Ur-Energy announced that it has signed a second multi-year uranium sales agreement with a nuclear fuel company. The new sales agreement calls for the annual delivery of 300,000 pounds of uranium concentrates over a five-year period beginning in 2024. Sales prices are anticipated to be profitable on a company-wide, all-in cost basis and are escalated annually from the initial pricing in 2024. The agreement also provides that a 2029 commitment of 300,000 pounds may be agreed to by the parties no later than year-end 2026. The company’s total sales quantity now under contract is 500,000 pounds U3O8 per year beginning in 2024, plus or minus a small flex. The company previously announced its initial multi-year agreement for sales of 200,000 pounds U3O8 annually beginning in 2023. Pursuant to the company’s request, that previously announced sales agreement is conditioned on Ur-Energy securing additional contractual commitments to support a development decision. Ur-Energy continues in its ongoing discussions with other nuclear fuel companies with the objective of layering in sufficient additional term offtake contracts to incentivize a ramp-up of production at Lost Creek.
Published first on TheFly
