expected uranium production capacity from its Lost Creek Project in long term supply agreements with North American nuclear utilities at prices that will ensure the project’s financial viability.

Ur-Energy CEO Wayne Heili said, “The value of holding supply agreements with fixed pricing structures has been clearly recognized during this ongoing period of softness in the uranium spot market.  This supply arrangement is an important 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 mining company currently constructing its first in-situ recovery (ISR) uranium mine in south- central Wyoming at its fully licensed and permitted Lost Creek project.  The Lost Creek processing facility will have two million pounds per year capacity and is anticipated to be in production in the second half of 2013. Ur-Energy engages in the identification, acquisition, exploration and development of uranium projects in the United States and Canada.  Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE MKT 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., ability to complete additional sales agreements at favorable pricing; timing of completion of construction and commencement of operations at 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; 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 a PDF of this News Release

Tuesday
Jun252013

Ur-Energy Closes US$20,000,000 Loan Facility

 

Littleton, Colorado (PR Newswire – June 25, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG) (“Ur‑Energy” or the “Company”) is pleased to announce that the Company, and certain of its U.S. subsidiaries, closed the previously  announced US$20.0 million secured loan facility (the “Loan Facility”) with RMB Australia Holdings Ltd. (“RMBAH”) on June 24, 2013.

The Loan Facility is intended to provide additional interim working capital for the construction of the Company’s flagship Lost Creek Project.  Proceeds from the Loan Facility will also be used to repay all amounts outstanding under the previously announced US$5.0 million bridge loan facility with RMBAH. 

The Loan Facility includes the following terms:

  •  an interest rate of LIBOR plus 7.5% per annum calculated quarterly;
  • an arrangement fee of 6.0% payable at closing;
  • a grant of a 4,294,167 warrants with a five-year expiry exercisable for 4,294,167 common shares of the Company at an exercise price of C$1.20, and other terms as set forth in the warrant certificate;
  • customary security and other customary terms as set forth in the Loan Facility transaction documents.

The Company continues to work with the State of Wyoming and Sweetwater County to advance a US$34.0 million bond loan (the “Bond Loan”) through the State’s Industrial Development Bond program towards completion.  It is expected that the Loan Facility will be repaid upon the closing of the Bond Loan, after which time the Loan Facility will remain available to fund the acquisition and advancement of the Pathfinder Mines assets in Wyoming.  The Company continues to anticipate receiving all required regulatory approvals for the closing of the previously announced Pathfinder Mines Corporation acquisition in the near future.

Ur-Energy President and CEO Wayne Heili commented, “We are very pleased to announce the closing of this Loan Facility, which provides a great deal of flexibility to the Company as we complete the construction of the Lost Creek Project and await final approvals of the Bond Loan and Pathfinder acquisition.”

 

About Ur-Energy

Ur-Energy is a junior uranium mining company currently constructing its first in-situ recovery (ISR) uranium mine in south- central Wyoming at its fully licensed and permitted Lost Creek project.  The Lost Creek processing facility will have two million pounds per year capacity and is anticipated to be in production in the second half of 2013. Ur-Energy engages in the identification, acquisition, exploration and development of uranium projects in the United States and Canada.  Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE MKT 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., timing and ability to complete bond closing; timing of receipt of governmental approvals for and completion of the closing of the Pathfinder acquisition; timing of completion of construction and commencement of operations at 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; 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 a PDF of this News Release

Wednesday
Jun192013

Ur-Energy to Present at the Global Hunter Securities 100 Energy Conference

Littleton, Colorado (PR Newswire – June 19, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy” or the “Company”) announced today that Jeffrey Klenda, Chairman, will be presenting at the Global Hunter Securities 100 Energy Conference in Chicago, IL.  The Company’s presentation is scheduled to begin at 11:00AM CDT on Tuesday, June 25, 2013.

Presentation materials will be available in the Investor Info section at www.ur-energy.com.

About Ur-Energy

Ur-Energy is a junior uranium mining company currently constructing its first in-situ recovery (ISR) uranium mine in south- central Wyoming at its fully licensed and permitted Lost Creek project.  The Lost Creek processing facility will have two million pounds per year capacity and is anticipated to be in production mid-year 2013.  Ur-Energy engages in the identification, acquisition, exploration and development of uranium projects in the United States and Canada.  Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE MKT 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 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 (e.g., timing of completion of construction and commencement of operations at Lost Creek). 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 a PDF of this News Release

 

Monday
Jun172013

Ur-Energy Set to Join Russell 3000 Index

Littleton, Colorado (PR Newswire – June 17, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG)  (“Ur-Energy” or the “Company”) is set to join the broad-market Russell 3000Ò Index when Russell Investments (“Russell”) reconstitutes its comprehensive set of U.S. and global equity indexes on June 28, according to a preliminary list of additions posted June 14 on www.russell.com/indexes

Annual reconstitution of Russell’s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000Ò, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000Ò Index or small-cap Russell 2000Ò Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.

“The Ur-Energy team is excited to be included in the Russell 3000Ò Index, validating our continued effort to build shareholder value,” said Jeff Klenda, Chairman of the Board of Ur-Energy.  “We believe that this provides us with the opportunity to expand our shareholder base as we complete construction of our Lost Creek Project, continue to capitalize on our strategic initiatives and grow our Company.”

The Russell 3000Ò also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.  Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Approximately $4.1 trillion in assets are benchmarked to the Russell Indexes. Russell calculates more than 700,000 benchmarks daily covering approximately 98 percent of the investable market globally, more than 80 countries and 10,000 securities. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.

Total returns data for the Russell 3000 and other Russell Indexes are available at http://www.russell.com/Indexes/performance/default.asp.

 

About Ur-Energy

Ur-Energy is a junior uranium mining company currently constructing its first in-situ recovery (ISR) uranium mine in south- central Wyoming at its fully licensed and permitted Lost Creek project.  The Lost Creek processing facility will have two million pounds per year capacity and is anticipated to be in production mid-year 2013.  Ur-Energy engages in the identification, acquisition, exploration and development of uranium projects in the United States and Canada.  Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol “URE” and on the NYSE MKT 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.

 

About Russell

Russell Investments (“Russell”) is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell stands with institutional investors, financial advisors and individuals working with their advisors—using the firm’s core capabilities that extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes to help each achieve their desired investment outcomes.

Russell has more than $173 billion in assets under management (as of 3/31/2013) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has $2.6 trillion in assets under advisement (as of 12/31/2012). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell traded more than $1.4 trillion in 2012 through its implementation services business.

 

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 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 (e.g., timing of completion of construction and commencement of operations at Lost Creek). 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 a PDF of this News Release