The company said, “During 2025 Q1, we dried and packaged 83,066 pounds and shipped 106,301 pounds U3O8. At quarter end, our in-process inventory at Lost Creek was approximately 29,700 pounds, our drummed inventory at Lost Creek was 10,772 pounds, and our finished inventory at the conversion facility was 368,540 pounds. Our next shipment of product is scheduled for next week and we currently have 57 drums of product on the ground at Lost Creek. We are pleased to report that the wellfield flow rate has increased by 44% since the beginning of March 2025 and is now routinely over 2,700 gallons per minute. Additional flow increases are expected throughout the summer as our current fleet of 19 contract drill rigs and Company construction staff bring on additional header houses and enhance flow in existing wells through routine maintenance and improvements. Head grade remains on target and our annualized production rate over the past week averaged over 400,000 pounds and remains on a positive trend. For context, our 2025 delivery commitment to our customers is 440,000 pounds of U3O8 and the repayment of a 250,000-pound U3O8 loan in the form of physical pounds, although repayment of this loan may be deferred upon agreement with the lender. We expect production rates to steadily increase throughout the summer. The recovery rate in the processing plant has reached design levels as management of the elution circuit has improved, resulting in tail grade on the ion exchange columns commonly being less than three milligrams per liter. The elution and precipitation circuits are now functioning as designed. Both filter presses are operational, and we plan to upgrade the auger in each of the presses in early May, which should further improve throughput. Both rotary vacuum dryers are now operating and performing as designed. Our safety performance has improved over the past several months with no recordable injury or illness incidents occurring in 2025. Implementation of a behavioral based safety program to proactively address and track potential safety issues has resulted in an improved safety culture and has increased employee participation in Company safety initiatives. The recent improvements in performance and safety are attributable to several factors of which we believe the most important are growing employee skills and confidence and achieving higher employee retention rates. Our increased number of drill rigs together with mild winter conditions have also contributed to increased output. Our objectives for Lost Creek for the remainder of 2025 are to continue to safely ramp up the wellfield flow rate and improve plant efficiencies by focusing on training, employee retention, and improved maintenance.”
Ur-Energy ships 106,301 lbs. of U3O8 in Q1
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