LITTLETON, Colo., Oct. 26, 2018 /PRNewswire/ -- Ur‐Energy Inc. (NYSE American:URG) (TSX:URE) ("Ur‐Energy" or the "Company") has filed the Company's Form 10‐Q for the quarter ended September 30, 2018, with the U.S. Securities and Exchange Commission at www.sec.gov/edgar.shtml and Canadian securities authorities on SEDAR at www.sedar.com.
Ur-Energy Chair and CEO, Jeffrey Klenda said, "Our strategy to limit development and supplement production with cost effective purchases allowed us to again increase our inventory position, which now stands at nearly 330,000 pounds of finished product with a current market value of over $9.0 million. This readily salable inventory, combined with our strong cash position and solid book of 2019 purchase and sale contracts, puts us in an enviable position as we await the outcome of the Section 232 Trade Action process."
Lost Creek Uranium Production and Sales
Inventory, production and sales figures for the Lost Creek Project are presented in the following tables:
Production and Production Costs | Unit | 2018 Q3 | 2018 Q2 | 2018 Q1 | 2017 Q4 | 2018 YTD | ||||||||||||
Pounds captured | lb | 80,604 | 89,209 | 84,047 | 67,982 | 253,860 | ||||||||||||
Ad valorem and severance tax | $000 | $ | 81 | $ | 133 | $ | 179 | $ | 160 | $ | 393 | |||||||
Wellfield cash cost (1) | $000 | $ | 422 | $ | 516 | $ | 671 | $ | 686 | $ | 1,609 | |||||||
Wellfield non-cash cost (2) | $000 | $ | 400 | $ | 400 | $ | 403 | $ | 575 | $ | 1,203 | |||||||
Ad valorem and severance tax per pound captured | $/lb | $ | 1.00 | $ | 1.49 | $ | 2.13 | $ | 2.35 | $ | 1.55 | |||||||
Cash cost per pound captured | $/lb | $ | 5.24 | $ | 5.78 | $ | 7.98 | $ | 10.09 | $ | 6.34 | |||||||
Non-cash cost per pound captured | $/lb | $ | 4.96 | $ | 4.48 | $ | 4.79 | $ | 8.44 | $ | 4.74 | |||||||
Pounds drummed | lb | 78,441 | 74,302 | 79,961 | 60,461 | 232,704 | ||||||||||||
Plant cash cost (3) | $000 | $ | 1,109 | $ | 1,230 | $ | 1,226 | $ | 1,210 | $ | 3,565 | |||||||
Plant non-cash cost (2) | $000 | $ | 485 | $ | 493 | $ | 492 | $ | 493 | $ | 1,470 | |||||||
Cash cost per pound drummed | $/lb | $ | 14.14 | $ | 16.57 | $ | 15.33 | $ | 20.01 | $ | 15.32 | |||||||
Non-cash cost per pound drummed | $/lb | $ | 6.18 | $ | 6.64 | $ | 6.15 | $ | 8.15 | $ | 6.32 | |||||||
Pounds shipped to conversion facility | lb | 72,902 | 74,416 | 73,515 | 73,367 | 220,833 | ||||||||||||
Distribution cash cost (4) | $000 | $ | 36 | $ | 34 | $ | 19 | $ | 48 | $ | 89 | |||||||
Cash cost per pound shipped | $/lb | $ | 0.49 | $ | 0.46 | $ | 0.26 | $ | 0.65 | $ | 0.40 | |||||||
Pounds purchased | lb | - | 100,000 | 370,000 | - | 470,000 | ||||||||||||
Purchase costs | $000 | $ | - | $ | 2,225 | $ | 9,251 | $ | - | $ | 11,476 | |||||||
Cash cost per pound purchased | $/lb | $ | - | $ | 22.25 | $ | 25.00 | $ | - | $ | 24.42 | |||||||
Notes: | |
1 | Wellfield cash costs include all wellfield operating costs. Wellfield construction and development costs, which include wellfield drilling, header houses, pipelines, power lines, roads, fences and disposal wells, are treated as development expense and are not included in wellfield operating costs. |
2 | Non-cash costs include the amortization of the investment in the mineral property acquisition costs and the depreciation of plant equipment, and the depreciation of their related asset retirement obligation costs. The expenses are calculated on a straight-line basis, so the expenses are typically constant for each quarter. The cost per pound from these costs will therefore typically vary based on production levels only. |
3 | Plant cash costs include all plant operating costs and site overhead costs. |
4 | Distribution cash costs include all shipping costs and costs charged by the conversion facility for weighing, sampling, assaying and storing the U3O8 prior to sale. |