Ur-Energy Reports $8.5 Million in Sales Revenues for Q3

Ur-Energy (NYSE MKT:URG,TSX:URE) reported its results for the third quarter of 2015. Overall, the company reported $8.5 million in sales for the quarter, including one term-contract sale of 100,000 pounds at $66.71 and one 50,000 pound spot sale at $35.75.
As quoted in the press release:

During the three months ended September 30, 2015, 172,282 pounds of U₃O₈ were captured within the Lost Creek plant, 176,850 pounds were packaged in drums and 184,380 pounds of drummed inventory were shipped to the conversion facility, where 150,000 pounds were sold to customers at an average price of $56.39.  Sales revenues for the quarter of $8.5 million included one term-contract sale of 100,000 pounds at $66.71 and one 50,000 pound spot sale at $35.75.
This brings our U₃O₈ production totals for the nine months ended September 30, 2015 to 571,830 pounds captured, 537,765 pounds drummed and 535,557 pounds shipped. Through September 30, 2015, we sold a total of 700,000 pounds of U₃O₈ for $34.1 million, which includes 500,000 pounds from Lost Creek produced U₃O₈ and 200,000 pounds from externally purchased U₃O₈. Our average cash cost per pound sold for the quarter was $15.19, which represents a decrease of $0.96, or 5.9%, from the previous quarter. Our year-to-date average cost per pound sold is now $16.66 for the nine months ended September 30, 2015.  These cash cost per pound figures exclude ad valorem and severance taxes, which were $2.59 and $3.29 for the three and nine months ended September 30, 2015, respectively.

UR Energy executive director, Jeff Klenda, said:

Lost Creek has proven to be a truly exceptional property and, by improving our efficiencies, our operational team continues to deliver outstanding industry leading performance.

Click here to read the full press release.