Business
Ur-Energy Reports Q1 2026 Results and Announces Conference Call and Webcast
CASPER, WY / ACCESS Newswire / May 8, 2026 / Ur-Energy Inc. (NYSE American:URG) (TSX:URE) (the "Company," "Ur-Energy" or "we"), a domestic uranium producer
About this update from Ur-energy Inc.
[{"type":"text","content":" CASPER, WY / ACCESS Newswire / May 8, 2026 / Ur-Energy Inc. (NYSE American:URG) (TSX:URE) (the \"Company,\" \"Ur-Energy\" or \"we\"), a domestic uranium producer with ISR projects that are among the largest and lowest-cost in the United States, is pleased to announce its financial and operational results for the first quarter ended March 31, 2026. The Company will host a conference call and webcast on Monday, May 11. Details are provided below. First Quarter 2026 Financial and Operating Results Lost Creek Operations: Pounds Captured: We captured 110,314 pounds of U₃O₈, a 41% increase over Q4 2025 and a 48% increase over Q1 2025, reflecting improved flow rates following plant modifications and repairs. Production: We dried and packaged 95,599 pounds and shipped 103,956 pounds of U₃O₈. Inventory: We ended the quarter with 417,231 pounds of finished inventory at the conversion facility. This represents a 14% increase over Q4 2025 and a 13% increase over Q1 2025. Financial Performance Contracted Sales: We sold 55,000 produced pounds of U₃O₈ as anticipated, generating $3.9 million in revenue, with a majority of our 2026 deliveries scheduled for the latter part of the year to complement the ramp-up and start-up schedules of Lost Creek and Shirley Basin. Increased U3O8 Sales Price: The average price per pound sold during Q1 2026 of $70.98 was $7.78 higher than Q4 2025, driven by deliveries under contracts negotiated in 2024 that contain a more favorable mix of base-escalated and market-based pricing. Lower Production Costs: The cash cost per pound of U₃O₈ sold was $37.51 in Q1 2026, a decrease of approximately 13% compared to Q4 2025. Looking Ahead: Production Expansion and Advancing Exploration Lost Creek Operations: We drummed 57,479 pounds in April 2026, our highest monthly total since our 2023 ramp up decision. With a sand filtration system expected to come online this quarter and other optimization initiatives underway, we are positioned for improved flow rates and continued momentum. Shirley Basin Operations & Ramp-Up: We commenced operations at our second ISR mining facility in April 2026, reviving a historic uranium district. First shipments of uranium-loaded resin to Lost Creek are expected this summer, subject to final regulatory approval. Great Divide Basin Exploration: We continue to advance exploration projects toward...