Ur-Energy

Research question

Wellfield flow, plant recovery and finished-product conversion

What limits delivery, and how quickly can qualified alternatives expand?

Reported evidence

Ur-Energy reported Lost Creek Q1 2026 captured, dried/packaged and shipped uranium as separate operating stages.

• Ur-Energy: Q1 2026 results, exhibit 99.1 ↗Source: 2026-05-08 · Checked 2026-10-21

Our interpretation

Captured pounds are not finished inventory or sales, and uranium recovery does not provide enrichment capacity.

Capacity and delivery boundaries

• The selected quarter records 110,314 lb captured, 95,599 lb dried/packaged and 103,956 lb shipped. These stage totals are not interchangeable or annual capacity. Source ↗

What to monitor

• Captured versus drummed versus shipped pounds and cash cost
• Shirley Basin ramp evidence, contract deliveries and liquidity

What would weaken the case?

• Wellfield flows or plant reliability limit drummed output
• Production costs or financing needs outpace realized contract revenue

Economic exposure

Revenue tied to this specific constraint, pricing power and current valuation have not been quantified in this profile. These need a separate financial review.