Ur-Energy (TSX:URE) has announced a revision to its production guidance for 2024 following updates on its Lost Creek Mine operations and Shirley Basin Construction. The company stated that as ramp-up continues, five header houses are expected to come online at Lost Creek in 2024, with the most recent one being operational since mid-August. The next header house is scheduled to come online later in September, with ongoing shipments of yellowcake and dried product to the conversion facility.
The company mentioned plans to redirect some drill rigs to exploration projects within the Great Divide Basin as well. Despite a slow ramp-up, the pounds captured in the processing plant have increased every month in 2024, prompting a revision of the production guidance to a range of 325,000 to 475,000 pounds of uranium at Lost Creek.
At Shirley Basin, installation of monitor wells for the first mine unit is progressing according to schedule, with all planned wells piloted and cased. Three drill rigs are currently operational at Shirley Basin and will be redeployed to Lost Creek after completion of the work. The company anticipates the construction at Shirley Basin to be finished by late 2025, with a pre-operations inspection by the State of Wyoming shortly thereafter.
Ur-Energy is a uranium mining company operating the Lost Creek in situ recovery uranium facility in south-central Wyoming. As of 3:57 pm ET, shares of Ur-Energy Inc. (TSX:URE) have risen by 2.56 per cent to C$1.60.
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