- Ur-Energy (TSX:URE) has revised its production guidance for 2024 after updates on its Lost Creek Mine operations and Shirley Basin Construction
- Five header houses are expected to come online at Lost Creek
- Production guidance has been revised to a range of 325,000 to 475,000 pounds of uranium captured.
- Meanwhile, installation of the monitor wells for the first mine unit at Shirley Basin is on schedule with 120 of the 120 planned wells piloted and cased
- Shares of Ur-Energy are up 2.56 per cent to C$1.60 as of 3:57 pm ET
Ur-Energy (TSX:URE) has revised its production guidance for 2024 after updates on its Lost Creek Mine operations and Shirley Basin Construction.
The company stated in a news release that as ramp-up continues, five header houses are expected to come online at Lost Creek in 2024, with the most recent coming online in mid-August.
The next header house is expected to come online later in September, while the fifth shipment of yellowcake this year arrived at the conversion facility on Sept. 11. The next shipment of dried product is slated for late September.
“As we are able to grow the space between wellfield construction and drilling, we plan to ultimately redirect some of the drill rigs to exploration projects within the Great Divide Basin with the goal of replacing mined pounds with new uranium resources,” the company stated in the news release.
Except for the month of June, Ur-Energy has increased the pounds captured in the processing plant every month so far in 2024. Although ramp-up has been slow, it continues moving in the right direction. As such, the company has revised its 2024 production guidance to fall between 325,000 and 475,000 pounds of uranium at Lost Creek.
Over at the Shirley Basin, installation of the monitor wells for the first mine unit is on schedule with 120 of the 120 planned wells piloted and cased. Ur-Energy stated it has three drill rigs working at Shirley Basin that will be redeployed to Lost Creek when work is completed.
“We continue to expect construction at Shirley Basin to be complete in late 2025 with a pre-operations inspection by the State of Wyoming following soon after,” Ur-Energy’s news release stated.
Ur-Energy is a uranium mining company operating the Lost Creek in situ recovery uranium facility in south-central Wyoming.
Shares of Ur-Energy Inc. (TSX:URE) are up 2.56 per cent to C$1.60 as of 3:57 pm ET.
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