Ur-Energy Reports Q1 Production & S

Ur-Energy Reports Q1 Production & Sales Results US uranium producer Ur-Energy has reported sales of 33,000 pounds U3O8 at an average price of US$41.52 per pound during the first quarter ended March 31, 2020; the pounds were purchased at an average cost per pound of $24.94, according to results released on April 20. Ur-Energy has reported that 4,113 pounds U3O8 were captured at its Lost Creek Processing Plant in the US State of Wyoming during the first quarter; 1,433 pounds were packaged in drums. The company noted that drumming was limited during the quarter as packaging is conducted only on an as-needed basis. No shipments were made to the conversion facility in the first quarter; as of March 30, 2020, the company's drummed inventory was approximately 268,552 pounds U3O8. Two of the company’s subsidiaries closed on US Small Business Administration Paycheck Protection Program Loans totaling $893,300 pursuant to the Coronavirus Aid, Relief, and Economic Security Act (known as the "CARES Act"). Ur-Energy CEO Jeff Klenda said: “While we are fortunate to report that our workforce remains healthy and fully employed, we cannot overstate the importance of these funds to our ability to retain the highly trained operational staff we have strived so hard to keep onboard."