Ur-Energy Inc. (USA) (NYSEMKT:URG) 4Q Results Report First Revenue


Dallas, Texas 03/10/2014 (FINANCIALSTRENDS) – Ur-Energy Inc. (USA) (NYSEMKT:URG) disclosed on 3rd March that it has filed its 4Q and full year earnings report to the U.S. Securities and Exchange Commission as per mandate. The uranium mining firm reported that in the full year operations for 2013, a total of 190,365 pounds of Uranium had been extracted and stored from its Lost Creek Mining property.

 A total of 131216 pounds out of the recovery had been placed in drums and stored, while the reminder 94,817 pounds has been transported to the processing plant. The firm also managed to sell a total of 90,000 pounds to its customers who have entered into long term strategic agreements with the firm. The company was thus able to realize per pound, cash cost of $21.98 which was lower than expected due to the production commencement only towards the middle part of 4Q13.

Expressing his happiness at the pace at which the company is moving towards full fledged production, Ur-Energy Inc. (USA) (NYSEMKT:URG)  Chief Executive Officer and President Wayne Heili has been quoted to have said that, “We are emerging from a significant and transformative year for the Company. The start of production at our state-of-the-art Lost Creek Project places us as the world’s newest uranium producer. Our strong production results in the fourth quarter demonstrate the quality of the project we have developed and the ability of our staff to continuously deliver positive outcomes for the Company.”

He also went on to add that the impending completion of the recently announced leveraged buyout of the Pathfinder Mines will further help the firm chart a more aggressive growth path. The firm also realized the first revenue from its operations in December from the sale of Uranium to its customers. On the back of these announcements, the stock has posted a 4 percent increase in valuation during trading in the intervening 5 day period.

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