Ur-Energy Provides 2023 Q4/YE Operations Update; Captured ~103,487 Pounds U3O8; 68,448 pounds U3O8 Captured In Q4
Portfolio Pulse from Benzinga Newsdesk
Ur-Energy Inc. reported its 2023 Q4 and year-end operations update, highlighting the capture of approximately 103,487 pounds of U3O8, with 68,448 pounds captured in Q4 alone. The company ramped up operations at Lost Creek, leading to the operation of new header houses in Mine Unit 2. The average production grade for Q4 was 93.9 mg/l. Ur-Energy sold 280,000 pounds of U3O8 from inventory for $17.3 million in 2023 and ended the year with $59.7 million in cash and cash equivalents. The company has sales projections of 570,000 pounds of U3O8 for 2024, fulfilling contracts established in 2022 at prices below $60 per pound.
January 29, 2024 | 10:20 pm
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Ur-Energy Inc. reported strong production and sales figures for 2023, with significant ramp-up in operations and a healthy cash position at year-end. The company is poised to meet its 2024 sales commitments from existing inventory and new production.
The positive operations update from Ur-Energy, including the ramp-up in production and the healthy cash position, is likely to instill investor confidence and could lead to a positive short-term impact on the stock price. The company's ability to meet future sales commitments also suggests operational efficiency and financial stability, which are positive indicators for investors.
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