Ur-Energy Receives Final WDEQ Authorization to Transport Uranium-Loaded Resin from Shirley Basin to Lost Creek

Ur-Energy Inc. (URE) has received final authorization from the Wyoming Department of Environmental Quality (WDEQ) to transition its Shirley Basin ISR project from limited operations to full-scale production. The approval specifically permits the transport of uranium-loaded resin from Shirley Basin to the company's existing Lost Creek processing facility.

Uranium recovery at Shirley Basin began in April 2026, with approximately 10,500 pounds of uranium loaded onto resin to date. Shipments of loaded resin to Lost Creek are scheduled to commence in the coming weeks as wellfield flow rates are increased to full commercial levels. This integration leverages Lost Creek's established elution, precipitation, drying, and drumming infrastructure, avoiding duplicative capital expenditure.

The combined licensed annual production and toll-processing capacity for Lost Creek and Shirley Basin is 4.2 million pounds of U3O8. Lost Creek has produced over 3.5 million pounds of U3O8 since operations began in 2013.

Ur-Energy Inc. (URE) has secured a necessary regulatory milestone that unlocks the next phase of production at its Shirley Basin mine. The approval does not introduce new financial guidance, alter cost structures, or change the production profile beyond what was already telegraphed for summer 2026.

The market has already priced in the April 2026 operational start and the Q1 2026 production and cost metrics. The stock has traded in a $1.86–$2.90 range over the past month, reflecting the transition from development to early production. While the approval removes a permitting overhang, it does not guarantee immediate volume uplift, as resin shipments and full commercial flow rates are still ramping.

Ur-Energy Inc. (URE) is a North American uranium producer that operates exclusively via In-Situ Recovery (ISR) in Wyoming. Its flagship asset is the Lost Creek ISR facility, which has been operational since 2013 and holds a 12+ year production track record. The facility boasts a 1.2M lbs annual mine capacity and a 2.2M lbs annual plant capacity.

The company’s growth asset is the Shirley Basin ISR project, which commenced initial operations in April 2026. It features a 1.4M lbs annual mine capacity and integrates with Lost Creek for final processing, drying, and drumming. Additionally, Ur-Energy maintains an exploration pipeline consisting of the Lost Soldier, North Hadsell, and Lost Creek South projects in the Great Divide Basin, leveraging proximity to existing infrastructure and operating expertise.

The company’s business model relies on low-capex ISR extraction, integrated processing, and long-term utility sales agreements covering 5.75M lbs through 2033.