Ur-Energy Provides 2016 Q2 Operational Results

Ur-Energy (TSX:URE) has announced its operational results for the second quarter 2016.
As quoted in the press release:

For the quarter, 133,341 pounds of U₃O₈ were captured within the Lost Creek plant. 130,308 pounds U₃O₈ were packaged in drums and 148,714 pounds U₃O₈ of drummed inventory were shipped out of the Lost Creek processing plant. At June 30, 2016, inventory at the conversion facility was approximately 135,723 pounds U₃O_8.  During the quarter, sales totaled $6.7 million with two contract sales totaling 137,000 pounds at an average price of $39.35 per pound, and one spot sale of 50,000 pounds at a price of $27.00 per pound.
Production rates at Lost Creek during the quarter were near projected levels as we continued to operate header houses 1 through 12 throughout the quarter and began to see initial production from header house 13 late in the quarter. As scheduled, the thirteenth and final originally-planned header house in Mine Unit 1 (MU1) was brought online late in May. The header house, and its related patterns of production wells, includes certain refinements in design and well completion techniques in an effort to increase injectivity for even greater well performance. Although many analyses are ongoing, results of HH 13’s first month of operation are thus far validating these refinements. Permitting of the Class V water treatment systems continues with the goal to enhance waste water capacities. We expect permitting to be completed in the third quarter. In addition, routine plant and wellfield maintenance continued as scheduled. While lower than the previous quarter, plant head grades from MU1 header houses continue to be significantly higher than originally projected. The decrease is related to normal projected declines as well as the addition of new production fluid from HH 13. Grades from HH 13 have subsequently risen to 88 mg/l.

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