Impact: Positive
Ur-Energy (URE) released results from the Phase 1 testing program of patented well installation technology at its operating, 100%-owned Lost Creek in-situ recovery (ISR) uranium facility in Wyoming. The new wellfield equipment and methodologies could improve costs in a profound way, and we speculate that these results could even spur URE to go back to change mine plans in a material way upon successful Phase 2 testing. We note that URE is already known for being the lowest cost uranium producer in the USA. Management ultimately believes that its new technology could be implemented across the mining industry, not just in uranium but in copper, lithium, soda ash, potash and other minerals. Ur-Energy is currently focused on advancing its Lost Creek ISR uranium facility and second uranium project, Shirley Basin, both located in Wyoming. It is also in the process of obtaining amendments for expansion at Lost Creek and has all the major permits to begin construction at Shirley Basin.
