Ur-Energy(URG) - 2025 Q1 - Quarterly Results

Production and Sales Performance - In 2024, Ur-Energy captured approximately 265,746 pounds of U3O8, a significant increase from 103,487 pounds in 2023, representing a 156% growth[5] - Ur-Energy's total sales in 2024 reached $33.706 million, a substantial increase from$17.679 million in 2023, marking a growth of 90%[15] - The company plans to deliver 440,000 pounds of U3O8 in 2025, generating approximately $27.1 million in sales proceeds[19] - The cost of sales in 2024 was$42.679 million, compared to $19.365 million in 2023, resulting in a significant increase of 121$58.15, down from $61.89 in 2023, resulting in an average loss per pound sold of$6.19 in 2024 compared to a profit of $30.90 in 2023[10] Financial Performance - The company reported a gross loss of$8.973 million in 2024, compared to a gross loss of $1.686 million in 2023, indicating a deterioration in financial performance[15] - Ur-Energy's comprehensive loss for 2024 was$52.718 million, compared to a comprehensive loss of $31.203 million in 2023, reflecting a worsening financial situation[15] - As of December 31, 2024, Ur-Energy had cash resources of$76.1 million, up from $59.7 million at the end of 2023, reflecting a 27% increase[6] Project Development and Operations - Construction at the Shirley Basin mine is on schedule, with an anticipated annual mine/mill capacity increase to 2.2 million pounds of U3O8[3] - The company has received all major permits to begin construction at the Shirley Basin facility, with a 'go' decision made for March 2024[28] - Ur-Energy is awaiting remaining regulatory authorization for the expansion of the Lost Creek facility[28] - Ur-Energy has produced and shipped approximately 2.8 million pounds of U3O8 from the Lost Creek facility since operations began[28] Market and Trading Information - The primary trading market for Ur-Energy's common shares is on the NYSE American under the symbol "URG" and also trades on the Toronto Stock Exchange under "URE"[28] Risks and Forward-Looking Statements - Ur-Energy's management acknowledges various risks and uncertainties that could impact future performance, including capital costs and commodity price fluctuations[31] - The company emphasizes the importance of obtaining necessary governmental and environmental approvals for project developments[31] - Forward-looking statements made by Ur-Energy are based on current expectations and involve significant business and economic risks[29] - The company has plans to restart exploration programs, although results remain uncertain[29] - Ur-Energy disclaims any obligation to update forward-looking statements based on changes in management's beliefs or circumstances[30]