Ur-Energy Inc.
Ur-Energy operates the Lost Creek ISR uranium facility in south-central Wyoming (producing since 2013) and brought its second ISR facility, Shirley Basin, into operation in April 2026. Cash of US$172.04 million and debt of US$120.83 million (the latter consistent with a US$120M convertible note financing closed Dec 2025) leave a modest positive net cash position.
Notable vs. Peers
- Financials score of 4/10 is weaker than the peer average of 5.7/10.
- Trading within 0% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Oct 2012 · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Aug 2013 · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: tailings facility.
Combined view across 2 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 65.7%Lost Creek ISR Project
- 13.5 yrsLost Creek ISR Project
Jurisdiction (40%)9/10
Wyoming: Fraser PPI 2024 is 93.25 of 100 (rank 5 of 82; not rated in the 2025 survey), which maps to 9 on this site's scale. Wyoming ISR uranium operations sit within one of the most established, mining-friendly US states, with a long precedent of both state and NRC-delegated ISR permitting.
Infrastructure (40%)8.6/10
A confirmed mill, confirmed road access, confirmed grid power, and no confirmed tailings facility at Lost Creek & Shirley Basin ISR Uranium Projects, Wyoming.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Smith Ranch-Highland (ISR) (Cameco Corporation), 219 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score:8.1/10
enCore Energy Corp holds 5.7% (reported 8 Apr 2026) See holders
An operating producer's stake scores 8 at 5%, rising to 10 at 20% (the take-over-bid threshold) and holding there up to 50%.
Weight 25% · 34% here - Distance to a producing mineSub-score:0/10
Nearest producing mine: Smith Ranch-Highland (ISR) (Cameco Corporation), 219 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 31% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 20% here - JurisdictionSub-score:9/10
United States: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 9% here - CommoditySub-score:4/10
Primary commodity: Uranium
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 6% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President, Chief Executive Officer and Director of Ur-Energy Inc., having joined the company in June 2025 as President and been appointed Chief Executive Officer and a director in December 2025, and a Non-Executive Director of American Rare Earths Limited (ASX: ARR). (P.Eng) Mining executive, based in Wyoming, with more than two decades of senior leadership and operational experience across several publicly traded mining companies. Previously President and Chief Operating Officer of i-80 Gold Corporation and Chief Executive Officer of Nevada Copper Corporation. At Barrick served as Executive General Manager of the Cortez District before promotion to Chief Technical Officer with strategic oversight of global technical functions, and at Rio Tinto held positions including Managing Director of the Palabora Mining Company in South Africa and Chief Operating Officer of Oyu Tolgoi in Mongolia. Has served as Chairman of the Palabora Foundation and of the Mongolian Safety Association. BSc in Mining Engineering, University of Idaho.
Chief Financial Officer and Chief Administrative Officer of Ur-Energy Inc. (CPA, MBA, CGMA) 35 years of mining and manufacturing experience including finance, accounting, IT, ERP and systems implementations, mergers, acquisitions, audit, tax, and public and private reporting in international environments. Served as Ur-Energy's Chief Financial Officer and Vice President Finance, IT and Administration until May 2011, when he assumed the additional title and responsibilities of Chief Administrative Officer; joined the company in May 2007 after serving as Vice President, Finance for Luzenac America, Inc. and Director of Financial Planning and Analysis for Rio Tinto Minerals from September 2000 to May 2007. Has also held Vice President Finance, Corporate Controller, Accounting Manager and Internal Auditor positions with Vista Gold Corporation, Westmont Gold Inc. and Homestake Mining Corporation. MBA and BA in Accounting, Western State Colorado University.
Chief Operating Officer of Ur-Energy Inc., named to the role in October 2022. Had served as Vice President Operations for the company since 2011, and prior to that was Ur-Energy's Engineering Manager from 2007 to 2010 and Director of Engineering and Operations from 2010 to 2011. More than 30 years of experience in uranium production with a strong background in in situ recovery uranium design and operations, previously working as a Project Engineer for Power Resources, Inc., Manager, Wellfield Operations for Rio Algom Mining Corp., and Operations Manager at Cameco's Smith Ranch-Highland Facility. BSc in Petroleum Engineering, Texas Tech University.
General Counsel and Corporate Secretary of Ur-Energy Inc., having joined the company in January 2026. (JD) More than 25 years of diverse legal, executive and business experience. In private practice from 1999 to 2009, including nine years at a prominent Denver law firm representing mining and energy clients on billions of dollars of transactions, then from 2009 to 2012 senior corporate counsel for the US subsidiary of an international oil and gas company. From 2017 until joining Ur-Energy was Executive Director of The Foundation for Natural Resources and Energy Law (formerly the Rocky Mountain Mineral Law Foundation), and from 2012 to 2017 an associate professor of law at the University of New Mexico School of Law teaching natural resources, property and business law. Before law school was a public accountant for three years at KPMG. JD, University of Virginia School of Law; BSBA in Accounting, Georgetown University.
Vice President Regulatory Affairs of Ur-Energy Inc., having joined the company in March 2024. (MSc) Prior to joining Ur-Energy held numerous management positions, most recently at Fluor/Idaho Environmental Coalition, contractors to the US Department of Energy, at the Idaho Cleanup Project, and has held several positions in the uranium recovery industry gaining expertise in regulatory relations and compliance, licensing, and environmental health and safety. As Wyoming Uranium Recovery Program Manager from 2015 to 2020 he was critical in assisting Wyoming to become the 38th US Nuclear Regulatory Commission Agreement State, the first ever partial agreement for material solely at uranium recovery operations. BS in Environmental Science, Brigham Young University; MSc in Health Physics, Idaho State University; Certified Health Physicist.
Vice President, Finance of Ur-Energy Inc., having joined the company in September 2025. (CPA, MSc) Certified Public Accountant with nearly 30 years of experience, most recently an audit partner with PricewaterhouseCoopers LLP from 2011 to 2024, having begun his career there in 1996 and served clients in numerous industries including publicly traded energy and mining companies, with assignments in Tulsa, London, Houston and Denver. Technical background includes service in PwC's Global Capital Markets Group in London from 1999 to 2002 assisting non-US companies with US capital market transactions and SEC reporting, and leadership roles overseeing a division of PwC's Center of Excellence and its Acceleration Center in India. Licensed as a CPA in Oklahoma, Texas and Colorado; BSc and MSc in Accounting, Oklahoma State University.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
enCore Energy Corp, an operating uranium producer (South Texas ISR operations plus the White Mesa mill), holds 5.7% of Ur-Energy (22,458,804 shares) per Ur-Energy's June 2026 definitive proxy statement. Institutional ownership is otherwise very high but almost entirely passive uranium-sector ETFs and broad index funds. Two officers bought stock on the open market in the past year, though much larger selling by several other insiders in the same window offsets that buying.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Ur-Energy is a US uranium producer with two in-situ recovery (ISR) mines in Wyoming: Lost Creek in Sweetwater County, producing since 2013, and Shirley Basin, its second mine, where mining began in April 2026. The first Shirley Basin uranium was shipped to the Lost Creek processing plant in August 2026, and the mine is licensed for up to 2.0 million lb of U3O8 equivalent. Across both properties, measured and indicated resources are 20,980,000 lb of eU3O8 (16,215,000 lb measured and 4,765,000 lb indicated) plus 10,357,000 lb inferred, as at 31 December 2025. Lost Creek's technical report summary, effective 31 December 2025, shows an after-tax NPV8% of US$244.1M and a 65.7% IRR, with wellfield production planned to run to the second quarter of 2039. Lost Creek's total cost was US$48.85 per pound sold in Q1 2026.