Ur-Energy Provides 2016 Q3 Operational Results

- October 13th, 2016

Ur-Energy (NYSEMKT:URG,TSX:URE) provided operational results for Q3 2016 and to advised that the Company will release its third quarter results on October 28, 2016.

Ur-Energy (NYSEMKT:URG,TSX:URE) provided operational results for Q3 2016 and to advised that the Company will release its third quarter results on October 28, 2016.
As quoted in the press release:

Lost Creek Uranium Production and Sales
For the quarter, 141,774 pounds of U3O8 were captured within the Lost Creek plant. 145,893 pounds of U3O8 were packaged in drums and 149,540 pounds of drummed U3O8 inventory were shipped out of the Lost Creek processing plant. At September 30, 2016, inventory at the conversion facility was approximately 84,808 pounds of U3O8. During the quarter, sales totaled $9.5 million with contract sales of 200,000 pounds at an average price of $47.36 per pound. The Company will also recognize $2.6 million of deferred revenue from the first half of the assignment transaction that was completed in 2016 Q1. The second half will be recognized in 2016 Q4.
Production rates at Lost Creek during the quarter were within the projected level of 140,000 to 170,000 dried and drummed pounds. We continued to operate all Mine Unit 1 (MU1) header houses throughout the quarter, including HH 1, which was first brought online in August 2013. The thirteenth and final originally-planned header house in MU1 was brought online late in May. As previously reported, HH 13 and its related patterns of production wells include certain refinements in design and well completion techniques in an effort to increase injectivity for even greater well performance. Results of HH 13’s operations continue to validate these refinements, which are now in the process of being selectively applied to the other twelve header houses within MU1. While leveling off, plant head grades from MU1 header houses continue to be higher than originally projected at this phase of production.
The final general authorization for our Class V water treatment system was received during the quarter. Pre-operational analyses and tests are currently being concluded, after which the final, operational approval will be given to commence use of the treatment and disposal system. We expect operation of the Class V system to commence during fourth quarter. In addition, routine plant and wellfield maintenance continued as scheduled.

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