Ur-Energy reported second quarter 2026 revenue that met analyst expectations, driven by record production at Lost Creek and the commencement of operations at Shirley Basin. The company achieved a quarterly production record for drumming and secured final state regulatory approval to transition Shirley Basin into full production operations, utilizing a hub-and-spoke model with Lost Creek.
Key Highlights
- Processed and packaged 140,873 pounds of U3O8 during the quarter, a 47.4% increase over the first quarter of 2026 and the highest since the Lost Creek ramp-up began.
- Captured 10,634 pounds of U3O8 at the Shirley Basin plant during limited initial operations, with full production transportation to Lost Creek authorized in late June.
- Maintained low-cost production with a cash cost of $40.20 per pound sold, while ending the quarter with a robust unrestricted cash position of $95.3 million.
- Advanced near-mine exploration with plans for a 120-hole drilling program at Lost Creek South and baseline environmental studies at the Lost Soldier satellite project.