Ur-Energy Inc. Q3 2026 Earnings Recap

Ur-Energy shares fell 16.1% after earnings, with the transcript pointing to ongoing ramp-up constraints and delayed wastewater capacity at Lost Creek as likely concerns. The permanent wastewater facility is not expected to be operational until Q2 2027, while the company continues to work on optimizing production at both operating sites.

Key Takeaways

• Ur-Energy delivered 190,000 pounds of U₃O₈ under long-term contracts in Q3, generating $12.3 million in revenue; year-to-date sales increased 67.3% year over year.
• Lost Creek drummed 341,058 pounds through the first nine months, up 18.2% from the prior-year period. Mine Unit 5 production is targeted to start in Q1 2027, subject to regulatory approval.
• Lost Creek’s new wastewater treatment facility is on schedule for Q2 2027. The company has introduced interim wastewater-management measures and completed maintenance on plant systems since quarter-end.
• Shirley Basin captured 25,330 pounds year to date, including 14,697 pounds in Q3. Additional header houses are planned from Q4 2026 through 2027 as the company continues to optimize operations.
• Q3 cash cost was $40.40 per produced pound, while year-to-date cash costs declined 7.6% year over year. Finished inventory at the conversion facility was 233,378 pounds at quarter-end.