UR-Energy Releases Q2 Operational Results

Ur‐Energy Inc. (NYSEAmerican:URG,TSX:URE) has released the operational results for Q2 2018. Highlights include quarterly sales of US$3.79 million.

Uranium miner, Ur‐Energy currently operates the Lost Creek in‐situ recovery uranium facility in south‐central Wyoming. To date the company has produced, packaged and shipped approximately 2.4 million pounds from Lost Creek.

As quoted from the press release:

Lost Creek Uranium Production and Sales

For the quarter, 89,209 pounds of U3O8 were captured within the Lost Creek plant, 74,302 pounds of U3O8 were packaged in drums and 74,416 pounds of U3O8 drummed inventory were shipped out of the Lost Creek processing plant. At June 30, 2018, inventory at the conversion facility was approximately 233,712 pounds U3O8.

During the quarter, sales totalled US$3.79 million on 100,000 pounds at an average price of US$37.90 per pound, which was 71 percent above the average spot price for the same period of US$22.13 per pound. The 100,000 pounds were purchased at an average cost of US$22.25 per pound.

During the period, the third of the first three header houses in the second mine unit (MU2) at Lost Creek commenced production. All three of the header houses are exceeding budgeted production expectations. With the addition of MU2 production, both grades and flow levels have continued to increase.

Click here to read the full press release