Ur-Energy Sales Transaction Raises Funds for Lost Creek Project

Uranium Energy Inc (TSX:URE, NYSE MKT:URG) announced that it was able to raise approximately US $5.1M from the closing of a uranium sales transaction which it will use to support the ongoing construction of its Lost Creek Project.

As quoted in the press release:

Ur-Energy, with the cooperation of one of its utility customers, assigned a portion of its contractual delivery obligations to Traxys, a large uranium and natural resource trading company, in exchange for a current cash payment.  Ur-Energy has retained additional future delivery obligations under this and other previously announced uranium sales agreements.

Click here to read the full Uranium Energy Inc (TSX:URE, NYSE MKT:URG) press release.

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Peninsula Energy (ASX:PEN) is set to be the ASX’s next uranium producer. Its flagship Lance Projects in Wyoming is headed towards production in 2015, with purchasing contracts secured for 2015 to 2024.

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