Ur-Energy Announces Uranium Sales Agreement

Ur-Energy Inc. (TSX:URE,AMEX:URG) reports that it has entered into its first long-term uranium sales .

The press release is quoted as saying:

The agreement relates to production from the Company’s Lost Creek project in Sweetwater County, Wyoming. The long-term contract calls for deliveries over a three-year period at a defined price for the term of the agreement.

Ur-Energy’s President and CEO, Bill Boberg says:

“We have had many opportunities over the past few years to enter into sales agreements for our future uranium production but we were not willing to do so until we developed greater regulatory clarity for our production timeline. With the recent receipt of the draft license from the NRC, our production timeline is sufficiently clear that we are pursuing uranium sales opportunities. Stronger spot pricing will allow the Company to lock in favorable profits. We are very pleased with this initial agreement.”

Click here to access the entire news release.