Ur-Energy Completes Additional Uranium Agreement
|Littleton, Colorado (PR Newswire – July 3, 2013) Ur-Energy Inc. (TSX:URE, NYSE MKT:URG) (“Ur-Energy” or the “Company”) is pleased to announce that it has entered into a uranium supply agreement with a U.S. based nuclear operating company. The agreement calls for deliveries ranging between 200,000 to 300,000 pounds of uranium concentrate each year in a multi-year schedule commencing in 2017. The average delivery price under the agreement is consistent with the current published Long-Term U3O8 price indicators.The completion of this supply agreement continues the Company’s fulfillment of a marketing strategy developed with the assistance of Mr. Jim Cornell of NuCore Energy, with whom Ur-Energy continues to work. The Company plans to commit a pre-determined portion of the expected uranium production capacity from its Lost Creek Project in long term supply agreements with North American nuclear utilities at prices that will ensure the project’s financial viability.
Ur-Energy CEO Wayne Heili said, “The value of holding supply agreements with fixed pricing structures has been clearly recognized during this ongoing period of softness in the uranium spot market. This supply arrangement is an important component of our overall growth strategy as it contributes to the future financial viability of our U.S. based uranium mining operations.”