UR-ENERGY INC. Q2 2024: Assets $270.9M, Liabilities $1.5M

TL;DR

**UR-ENERGY Q2 2024: $270.9M Assets, $1.5M Liabilities. Solid financials.**

AI Summary

UR-ENERGY INC. reported its Q2 2024 results, with total assets reaching $270.9 million and total liabilities at $1.5 million as of June 30, 2024. The company's fiscal year ends on December 31st. Key financial figures include a P4Y value of $641,910 and a P1Y value of $39,041,000 for the period.

Why It Matters

This filing provides a snapshot of UR-ENERGY INC.'s financial health and operational status for the second quarter of 2024, crucial for investors assessing the company's stability and performance.

Risk Assessment

Risk Level: low — The filing presents standard financial reporting for a public company with no immediate red flags indicating high risk.

Key Numbers

• $270.9B — Total Assets (As of June 30, 2024)
• $1.5M — Total Liabilities (As of June 30, 2024)
• $641,910 — P4Y Value (Financial metric for the period)
• $39,041,000 — P1Y Value (Financial metric for the period)

Key Players & Entities

• UR-ENERGY INC. (company) — Filer
• 20240630 (date) — End of reporting period
• $270,898,900 (dollar_amount) — Total assets as of June 30, 2024
• $1,500,000 (dollar_amount) — Total liabilities as of June 30, 2024
• 1231 (date) — Fiscal year end

FAQ

Filing Documents

• urg_10q.htm (10-Q) — 1562KB
• urg_ex311.htm (EX-31.1) — 9KB
• urg_ex312.htm (EX-31.2) — 12KB
• urg_ex321.htm (EX-32.1) — 5KB
• urg_ex322.htm (EX-32.2) — 5KB
• 0001654954-24-010255.txt ( ) — 5697KB
• urg-20240630.xsd (EX-101.SCH) — 60KB
• urg-20240630_lab.xml (EX-101.LAB) — 289KB
• urg-20240630_cal.xml (EX-101.CAL) — 53KB
• urg-20240630_pre.xml (EX-101.PRE) — 248KB
• urg-20240630_def.xml (EX-101.DEF) — 131KB
• urg_10q_htm.xml (XML) — 897KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 42

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 43 Item 1A.

Risk Factors

Risk Factors 43 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 3. Defaults Upon Senior Securities 43 Item 4. Mine Safety Disclosure 43 Item 5. Other Information 43 Item 6. Exhibits 44

SIGNATURES

SIGNATURES 45 2 Table of Contents When we use the terms "Ur-Energy," "we," "us," or "our," or the "Company" we are referring to Ur-Energy Inc. and its subsidiaries, unless the context otherwise requires. Throughout this document we make statements that are classified as "forward-looking." Please refer to the "Cautionary Statement Regarding Forward-Looking Statements" section below for an explanation of these types of assertions. Cautionary Statement Regarding Forward-Looking Information This report on Form 10-Q contains "forward-looking statements" within the meaning of applicable United States ("U.S.") and Canadian securities laws, and these forward-looking statements can be identified by the use of words such as "expect," "anticipate," "estimate," "believe," "may," "potential," "intends," "plans" and other similar expressions or statements that an action, event or result "may," "could" or "should" be taken, occur or be achieved, or the negative thereof or other similar statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by these forward-looking statements. Such statements include, but are not limited to: (i) the ability to maintain safe and compliant operations at Lost Creek; (ii) the continued schedule for ramp-up at Lost Creek, including the schedule for bringing additional header houses online; (iii) our ability to reach steady state higher production levels at Lost Creek in a timely and cost-effective manner including timely delivery into our contracts; (iv) development and construction priorities and timelines for Shirley Basin, and whether our current projections for buildout can to be achieved with respect to budget and timelines; (v) the ability to complete additional favorable uranium sales agr

FINANCIAL STATEMENT S

Item 1. FINANCIAL STATEMENT S Ur-Energy Inc. Interim Consolidated Balance Sheets (expressed in thousands of U.S. dollars) (the accompanying notes are an integral part of these consolidated financial statements) Note June 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents 3 61,314 59,700 Trade receivables 29 - Current portion of lease receivable (net) 204 77 Inventory 4 5,074 2,571 Prepaid expenses 1,342 1,321 Total current assets 67,963 63,669 Non-current assets Lease receivable (net) 651 208 Restricted cash 5 10,757 8,549 Mineral properties 6 39,443 34,906 Capital assets 7 21,764 21,044 Total non-current assets 72,615 64,707 Total assets 140,578 128,376 Liabilities and shareholders' equity Current liabilities Accounts payable and accrued liabilities 8 4,051 2,366 Current portion of notes payable 9 - 5,694 Current portion of warrant liability 10 - 1,743 Current portion of lease liability 222 162 Environmental remediation accrual 63 69 Total current liabilities 4,336 10,034 Non-current liabilities Warrant liability 10 6,564 11,549 Asset retirement obligations 11 36,098 31,236 Lease liability 822 687 Total non-current liabilities 43,484 43,472 Shareholders' equity Share capital 12 344,298 302,182 Contributed surplus 20,397 19,881 Accumulated other comprehensive income 4,099 3,718 Accumulated deficit ( 276,036 ) ( 250,911 ) Total shareholders' equity 92,758 74,870 Total liabilities and shareholders' equity 140,578 128,376 5 Table of Contents Ur-Energy Inc. Interim Consolidated Statements of Operations and Comprehensive Loss (expressed in thousands of U.S. dollars, except share data) (the accompanying notes are an integral part of these consolidated financial statements) Three Months Ended June 30, Six Months Ended June 30, Note 2024 2023 2024 2

Properties

Properties Total December 31, 2023 2,466 17,726 14,714 34,906 Change in estimated reclamation costs 4,565 10 - 4,575 Depletion and amortization ( 38 ) - - ( 38 ) June 30, 2024 6,993 17,736 14,714 39,443 Lost Creek Property The Company acquired certain Wyoming properties in 2005 when Ur-Energy USA Inc. purchased 100 % of NFU Wyoming, LLC. Assets acquired in this transaction include the Lost Creek Project, other Wyoming properties, and development databases. NFU Wyoming, LLC was acquired for aggregate consideration of $ 20 million plus interest. Since 2005, the Company has increased its holdings adjacent to the initial Lost Creek acquisition through staking additional claims and making additional property purchases and leases. There is a royalty on each of the State of Wyoming sections under lease at the Lost Creek, LC West and EN Projects, as required by law. We are not recovering U 3 O 8 within the State section under lease at Lost Creek and are therefore not subject to royalty payments currently. Other royalties exist on certain mining claims at the LC South, LC East and EN Projects. There are no royalties on the mining claims in the Lost Creek, LC North, or LC West Projects. 11 Table of Contents Ur-Energy Inc. Condensed Notes to Consolidated Financial Statements June 30, 2024 (expressed in thousands of U.S. dollars unless otherwise indicated) Shirley Basin Property The Company acquired additional Wyoming properties in 2013 when Ur-Energy USA Inc. purchased 100 % of Pathfinder Mines Corporation ("Pathfinder"). Assets acquired in this transaction include the Shirley Basin property, other Wyoming properties, and development databases. Pathfinder was acquired for aggregate consideration of $ 6.7 million, the assumption of $ 5.7 million in estimated asset reclamation obligations, and other consideration. Other U.S. Properties Other U.S. properties include the acquisition costs of several prospective mineral

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