Ur-Energy (NYSE: URG) (TSX: URE) is a junior uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. The Lost Creek processing facility has a two million pounds per year nameplate capacity with a one million pound annual rate planned from the mining areas at Lost Creek. Ur-Energy engages in the identification, acquisition, exploration development, and operation of uranium projects. SNNLive spoke with Jeffrey Klenda from UR-Energy at the New Orleans Investment Conference 2014.
Mr. Klenda begins with an overview of the company, “We are a producer of uranium. We’ve been in production now for about a year and a half and it took us a long time to get here, it was a rigorous permitting and licensing process but after ten years of struggle we’ve been able to emerge as one of the lowest-cost producers in the world and despite the fact that uranium is a very challenging place to be right now, we’ve emerged as one of the cash-flow positive stories out there in the space and that’s saying something.”
Mining companies, much like real estate, is all about location, location, location. Obtaining permits and jurisdiction to mine resources in the United States is not an easy task and has become increasingly challenging over the past few decades. One of Ur-Energy’s many flagship uranium facilities is the “Lost Creek Project” located in Wyoming, which is producing “thirteen and a half million pounds all in measured, indicated and inferred. Mr. Klenda states that Ur-Energy is comprised of “a pipeline of projects. What [they] like to target are ten million pound plus projects, [they] feel that those are gonna give [them] the best shot at scalability and favorable economics.”
Mr. Klenda is very optimistic about the growth of uranium production and use not just in the United States, but the rest of the world. He believes the real growth in uranium will take place in foreign countries such as Russia, China and India. According to Mr. Klenda, “Here in the United States, only about 10 percent of what we consume on an annual basis is actually produced in the United Sates, that is a very strategic problem and we think it’s going to morph into something of a national security issue in the years to come.” For more information, check out their website: www.Ur-Energy.com
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