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Ur-Energy Provides 2014 Q2 Operational Results
LITTLETON, Colo. , July 16, 2014 /CNW/ --  Ur-Energy Inc. (TSX:URE, NYSE MKT:URG) (...
About this update from Ur-energy Inc.
[{"type":"text","content":"\n\nLITTLETON, Colo., July 16, 2014 /CNW/ -- Ur-Energy Inc. (TSX:URE, NYSE MKT:URG) (\"Ur-Energy\" or the \"Company\") provides the following report of operational results for second quarter 2014.\n\n\nOperational Highlights for Lost Creek\n\n\n\n\n\nUnits\n\n\nQuarter\n\n\nYTD\n\n\n\n\n\n2014 Q1\n\n\n2014 Q2\n\n\n2014\n\n\n\n\n\n\n\n\n\nU3O8 Captured\n\n\n('000 lbs)\n\n\n198.6\n\n\n116.7\n\n\n315.3\n\n\n\nU3O8 Dried & Drummed\n\n\n('000 lbs)\n\n\n171.2\n\n\n133.7\n\n\n304.9\n\n\n\nU3O8 Sold\n\n\n('000 lbs)\n\n\n110.0\n\n\n207.8\n\n\n317.8\n\n\n\n\n\n\n\n\n\nAverage Flow Rate\n\n\n(gpm)\n\n\n1,103\n\n\n803\n\n\n952\n\n\n\nU3O8 Head Grade\n\n\n(mg/l)\n\n\n179\n\n\n152\n\n\n165\n\n\n\nAverage U3O8 Daily Production\n\n\n(lbs/day)\n\n\n2,206\n\n\n1,282\n\n\n1,742\n\nLost Creek Uranium Production and SalesDuring Q2 2014, production rates at the Lost Creek Project were controlled at levels that allowed the Company to fulfill its contractual sales requirements without participating in the uranium spot market.  The quarter featured further increased levels of product sales at 208,000 pounds U3O8.  The product was sold to our customer(s) under contractual terms at an average price of $34.64 per pound, which represents a premium to the average spot market price during the quarter of approximately 20%.  Quarterly product sales revenues totaled US$7.2 million.\n\nProduction flow was sourced from five header houses in the first mine unit.  No new production areas were required or activated during the quarter.  Plant head grades continued to be significantly higher than projected while production flow rates were deliberately curtailed.  As previously reported, the production flow was controlled at a lower rate than budgeted during April to effectively manage the processing rate, while plant and auxiliary system commissioning continued and operational issues were addressed.  For the quarter, 116,707 pounds of U3O8 were captured within the Lost Creek plant.  Product inventory levels were drawn down as 133,685 pounds U3O8 were packaged in drums and 163,748 pounds U3O8 of drummed inventory were shipped from Lost Creek. \n\nGuidance for Second Half of 2014As announced by the Company on May 22, 2014, Ur-Energy has secured sales commitments of approximately 518,000 pounds U3O8 at an average sales pric...