Slide 1: Ur-Energy 2015 Year End Teleconference and Webcast
NYSE MKT: URG • TSX: URE Ur - Energy 2015 Year End Teleconference and Webcast
Slide 2: Forward-looking statements
NYSE MKT: URG • TSX: URE This presentation contains “forward - looking statements,” within the meaning of applicable securities laws, regarding events or conditions that may occur in the future . Such statements include without limitation the Company’s ability to maintain steady - state operations ;
Slide 3: 2015 highlights: Lost Creek, resource growth, Shirley Basin
NYSE MKT: URG • TSX: URE 3 See Disclaimer re Forward - looking Statements and Projections (slide 2) ▪ Lost Creek ISR Uranium Facility Initiated Production 3Q 2013 • Produced 1,000,000 th pound of U 3 0 8 2Q 2015 • State of the art flagship project • Results demonstrate that Lost Creek is a reliable,
Slide 4: Share Capital & Cash Position
NYSE MKT: URG • TSX: URE 4 Share Capital & Cash Position As of 12/31/2015 Shares Outstanding 130.2M Stock Options & RSUs 11.1M Warrants 8.2M Fully Diluted 149.5M Shares Outstanding (2/25/16) 143.3M Cash (2/25/2016) US$6.8M Market Cap ( 2/29/2016 ) US$63.18M Share Price (2/29/2016) US$0.47 52 Week Ra
Slide 5: Long-term sales contracts
NYSE MKT: URG • TSX: URE ▪ Multiple long - term contracts spanning 2013 - 2021 timeframe, post Fukushima • ~3.1M lbs committed 2016 – 2021 (avg. price $49.81/ lb ) ▪ De - risking by securing future revenue stream in an uncertain market • 2015 : 630,000 lbs U 3 O 8 at avg. price of $49.42/ lb - $31.1
Slide 6: Mine unit drilling and construction status
NYSE MKT: URG • TSX: URE 6 Field work minimized during winter months to optimize efficiency. Mine Unit 1 Interior of Header House Drill Mapping Drilling Status ▪ MU1 - 100% of original planned wells installed ▪ MU2 - Production well installation ongoing in first 3 header houses Mine Unit Constructio
Slide 7: Lost Creek Plant production by quarter
NYSE MKT: URG • TSX: URE 7 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Captured Lbs. 192k 207k 172k 212k 784k Drummed Lbs. 177k 184k 177k 189k 727k Shipped Lbs. 172k 180k 184k 182k 717k HHs Operating 9 10 11 12 12 Avg. Grade 110 ppm 108 ppm 86 ppm 85 ppm 97 ppm U 3 O 8 Production ▪ All plant systems functi
Slide 8: Production and revenues 2013-2015
NYSE MKT: URG • TSX: URE 8 2013 2014 2015 Lbs U 3 O 8 Captured 190K 596K 784K Lbs U 3 O 8 Drummed 131K 548K 727K Cash Cost* $21.98/ lb $19.73/ lb $16.27/ lb Production 2013 2014 2015 Revenues ( U 3 O 8 ) $5.7 million $26.5 million $41.8 million Sales 90K lbs at $62.92/ lb 518K lbs at $51.22/ lb 925K
Slide 9: Lost Creek Property resource increase
NYSE MKT: URG • TSX: URE ▪ In 2015, Ur - Energy substantially increased Lost Creek Property resources by adding 4.6 million lbs. of Measured & I ndicated (M&I) Resources and 1.7 million lbs. of Inferred Resources • June 17, 2015 43 - 101 Technical Report disclosed an additional 1.5 million lbs. of n
Slide 10: Lost Creek PEA summary of economics
NYSE MKT: URG • TSX: URE Economic Parameter Pre - Income Tax LoM OPEX $14.58 Total Cost per Pound $29.29 Production 13.8 million lbs. Net Cash Flow $510.9 million NPV (8%) $250.4 million IRR 53.7% 1. Based on drilling results of 138 pattern wells and 42 monitor wells and delineation drill holes from
Slide 11: Shirley Basin PEA and permitting
NYSE MKT: URG • TSX: URE ▪ Preliminary Economic Assessment analyses (pre - income tax): • 8.8 million pounds, shallow, high grade roll front deposit • Production of 6.3 million lbs. • Estimated operating cost of $14.54/lb. • Estimated total cost per pound of $31.26/lb. • NPV (8%) of $146.0 million,
Slide 12: Inventory cost per pound by quarter
NYSE MKT: URG • TSX: URE 12 ▪ Total Cost per Pound down $4.20, or 14%, in Q4 ▪ Cash Cost per Pound down $1.11, or 7% in Q4 $6.27 $3.43 $2.30 $2.99 $2.66 $19.21 $16.73 $15.48 $16.50 $15.39 $13.66 $11.21 $9.59 $9.94 $7.18 117,160 177,057 183,858 176,850 189,480 - 20,000 40,000 60,000 80,000 100,000 12
Slide 13: Inventory cost per pound by year
NYSE MKT: URG • TSX: URE 13 ▪ Total Cost per Pound down $13.91, or 36%, in 2015 ▪ Cash Cost per Pound down $3.82, or 20%, in 2015 $3.59 $6.27 $2.66 $21.98 $19.21 $15.39 $9.29 $13.66 $7.18 131,216 547,992 727,245 - 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 $- $5.00 $10.00 $15.00
Slide 14: Cost per pound sold by quarter
NYSE MKT: URG • TSX: URE 14 ▪ Total Cost per Pound falling quarter - over - quarter (Q1 $36.91, Q2 $28.98, Q3 $27.87, Q4 $26.35) ▪ All - in costs below $30 $3.18 $4.73 $2.78 $2.59 $2.80 $20.32 $18.86 $16.15 $15.19 $15.42 $13.47 $13.32 $10.05 $10.09 $8.13 $37.13 $38.36 $36.17 $36.21 $35.45 $66.03 $50
Slide 15: Cost per pound sold by year
NYSE MKT: URG • TSX: URE 15 ▪ Total Cost per Pound down $4.96, or 14%, in 2015 ▪ Cash Cost per Pound down, $3.46, or 18%, in 2015 $7.58 $2.48 $3.14 $21.98 $19.73 $16.27 $12.41 $12.28 $10.12 $38.17 $33.21 $36.55 $62.92 $51.22 $45.20 $- $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 $70.00 2013 2014 2015 $
Slide 16: Ending inventory by quarter
NYSE MKT: URG • TSX: URE 16 Increasing operational efficiencies (steady state) permits ▪ B uilding inventory ▪ D iscretionary spot sales ▪ Low cash cost per pound in ending inventory (Q4 $15.39 vs. Q3 $16.50) 65,233 79,284 79,036 71,860 88,788 15,188 25,819 30,006 22,455 30,367 56,259 82,021 66,314
Slide 17: Ending inventory by year
NYSE MKT: URG • TSX: URE 17 ▪ Building inventory year - on - year ▪ Cost per Pound down $13.91, or 36%, in 2015 59,149 65,233 88,788 36,389 15,188 30,367 4,827 56,259 63,776 $34.86 $39.14 $25.23 $- $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 $45.00 - 20,000 40,000 60,000 80,000 100,000 12
Slide 18: 2016 corporate priorities
NYSE MKT: URG • TSX: URE ▪ Continued focus to attain company - wide cost savings ▪ Long - term s ales a greements • Multiple contracts t hrough 2021 • Very selective as to pricing that we will accept ▪ Demonstrated Production Profile Growth • Lost Creek resources increased by 53% M&I and 36% Inferre
Slide 19: For more information, please contact
NYSE MKT: URG • TSX: URE For more information, please contact: Jeff Klenda , Chairman & Executive Director Rich Boberg , Senior Director of Investor and Public Relations By Mail: Ur - Energy Corporate Office 10758 W. Centennial Rd., Suite 200 Littleton, CO 80127 USA By Phone: Office 720.981.4588 Tol