Ur-Energy Reports $3.9M Q1 Revenue, Production Ramp at Lost Creek and Shirley Basin Start

Ur-Energy reported revenue of $3.9 million for Q1 2026 driven by 55,000 pounds of U3O8 sold at an average price of $70.98 per pound. The company recorded a U3O8 product profit (produced) of $1.217 million for the quarter and reported unrestricted cash of $122.8 million at March 31, 2026 ( $107.5 million at April 30). Operationally, Lost Creek production improved and Shirley Basin commenced initial operations in April 2026.Financial HighlightsRevenue: $3.9 million in Q1 2026 from 55,000 produced pounds of U3O8 sold at an average price of $70.98 per pound.U3O8 product profit (produced): $1.217 million for Q1 2026 (as presented in product P&L table).U3O8 price improvement: Average sales price up to $70.98 in Q1 2026, $7.78 higher than Q4 2025.Cash position: Unrestricted cash and cash equivalents of $122.8 million at March 31, 2026; $107.5 million as of April 30, 2026.Business HighlightsLost Creek ramp-up: Pounds captured increased to 110,314 in Q1 2026 (up 41% vs. Q4 2025) following plant modifications and repairs; drummed 95,599 pounds and shipped 103,956 pounds in the quarter.Processing optimizations: Sand filtration system expected online in Q2 2026 and ongoing initiatives to improve flow rates and fine-particle management, plus water treatment development to reduce wastewater.Shirley Basin start-up: Initial operations commenced April 2026 with uranium-bearing solution captured on resin; first shipments of uranium-loaded resin to Lost Creek expected this summer, subject to final regulatory approval.Exploration progress: North Hadsell identified 13 ore-grade intercepts; aquifer testing started at Lost Soldier in April 2026; a ~120-hole drill program planned at LC South for summer 2026.Inventory and capacity: Finished conversion facility inventory at quarter-end was 417,231 pounds; combined licensed annual production and toll processing capacity for Lost Creek and Shirley Basin totals 4.2 million pounds U3O8.Original SEC Filing: UR-ENERGY INC [ URG ] - 8-K - May. 11, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.