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SGQ 0.400 +5.3% GMX 1.87 −1.6% ALM 0.310 +0.0% WCU 0.010 +0.0% NTH 0.155 −6.1% GGM 0.035 +0.0% FG 0.035 +0.0% EFR 17.76 −4.5% IVN 10.51 −2.5% MASS 0.090 +0.0% LIF 26.57 −2.3% CPAU 0.155 +0.0% PTX 0.105 −4.5% VENT 0.160 +0.0% ANK 0.278 −4.3% ODV 3.38 +0.3% SGQ 0.400 +5.3% GMX 1.87 −1.6% ALM 0.310 +0.0% WCU 0.010 +0.0% NTH 0.155 −6.1% GGM 0.035 +0.0% FG 0.035 +0.0% EFR 17.76 −4.5% IVN 10.51 −2.5% MASS 0.090 +0.0% LIF 26.57 −2.3% CPAU 0.155 +0.0% PTX 0.105 −4.5% VENT 0.160 +0.0% ANK 0.278 −4.3% ODV 3.38 +0.3%
Drill Results Routine +

Ur-Energy Reports Year-End 2025 Results and Announces Conference Call and Webcast

By The Northwire Desk — AI Analysis Mar 10, 2026 · 17:30 URE · 2.08 Ur-Energy Inc.
URE · Price

Executive Summary

  • Ur‑Energy filed its FY 2025 Form 10‑K, reporting a net loss of $74.9 M for the year and a decline in revenue to $27.2 M versus $33.7 M in 2024.
  • Production at Lost Creek increased 65% YoY (410,440 lb drummed vs. 249,209 lb), with average cash cost falling to $42.89 per lb and average price rising to $63.20 per lb.
  • The company closed a $120 M private placement of 4.75% convertible senior notes due 2031 (plus an additional $20 M option exercised) and received $28.7 M from warrant exercises in early‑2026.

Key Details

  • Financial Highlights
  • Cash & cash equivalents: $123.9 M at 12/31/2025 (up $47.8 M YoY); $115.3 M as of 3/4/2026.
  • Net loss FY 2025: $(74,898) K; diluted EPS: $(0.20).

  • Operating loss FY 2025: $(69,380) K (vs. $(63,089) K in 2024).

  • Production & Cost Metrics

  • Lost Creek U₃O₈ drummed: 410,440 lb (↑65% YoY).
  • Inventory end‑2025: 406,089 lb (vs. 335,327 lb end‑2024).
  • Average price per lb sold FY 2025: $63.20; cash cost per lb: $42.89.

  • U₃O₈ profit margin (cash cost basis) improved to 34.5% from 37.6% in 2024.

  • Financing Activity

  • December 2025 private placement: $120 M aggregate principal amount of 4.75% convertible senior notes due 2031; initial purchasers exercised full $20 M over‑allotment option.

  • February 2026 warrant exercises: 24,684,999 warrants for 12,342,499 common shares at $1.50 per share → $18.5 M proceeds (total 2026 warrant proceeds $28.7 M).

  • Resource Expansion

  • Updated Lost Creek Technical Report (dated 9 Mar 2026) shows Measured & Indicated resources of 21.0 M lb U₃O₈ and Inferred resources of 10.4 M lb as of 31 Dec 2025.

  • Mine life at Lost Creek extended by ~3 years based on revised resource estimate.

  • Exploration Updates

  • Lost Soldier Project: Aquifer test wells installed; testing to begin Mar 2026, followed by baseline environmental studies.
  • North Hadsell: 32 of 50 planned drill holes completed; 13 intercepts >0.20 GT (cut‑off).

  • LC South Project: Planned 120‑hole program slated for summer 2026.

  • Shirley Basin Progress

  • All ion‑exchange columns installed; 469 wells pilot‑drilled in Mine Unit 1 (as of Feb 2026) with eight active rigs.

  • Header House 1‑1 ready pending Wyoming DEQ approval; anticipated start of injection/recovery and resin transport to Lost Creek in summer 2026.

  • Workforce

  • Full‑time employees increased to 157 at year‑end 2025 (↑55% YoY).

  • Conference Call

  • FY 2025 results webcast on 11 Mar 2026, 3:00 PM ET / 1:00 PM MT.

Notable Quotes

“2025 reflected strong execution across our operating and development portfolio… We are well positioned to drive production growth and long‑term value in 2026 and beyond.” – Matt Gili, President & CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the release.

Read the original news release →

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Drill Results