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News Breaks
May 22, 2014
06:05 EDTURGUR-Energy sees FY14 revenue for contractual sales $26.5M
Ur-Energy has secured sales commitments for approximately 518,000 pounds U3O8 at an average realizable sales price of $51.10/lb in 2014. This total includes the reported sales of 110,000 pounds U3O8 in first quarter 2014. The company guides that it will hold any excess production from Lost Creek in inventory which may be utilized to meet future delivery obligations or to complete discretionary spot transactions. Production operations at Ur-Energy's Lost Creek continue to generate results consistent with the forecasted cash operating costs. The company has reviewed its projected monthly cash flow requirements in detail and has confirmed that there is currently no need to raise additional working capital during 2014. The implementation of discrete cost controls at the facility in conjunction with the reductions in spending associated with managed production rates are expected to allow the company to maintain a positive cash position throughout 2014 and 2015. Ur-Energy has secured sales commitments for a total of 630,000 pounds U3O8 at an average realizable price of $50.10/lb in 2015. Revenue from the 2015 contractual sales is projected to exceed $31M. The company expects to maintain production levels at Lost Creek consistent with the contractual sales obligations in 2015 unless the market demonstrates sustained price improvement.
News For URG From The Last 14 Days
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April 13, 2015
06:05 EDTURGUR-Energy reports 192,300 lbs of U3O8 captured in Q1
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April 10, 2015
17:28 EDTURGUR-Energy CEO Wayne Heili to leave, effective May 1
Ur-Energy announced Wayne Heili, its President and CEO, will be departing the company. Current Board Chair and Executive Director, Jeffrey Klenda, will assume the role of acting CEO. The company also announced that it will hold its annual shareholders meeting on May 28, and the nominated directors include a new independent director, Gary Huber. Heili's current employment agreement with the company will expire on May 1, and his employment will conclude following completion of that term. Klenda is well-suited to assume the role of acting CEO as he co-founded the company in 2004 and has served as the Chair and Executive Director since 2006.

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