Japan restarts first nuclear power plant since Fukushima

http://www.bbc.com/news/world-asia-33858350

Uranium just got a lot worse

http://www.uxc.com/review/UxCPrices.aspx

U3O8 Price (lb) $35.75 (-2.50) €32.08 (-2.24)

I own URG and URZ.
You have to trade them, I dont think the spot price will break $50 until 2016.

Japan governor approves Sendai reactor restart
http://www.bbc.com/news/world-asia-29947564

They will when the spot price is high enough. Future long term contracts will be higher with a higher spot price. Money will flow back into uranium miners as the spot price rises.

U3O8 Price (lb) $36.50 [+2.50] €28.40 [+1.95]
Ux Month-End Spot Prices as of August 25, 2014
Change from previous month

U3O8 Price (lb) $34.00 [+1.25] €26.28 [+0.97]

Uranerz Makes First Uranium Delivery
http://finance.yahoo.com/news/uranerz-makes-first-uranium-delivery-130000246.html
CASPER, WY--(Marketwired - September 03, 2014) - Uranerz Energy Corporation ("Uranerz" or the "Company") (NYSE MKT: URZ) (URZ.TO) (U9E.F) is pleased to announce that it has delivered its first drums of uranium (as U3O8) produced from its wholly-owned Nichols Ranch ISR Uranium Project in the Powder River Basin of Wyoming, U.S.A. The shipment of approximately 36,000 pounds was received at ConverDyn's Metropolis Works Facility, located in Metropolis, Illinois, for subsequent transfer to one of the Company's utility customers.

Uranerz signed its first long-term uranium sales agreement in 2009 with Exelon Generation Company, LLC, and signed its second sales agreement with another major U.S. utility later that same year. This delivery will satisfy a portion of Uranerz' existing long-term sales contracts and the Company expects to make its next shipment of uraniumlater this quarter.

"This shipment takes the Company one step closer to completing its first recorded sales transaction," stated Glenn Catchpole, Uranerz Chief Executive Officer. "We look forward to reporting production and revenue figures in the next quarter."

The Nichols Ranch production facility is the newest uranium mine in North America. Commissioning of the Nichols Ranch ISR Uranium Project began on April 15, 2014 with the start of chemical addition to the circulating groundwater. The in-situ recovery process utilizes oxidized groundwater, fortified with baking soda, which is distributed through the underground uranium deposit by means of injection wells. The uranium-bearing water is recovered using production wells. Uranium is loaded on ion exchange resin at Nichols Ranch, and the resin is then transported to Cameco Resources' Smith Ranch uranium production facilities for final processing into dried and drummed uranium concentrates. As the operations at Nichols Ranch have begun to transition from commissioning to commercial production, we are continuing to observe the expected improvements in the uranium recovery parameters.

About Uranerz
Uranerz Energy Corporation is a U.S.-domiciled uranium company. The Company's Nichols Ranch unit is its first ISR uranium mine. Uranerz controls a large strategic land position in the central Powder River Basin. The Company's management team has specialized expertise in the ISR uranium mining method and a record of licensing, constructing and operating ISR uranium projects. The Company has entered into three long-term uranium sales contracts with Exelon and one other large nuclear utility for a portion of its planned production.

Further Information
For further information, please contact Derek Iwanaka, Manager of Investor Relations at 1-800-689-1659 or by email at investor@uranerz.com. Alternatively, please refer to the Company's website at www.uranerz.com, review the Company's filings with the Securities and Exchange Commission at www.sec.gov, or visit the Company's profile on SEDAR at www.sedar.com.

Forward-looking Statements
This press release may contain or refer to "forward-looking information" and "forward-looking statements" within the meaning of applicable United States and Canadian securities laws, which may include, but are not limited to, statements with respect to the Company's expectation that it will make its next shipment of uranium later this quarter, that this first shipment takes the Company one step closer towards completing its first recorded sales transaction, that the Company looks forward to reporting production and revenue figures in the next quarter, and all other statements which are in the future tense or which describe future activities or express intentions or expectations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the SEC (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not undertake to update forward-looking statements, except as required by law.

Decent Seeking Alpha pump piece

Ur-Energy: A Perfect Pick For Global Renaissance Of Uranium Markets
http://seekingalpha.com/article/2463075-ur-energy-a-perfect-pick-for-global-renaissance-of-uranium-markets

Ur-Energy Completes Technical Report on Shirley Basin Uranium Project
http://finance.yahoo.com/news/ur-energy-completes-technical-report-220400793.html

Weekly spot price up 1.25 to $30.00

Uranerz Announces Second Quarter 2014 Financial Results
http://finance.yahoo.com/news/uranerz-announces-second-quarter-2014-130000731.html

I updated the share structure in the Ibox. URG still has a lot more shares outstanding. I don't see URZ going into the .80's basement, but then again Im known to go all in with pocket 2's

Japan's nuclear restart may be delayed until 2015
http://in.reuters.com/article/2014/08/06/japan-nuclear-restart-idINKBN0G607C20140806
(Reuters) - The long-awaited restart of Japan's nuclear power plants is facing yet another setback and may be delayed until 2015, Japanese media said on Wednesday, piling pressure on struggling utilities to push for fresh price hikes.

Kyushu Electric Power's two-reactor Sendai plant, located about 1,000 km (600 miles) southwest of Tokyo, is likely to be the first nuclear plant to be allowed to restart under tough new safety regulations after the 2011 Fukushima crisis.

The Sendai plant cleared the Nuclear Regulation Authority's (NRA) initial safety hurdle last month, but the utility was supposed to hand in additional, detailed paperwork on specific safety features at the site and how they planned to construct them.

Japan's public broadcaster NHK and other media said that Kyushu Electric said documentation issues meant final deliberations on the restart would be pushed back by the regulator, delaying the restart until after winter.

A Kyushu Electric spokeswoman said that the company does not have a timeline for starting up the reactors and confirmed comments by an executive that submission of additional documents may be delayed until late September or even October.

"We have been saying that we cannot say when the (restart) will be," the spokesman said.

The utility has said that restarting the two Sendai reactors would cut its fossil fuel purchases by 200 billion yen over a year.

Even after final approval by the nuclear regulator, Japan has said it will defer any final decision on restarting reactors to the local prefecture and host community where the plants are based.

All 48 of Japan's nuclear reactors were gradually taken offline and remain idled after an earthquake and tsunami set off a nuclear crisis at the Fukushima Daiichi plant in March, 2011. Their shutdown has forced utilities to import record amounts of liquefied natural gas and coal to run power stations.

Japan's electric utilities have racked up more than $34 billion in losses in the three years since the disaster. Kyushu Electric, which reported a 41 billion yen ($400 million) quarterly loss last Thursday following three annual losses, has received a government bailout this year.

Struggling utilities have sought to shore up finances by raising electricity prices and a delay in restarting Kyushu's Sendai plant may force the utility to also seek price hikes.

Hokkaido Electric Power, which also received a government bailout earlier this year, has requested government approval to raise household electricity rates by at least 17 percent from October.

Shares in Kyushu Electric were down 3 percent to 1,127 yen during morning trade, compared to the 0.8 percent slip in Tokyo's Nikkei benchmark index.

(1 US dollar = 102.52 Japanese yen)

(Reporting by Mari Saito; Editing by Aaron Sheldrick and)

While waiting and waiting for the Uranium price to go up, trading URZ as well as URG is the way to go. IMO Both stocks will move again when a date is set for any kind of restart in Japan followed by a pullback. I dont think a Japanese restart will affect the Uranium price much in the short term due to their stockpiles.

Two Japanese Reactors Receive Preliminary Approval
Delayed Japanese reactor restarts have undeniably added to the negative sentiment towards uranium over the last several months. However, the country’s nuclear watchdog just gave preliminary safety approval for the restart of two reactors at the Sendai plant.
http://uraniuminvestingnews.com/18801/japan-reactors-nuclear-cameco-uranerz-ur-energy-kivalliq.html

TORONTO , July 17, 2014 /CNW/ - Trading resumes in:

Company: Uranerz Energy Corporation

TSX Symbol: URZ

Resumption: Open

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada .

SOURCE Investment Industry Regulatory Organization of Canada (IIROC)

Japan reactors gain safety clearance
The First Steps of Japan’s Nuclear Restart
With regulatory approval imminent, the public has one month to voice concerns and shape the outcome.
http://thediplomat.com/2014/07/the-first-steps-of-japans-nuclear-restart/
Since Japan instituted what its regulators dubbed the world’s “toughest nuclear safety standards” in early July last year, its Nuclear Regulatory Agency has been reviewing safety screening applications for multiple reactors across the country. On Wednesday the NRA announced its review of Sendai Nuclear Power Plant near the southernmost point of Japan’s four main islands. The inspection officials are expected to approve a restart for the reactors later in the day, although that would not be the final step before they come back online. As this announcement would mark the possible beginning of nuclear restarts under the NRA’s new stringent guidelines, the final steps will be indicative of how the rest of Japan’s reactors are likely to fare on their path to being restarted.

Sendai’s two reactors have been looked at as the first to come back online for quite some time, since last September when the Oi Nuclear Power Plant’s No. 3 and 4 reactors were shut down for maintenance. Since Prime Minister Shinzo Abe’s Cabinet approved the new Basic Energy Plan in April, the government has reaffirmed its commitment to nuclear energy as a “base-load electricity source,” a shift from the previous administration’s goal of completely removing Japan’s nuclear dependence by the 2030s. However, “the NRA’s role is to check whether reactors meet safety requirements, not to approve their restart. Actual approvals are the sole responsibility of local government officials,” according to the regulator’s spokesman in an email response to Bloomberg.

Whether Sendai’s operator, Kyushu Electric Power Co., can convince local officials and their public to approve a restart is another matter. The government has instituted a one month consultation period, meaning the plant will have little effect on this summer’s peak usage. One key indicator of the return of Sendai’s reactors may be that the governor of Kagoshima prefecture, Yuichiro Ito, defeated an anti-nuclear opponent in his 2012 reelection.

While these are just two of Japan’s 48 nuclear reactors, they accounted for 5 percent of Japan’s online nuclear capacity the week preceding the 2011 nuclear disaster. The local popular debate that surrounds their restart may offer some insight as to how other local communities will respond when some of Japan’s other reactors finish their safety screenings. Western Japan in particular is stretched to the limit of its energy supply with its nuclear plants off-line, and while no other reactors are likely to come back online this year, places like Fukui prefecture (also in western Japan and with 13 reactors off-line) could become battlegrounds between local populations fearful of nuclear disaster, utility companies that have lost 1.5 trillion yen ($14.8 billion) since the Fukushima Daiichi meltdown, and a government that worries about trade deficits for 23 consecutive months due to the overwhelming increase in fossil fuel imports. The next month will show the extent of public resistance (at least in the southern portion of Kyushu Island), and how effective it can be at shaping Japan’s nuclear policy.

Japan reactors gain safety clearance
The First Steps of Japan’s Nuclear Restart
With regulatory approval imminent, the public has one month to voice concerns and shape the outcome.
http://thediplomat.com/2014/07/the-first-steps-of-japans-nuclear-restart/
Since Japan instituted what its regulators dubbed the world’s “toughest nuclear safety standards” in early July last year, its Nuclear Regulatory Agency has been reviewing safety screening applications for multiple reactors across the country. On Wednesday the NRA announced its review of Sendai Nuclear Power Plant near the southernmost point of Japan’s four main islands. The inspection officials are expected to approve a restart for the reactors later in the day, although that would not be the final step before they come back online. As this announcement would mark the possible beginning of nuclear restarts under the NRA’s new stringent guidelines, the final steps will be indicative of how the rest of Japan’s reactors are likely to fare on their path to being restarted.

Sendai’s two reactors have been looked at as the first to come back online for quite some time, since last September when the Oi Nuclear Power Plant’s No. 3 and 4 reactors were shut down for maintenance. Since Prime Minister Shinzo Abe’s Cabinet approved the new Basic Energy Plan in April, the government has reaffirmed its commitment to nuclear energy as a “base-load electricity source,” a shift from the previous administration’s goal of completely removing Japan’s nuclear dependence by the 2030s. However, “the NRA’s role is to check whether reactors meet safety requirements, not to approve their restart. Actual approvals are the sole responsibility of local government officials,” according to the regulator’s spokesman in an email response to Bloomberg.

Whether Sendai’s operator, Kyushu Electric Power Co., can convince local officials and their public to approve a restart is another matter. The government has instituted a one month consultation period, meaning the plant will have little effect on this summer’s peak usage. One key indicator of the return of Sendai’s reactors may be that the governor of Kagoshima prefecture, Yuichiro Ito, defeated an anti-nuclear opponent in his 2012 reelection.

While these are just two of Japan’s 48 nuclear reactors, they accounted for 5 percent of Japan’s online nuclear capacity the week preceding the 2011 nuclear disaster. The local popular debate that surrounds their restart may offer some insight as to how other local communities will respond when some of Japan’s other reactors finish their safety screenings. Western Japan in particular is stretched to the limit of its energy supply with its nuclear plants off-line, and while no other reactors are likely to come back online this year, places like Fukui prefecture (also in western Japan and with 13 reactors off-line) could become battlegrounds between local populations fearful of nuclear disaster, utility companies that have lost 1.5 trillion yen ($14.8 billion) since the Fukushima Daiichi meltdown, and a government that worries about trade deficits for 23 consecutive months due to the overwhelming increase in fossil fuel imports. The next month will show the extent of public resistance (at least in the southern portion of Kyushu Island), and how effective it can be at shaping Japan’s nuclear policy.

UR-Energy sees 2H14 contracts "significantly" higher priced
http://finance.yahoo.com/news/ur-energy-sees-2h14-contracts-100706290.html
Ur-Energy has secured sales commitments of approximately 518K pounds of U3O8 at an average sales price of $51.10 per pound for 2014. Deliveries during Q2 corresponded to the lower price contracts. During 2H14, the company will deliver production to significantly higher priced contracts. The Q3 production target for Lost Creek is 200K pounds U3O8 dried and drummed so that the company can make timely delivery of its remaining sales obligations for the year.

Green Shoots in the Uranium Market?
Motley Fool
http://www.fool.com/investing/general/2014/07/09/green-shoots-in-the-uranium-market.aspx
By Peter Epstein
July 9, 2014

I've followed uranium companies, both large and small, for the past six years. Rarely has market sentiment been so poor. Understandably, with the uranium spot price near a nine-year low, at about $28/pound, moods among industry participants are depressed. While I can't say that an imminent spike in the spot price is in the cards, even a modest move back above $30/pound could spark a decent rally in uranium stocks.

Investors need to remember that in the months leading up to Japan's terrible Fukushima accident in 2011, long-term uranium prices were in the low $70s per pound. The long-term price takes into consideration operating reactors plus future reactors under construction and planned and proposed reactors. With all of Japan's roughly 50 reactors still offline, it's easy to understand why the spot price is as depressed as the uranium producers themselves: too much supply, and too little demand.

Utility contracting has to pick up again by next year
Utilities that buy uranium have not been in the market for the past 12-24 months in typical fashion. With the oversupply of uranium, utilities have not felt compelled to sign long-term contracts. However, all of that will likely change by next year. Utilities need to lock in some additional supply for 2016-17, but many are really wide open for 2018 and beyond -- perhaps more wide open just four years out then they've ever been. When long-term contracting activity picks up again, and it must, producers should be able to regain some degree of pricing power. Clearly, the spot price of $28/pound is not a realistic market indicator.

Just as the spot price collapsed by 20% to $28/pound fairly quickly on very little transactional volume, I believe the price could bounce back to the $30s/pound without much trouble at all. More important will be the long-term contract price, which currently stands at $45/pound. Even a modest uptick to $50/pound, perhaps by the end of 2014, would be a positive boost to overall sentiment.

Green shoots?
I mentioned green shoots in the title of this article. A growing list of supply being taken offline by companies like Paladin (NASDAQOTH: PALAF ) and new mines by Cameco (NYSE: CCJ ) and Areva (NASDAQOTH: ARVCF ) being either temporarily delayed or pretty much mothballed. For example, Cameco announced it is not proceeding with permitting its Millennium project, which hosts 46.8 million pounds. Both Areva and Paladin have large mines in Africa on care and maintenance.

Even low-cost In-Situ Recovery companies in the U.S. are curtailing production. Companies like Uranium Energy Corp (NYSEMKT: UEC ) , Uranerz, and Ur-Energy (NYSEMKT: URG ) . Why operate at ultra-thin operating margins? It's prudent for these companies, that don't have giant sized resources, to keep the pounds in the ground until higher uranium prices return. Note, Ur-Energy and Uranerz are still producing at reduced capacity to fulfill customer contracts that were signed when the uranium price was higher.

The green shoot I want to highlight is that finally, after 12-18 months of market pundits talking about reactor restarts in Japan -- finally, I think we could see some. To be fair, it won't be a lot of restarts, but maybe 2-6 by year end. Some pundits are still calling for 6-12 restarts.

Bottom line
Investors may want to do some homework on uranium stocks for possible buying opportunities in coming months. Talk of Japanese restarts has been around so long that it's a lot like the boy who cried wolf. However, green shoots may be popping u

Uranium: The Short Term Is Bad, but the Long Term Looks Great
http://uraniuminvestingnews.com/18684/uranium-the-short-term-is-bad-but-the-long-term-looks-great.html

Uranerz Makes First Resin Shipment to Cameco
http://finance.yahoo.com/news/uranerz-makes-first-resin-shipment-130000572.html
CASPER, WYOMING--(Marketwired - Jun 16, 2014) - Uranerz Energy Corporation ("Uranerz" or the "Company") (NYSE MKT:URZ) (URZ.TO) (U9E.F) is pleased to announce that it has sent its first shipment of uranium-loaded resin from the Nichols Ranch ISR Uranium Project to Cameco Resources' Smith Ranch uranium processing facilities for final processing into uranium concentrates pursuant to a toll processing agreement between the two companies.

The mining operations at Nichols Ranch utilize the in-situ recovery ("ISR") mining process. The Nichols Ranch ISR Uranium Project is located in the Powder River Basin of Wyoming where ISR uranium mining is the generally accepted extraction technology. At the Nichols Ranch wellfield, groundwater is fortified with oxygen, baking soda and carbon dioxide, which is injected underground through injection wells into the uranium deposit within a confined aquifer. This solution dissolves the uranium that coats the sand grains. The uranium-rich solution is pumped to the surface using recovery wells and sent to the Nichols Ranch plant through a network of pipelines. At the plant, the solution flows through ion exchange columns where the uranium attaches to resin beads inside the columns. The uranium-loaded resin is then shipped to Cameco by truck where the uranium will be stripped from the resin, precipitated, dried, put into shipping drums and then transported to a conversion facility where it will be sold to Uranerz' customers. The barren resin will be returned to Nichols Ranch and re-used in the uranium recovery process.

Glenda Thomas, Senior Vice President, Operations of Uranerz Energy commented, "This marks the first of many resin shipments to Cameco's ISR processing facility. We now look forward to the next step of making our first delivery of uranium to the conversion facility where our customers will take ownership of the product."

To view the photo associated with this release, please visit the following link: http://media3.marketwire.com/docs/952048.pdf

About Uranerz

Uranerz Energy Corporation is a U.S.-domiciled uranium company. The Company's Nichols Ranch unit is its first ISR uranium mine. Uranerz controls a large strategic land position in the central Powder River Basin (+79,000 acres). The Company's management team has specialized expertise in the ISR uranium mining method and a record of licensing, constructing and operating ISR uranium projects. The Company has entered into long-term uranium sales contracts for a portion of its planned production with Exelon and one other of the largest nuclear utilities in the country.

Further Information

For further information, please contact Derek Iwanaka, Manager of Investor Relations at 1-800-689-1659 or by email at investor@uranerz.com. Alternatively, please refer to the Company's website at www.uranerz.com, review the Company's filings with the Securities and Exchange Commission at www.sec.gov, or visit the Company's profile on SEDAR at www.sedar.com.

Forward-looking Statements

This press release may contain or refer to "forward-looking information" and "forward-looking statements" within the meaning of applicable United States and Canadian securities laws, which may include, but are not limited to, the statements which describe the expected processes and stages in extracting, processing and commercialization of uranium, the statement setting out the Company's expectation that this will be the first of many resin shipments from the Nichols Ranch project, and all other statements which are in the future tense or which describe future activities or express intentions or expectations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the SEC (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not undertake to update forward-looking statements, except as required by law.

Ur-Energy Completes Shirley Basin Confirmation Drill Program
http://finance.yahoo.com/news/ur-energy-completes-shirley-basin-100100969.html

Ur-Energy Provides Additional 2014-2015 Guidance
http://finance.yahoo.com/news/ur-energy-provides-additional-2014-100000402.html

LITTLETON, Colo., May 22, 2014 /PRNewswire/ -- Ur-Energy Inc. (TSX:URE, NYSE MKT:URG) ("Ur-Energy" or the "Company") provides the following guidance for anticipated sales in 2014 and 2015.

As a result of the Company's continued participation in the uranium mid- and long-term sales markets, Ur-Energy has secured sales commitments for approximately 518,000 pounds U3O8 at an average realizable sales price of $51.10/lb in 2014. Projected revenues for the 2014 contractual sales, therefore, are anticipated to approach $26.5 million. This total includes the reported sales of 110,000 pounds U3O8 in first quarter 2014.

Uranium spot market pricing has recently been reported as slipping to eight-year lows. In consideration of the strong pricing inherent in the Company's contracted sales and the current weakness in the uranium spot market, any 2014 product sales beyond the contracted levels will be made solely on a discretionary basis. The Company guides that it will hold any excess production from Lost Creek in inventory which may be utilized to meet future delivery obligations or to complete discretionary spot transactions.

Production operations at Ur-Energy's Lost Creek continue to generate results consistent with the forecasted cash operating costs. The Company has reviewed its projected monthly cash flow requirements in detail and has confirmed that there is currently no need to raise additional working capital during 2014. The implementation of discrete cost controls at the facility in conjunction with the reductions in spending associated with managed production rates are expected to allow the Company to maintain a positive cash position throughout 2014 and 2015.

The Company is also pleased to provide initial sales guidance for 2015. Ur-Energy has secured sales commitments for a total of 630,000 pounds U3O8 at an average realizable price of $50.10/lb in 2015. Revenue from the 2015 contractual sales is projected to exceed $31 million. The Company expects to maintain production levels at Lost Creek consistent with the contractual sales obligations in 2015 unless the market demonstrates sustained price improvement.

Ur-Energy Chief Executive Officer Wayne Heili stated, "Ur-Energy has been able to maintain a healthy cash position and production profile in this challenging price environment through the successful execution of a well-crafted marketing plan. We have established a solid basis for the long term commercial viability of the Lost Creek production facility and in doing so, provide stability during periods of market weakness. During these times, it is necessary that we keep tight control on our spending. However, the Company will continue to position itself for future market improvements by advancing the permitting and regulatory activities for our LC East and Shirley Basin properties."

Uranerz submits license application for third Powder River Basin mining unit
Uranerz Energy announced that it has submitted the source material license amendment application for its Jane Dough unit to the U.S. Nuclear Regulatory Commission, or NRC. The Jane Dough permit area, located in the Central Powder River Basin of Wyoming, is contiguous to and immediately south of the company's wholly owned Nichols Ranch unit which recently commenced in-situ recovery uranium mining operations. Uranerz is applying to add the Jane Dough unit as an amendment to the existing license for the Nichols Ranch ISR Uranium Project, which includes the Nichols Ranch and Hank units. In this area of the Powder River Basin, uranium mineralization commonly follows along oxidization-reduction boundaries and these boundaries at the Nichols Ranch unit continue southward through the Jane Dough unit. Due to the close proximity of these two units, the company expects to install only the wellfields at Jane Dough and will transfer mining solutions to and from the processing plant at the Nichols Ranch unit through pipelines. This operational configuration should avoid the expense of constructing a separate satellite plant at Jane Dough, resulting in considerable savings in capital and time, and should serve to greatly enhance the project economics and extend the mine life at the Nichols Ranch facility.

Uranerz Announces First Quarter 2014 Financial Results
http://finance.yahoo.com/news/uranerz-announces-first-quarter-2014-130000637.html

Weekly spot price declined $1,75

Ur-Energy Releases 2014 Q1 Results
http://finance.yahoo.com/news/ur-energy-releases-2014-q1-100100924.html
LITTLETON, Colo. , May 1, 2014 /CNW/ - Ur-Energy Inc. (TSX:URE, NYSE MKT:URG) ("Ur-Energy" or the "Company") announces it has filed the Company's Form 10-Q for the quarter ended March 31, 2014 with the U.S. Securities and Exchange Commission at www.sec.gov/edgar.shtml and with Canadian securities authorities on SEDAR at www.sedar.com. These filings also may be accessed on the Company's website at www.ur-energy.com.

During the three months ended March 31, 2014 , 198,573 pounds of U3O8 were captured within the Lost Creek plant. 171,233 of those pounds were packaged in drums and 170,216 pounds of the drummed inventory were shipped to the conversion facility where 110,000 pounds were sold to utility customers at an average price of $61.12 per pound. The 2014 Q1 average cost per pound sold, including non-cash costs, was $29.46 (2013Q4 - $34.40 ). The cash cost per pound sold was $19.38 , down from a cash cost last quarter of $21.98 .

Wayne Heili , President and CEO of Ur-Energy, observed that "As anticipated, our production numbers rose incrementally, while our production cash costs per pound declined. While we continue to commission our flagship Lost Creek ISR facility, we expect this trend to continue until we reach optimal operating rates. We are identifying production processes which can be modified to achieve greater efficiencies, and are implementing those modifications. We have made significant strides toward our design-level automation, and are introducing refined processes to attain greater efficiencies in our water usage and disposal. These efforts will continue through the coming quarter."

Inventory, production and sales figures for the Lost Creek Project for Q1 are as follows:

Highlights
Unit
2014 Q1
2013 Q4




Pounds captured within the plant
lb.
198,573
141,190




Pounds packaged in drums
lb.
171,233
131,216




Pounds shipped to conversion facility
lb.
170,216
94,827




Pounds sold
lb.
110,000
90,000
Average spot price 1
$/lb.
n/a
n/a
Average long-term contract price
$/lb.
$61.12
$62.92
Average price
$/lb.
$61.12
$62.92
Average realized price
$/lb.
$54.43
$55.34
Net sales 2
$000
$5,987
$4,981




Cash cost per pound sold
$/lb.
$19.38
$21.98
Non-cash cost per pound sold
$/lb.
$10.08
$12.41
Total cost per pound sold
$/lb.
$29.46
$34.40
Cost of sales 3
$000
$3,240
$3,096


Notes:

1
There were no spot sales in 2013 or the three months ended March 31, 2014.
2
Net sales revenues and the average realized price are net of county ad valorem and state severance taxes. 2013 does not include $2,635,000 recognized from the gain on assignment of deliveries under long-term contracts because the additional revenue would distort the average realized price per pound.
3
Cost of sales include all production costs adjusted for changes in inventory values.
Cash cost per pound and non-cash cost per pound for produced and sold U3O8 presented in the table above are non-U.S. GAAP measures. These measure do not have a standardized meaning or a consistent basis of calculation under U.S. GAAP. These measures are used to assess business performance and may be used by certain investors to evaluate performance. To facilitate a better understanding of these measures, the tables below present a reconciliation of these measures to the financial results as presented in our financial statements.

Average Price Realized Per Pound Reconciliation
Unit
2014 Q1
2013 Q4




Sales of U3O8
$000
$6,723
$5,663
Ad valorem and severance taxes
$000
$(736)
$(682)
Net U3O8 sales (a)
$000
$5,987
$4,981




Pounds sold (b)
lb.
110,000
90,000




Average price realized per pound (a ÷ b)
$/lb.
$54.43
$55.34
Sales per the statement of operations included in the Form 10-Q, as well as our Form 10-K filed for the year ended December 31, 2013 , include revenue from sources other than the sale of U3O8. The sales footnotes in those financial statements separate the U3O8 sales from other revenues. Ad valorem and severance taxes are calculated on the average price per pound of U3O8 that we sell and therefore the amount of the tax will fluctuate depending on the price of U3O8 we receive. Because of this relationship to the price of U3O8, the taxes are deducted from sales revenues when determining the average realized price per pound sold. The 2014 Q1 average realized price per pound sold, after deducting the value-based ad valorem and severance taxes, was $54.43 (2013Q4 - $55.34 ).


Cost Per Pound Sold Reconciliation
Unit
2014 Q1
2013 Q4




Wellfield costs
$000
$2,547
$2,509
Plant costs
$000
$2,404
$2,352
Distribution costs
$000
$152
$33
Inventory change
$000
$(1,863)
($2,053)
Cost of sales (a)
$000
$3,240
$3,096




Pounds sold (b)
lb.
110,000
90,000




Cost per pound sold (a ÷ b)
$/lb.
$29.46
$34.40
The table above reflects both the cash and non-cash costs identified above which are combined as cost of sales in the statement of operations included in our Form 10-Q and the financial statements included with our Form 10?K. Because of having a full quarter of costs in 2013 Q4, including the post-construction commissioning costs, and only a partial quarter of U3O8 sales, the average cost per pound sold was somewhat elevated. As expected, 2014 Q1 costs were relatively consistent with 2013 Q4 while production and sales levels increased over the previous quarter, resulting in a lower average cost per pound sold. We would expect to see this cost decrease further as sales levels reach targeted rates. The 2014 Q1 average cost per pound sold, including non-cash costs, was $29.46 (2013Q4 - $34.40 ).

Operations Outlook

Project operational rates were intentionally lowered in 2014 Q1 to effectively manage the plant feed rate while we continued to commission the plant, water management and waste water systems. We continued to capture uranium in the processing plant while corrective measures were implemented and we are now in the process of resuming normal operational rates. During the quarter, production head grades continued to exceed technical projections, averaging levels of 179 mg/l U3O8.

As disclosed in our 2013 Form 10-K, 2014 Q1 production was projected to be slightly lower than initially planned as the maintenance of existing systems was conducted to improve plant efficiencies. Maintenance was completed during the quarter and actual production, as expected, was slightly lower than initially planned. During the quarter, we captured 198,573 pounds of U3O8 within the Lost Creek plant.

We also expected the cost per pound sold to decrease between 5% and 15% as production and sales quantities increased. During 2014 Q1, our cost per pound sold decreased from $34.40 in 2013 Q4 to $ 29.46 in 2014 Q1, or approximately 14%. Because we are just now beginning to resume normal operational rates, we expect 2014 Q2 production to again be slightly less than initially planned. However, we anticipate selling approximately 200,000 pounds of U3O8 during the quarter, as compared to 110,000 pounds in 2014 Q1 and 90,000 pounds in 2013 Q4.

Utilizing the physical capacity of the plant to process up to two million pounds of U3O8 annually, we still expect to produce approximately 1.0 million pounds of U3O8 in 2014. Based on the eight long-term contracts we currently have in place, we expect to sell approximately one half of the 2014 production into those contracts at an average price of $52 per pound. The remainder of the sales will be at existing spot prices unless additional contract sales are put in place.

About Ur-Energy
Ur-Energy is a junior uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming . The Lost Creek processing facility has a two million pounds per year nameplate capacity. Ur-Energy engages in the identification, acquisition, exploration development, and operation of uranium projects in the United States and Canada . Shares of Ur-Energy trade on the Toronto Stock Exchange under the symbol "URE" and on the NYSE MKT under the symbol "URG". All currency figures in this announcement are in US dollars unless otherwise stated. Ur-Energy's corporate office is located in Littleton, Colorado ; its registered office is in Ottawa, Ontario . Ur-Energy's website is www.ur-energy.com.

FOR FURTHER INFORMATION, PLEASE CONTACT

Rich Boberg, Director IR/PR

Wayne Heili, President and CEO
303-269-7707

307-265-2373
866-981-4588

866-981-4588
rich.boberg@ur-energy.com

wayne.heili@ur-energy.com
Cautionary Note Regarding Forward-Looking Information
This release may contain "forward-looking statements" within the meaning of applicable securities laws regarding events or conditions that may occur in the future (e.g., timing and results of the commissioning efforts at the Lost Creek facility, including consistently achieving nameplate production rates, achieving sales objectives for Q2, and annual production projections) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors described in the public filings made by the Company at www.sedar.com and www.sec.gov. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management's beliefs, expectations or opinions that occur in the future.

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SOURCE Ur-Energy Inc.


Contact:
http://www.ur-energy.com
http://photos.prnewswire.com/prnh/20110913/LA67628LOGO

Here is the culprit

Uranium Renaissance: Fact or Fiction?
http://uraniuminvestingnews.com/18201/uranium-renaissance-fact-or-fiction.html?pmc=E-1&MyID=dellery1@gmail.com&utm_source=Resource+Investing+News&utm_campaign=b4f074c5b5-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_f83d87db0f-b4f074c5b5-238544645
It’s been well over a year since the uranium market truly started gaining some much-needed attention, and many have high hopes for a “uranium renaissance.” Unfortunately, the phrase “uranium renaissance” has been uttered so often that it has begun to feel like a bad joke. The worst part is that the market looks to be the punch line, with spot prices sinking even further than their $34-per-pound resistance point.

As an investor, that might not be what you want to hear. But rest assured, this proverbial renaissance will happen. We just don’t know the exact date of the party.

In light of all the attention the uranium market has been getting, Uranium Investing News (UIN) recently asked readers what they want to know when it comes to the uranium market. To get those answers, UIN spoke with Rob Chang, senior metals and mining analyst at Cantor Fitzgerald, and energy metals analyst Chris Berry.
Japanese reactor restarts and prices

One of the remaining catalysts in the uranium market is Japanese reactor restarts. The expectation is that once Japan greenlights its reactors to come online, the excess supply that has been floating around the market for the last few years will finally start to decrease, pushing prices upwards as demand outpaces available supply.

But as Berry explained, there is more at play in regards to uranium prices climbing than simply reactors coming back online.

“Excess supply, the high cost and lead time of nuclear reactor construction and unease about nuclear energy are all contributing to the malaise in the market,” he told UIN.

And while Berry does see prices edging higher in the future, he isn’t expecting “explosive or violent moves in uranium” due to the fact that uranium is traded via long-term contracts, “and contract markets typically don’t react violently or roar unless there’s some sort of a fat tail or black swan event.”

“I still believe it will be 2016 before we see substantially higher uranium prices,” Berry said.

Likewise, Chang said that while Japan is very much a market catalyst, it won’t “necessarily be impacting the actual spot market in the short term, but in terms of the markets it probably will provide a bit of a boost.”

“The market should get a little bit of comfort from the fact that once Japan does announce the reactors are going to be turned on, it should provide a boost, and at least the material that is being sent to Japan or earmarked for Japan, at least some of it will be used.”

What about this secondary supply?

Anyone who has been watching the uranium market closely knows that it has fallen victim to market oversupply. Chang notes that one of the factors contributing to the overhang is secondary uranium supply; however, the exact amount of secondary supply available on the market is unknown.

“At the very least, the utilities think there’s a lot out there available, and so far they’ve been proven to be right, because they can get uranium at cheaper prices right now,” he explained.

Chang seemed a little skeptical about how much supply is actually on the market. Referring to a recent uranium conference hosted by Cantor Fitzgerald earlier this month, he said it’s possible there could be some “double counting” when it comes to assessing the amount of secondary supply available. Essentially, some industry players are “double counting the impact of tails from underfeeding.” However, as he highlighted, the argument there is that some of the tails are not going to be useful in supplying the future as after they’ve been harvested, they will not have the same high grade that they used to.

Berry, on the other hand, explained that there is “ample potential supply from these sources,” but “it all comes at a potential additional cost and these costs vary.”

Overall, Berry believes that in many cases, mining and processing uranium may be the cheaper alternative to sourcing supply from secondary supplies of uranium, such as down-blended uranium from nuclear weapons, recycled uranium or re-enriched depleted uranium.

US selling stockpiles

While oversupply is definitely at play when it comes to keeping prices down, another concern is the US government selling its uranium stockpiles to cover expenditures. Both Chang and Berry agree that isn’t the wisest of decisions — on the one hand, the US is selling its metal stockpiles, and on the other, it’s not good for the uranium market.

“The US Department of Energy (DoE) has the authority to sell, or ‘bleed’ its excess supply into the US domestic market,” Berry explained to UIN, adding that based on his calculations, the “DoE has about 25 years of supply and can sell an amount each year that does not exceed 10 percent of average annual domestic demand — approximately 5 million pounds of U3O8.”

As Berry pointed out, this is not the first time the US government has sold its critical metal stockpiles. And in the past, selling the stockpiles has led to increased concern about resource dependence. That’s a crucial issue considering that domestic production is only about 5 million pounds of uranium and consumption is closer to 50 million pounds.

However, as Chang explained, the government needs to watch its budget and will find funds where it can. Unfortunately, as Chang said, selling uranium stockpiles “does hurt the uranium market.”

Uranium prices and utilities

If one thing is clear it’s that the oversupplied market, coupled with lingering stigma relating to the dangers of nuclear power, has not helped the price of uranium in the last several years. Add to that utilities’ desire to keep uranium prices low and the “uranium renaissance” seems like a far cry from where investors would like to see things headed.

When it comes to utilities and the overall cost of operating a nuclear utility, the price of uranium is small. But more than that, the commodity is actually of more importance to the miners and producers, who as evidenced by the current price climate, cannot economically mine their deposits. Naturally, that raises the question of why utilities would be interested in keeping uranium prices depressed; after all, in the long run, it’s really not a beneficial strategy.

Berry and Chang both noted that nuclear utilities are facing competition from all sides when it comes to energy prices. Fossil fuels and renewables (though to a lesser degree) are starting to catch up, forcing utilities to look at their bottom line.

Berry highlighted that fracking has made natural gas “overwhelmingly abundant, ” which in turn has become “a real problem for nuclear power fleet expansion in the US.” He also said that utilities like Exelon are being forced to take a closer look at the “optimal source of electricity generation,” adding that because utilities offer a wide array of energy services, “higher input costs can hurt the overall margin of the utility.”

Echoing Berry’s statement, Chang said he doesn’t see utilities as having the budget to enter too aggressively into long-term contracts. Moreover, Chang believes utilities need to justify locking into a higher-priced, long-term contract when spot prices are at their lowest in years.

While the logic of “why pay more when you don’t have to” does make a certain degree of sense, on a longer-term basis, this strategy doesn’t seem like a sensible solution for utilities. Lower prices, as mentioned, have stunted the growth and production of uranium across the board. And if prices continue to go lower, or if they stay low for too long, eventually it won’t be economic to continue to mine and explore for uranium, which will add some pressure to the market. The again, if the fundamentals are still correct, high demand plus supply shortage, could equal upward pressure on the prices.

What’s an investor to do?

Analysts and market watchers are clearly hesitant to provide any definite dates for a resurgence in uranium prices, but that does not mean it will never happen. As highlighted above, there are several factors at play in the uranium market that have put downward pressure on prices, yet there are also some catalysts on the horizon — reactor restarts and impending supply shortages — that will act as positive influences on prices.

Hopefully, the adage holds true and good things will come to those who wait.

Ur-Energy Provides 2014 Q1 Operational Results
http://finance.yahoo.com/news/ur-energy-provides-2014-q1-142900492.html

Japan OKs Nuclear Power Restarts, Uranerz Energy Approved To Produce Uranium
http://seekingalpha.com/article/2147513-japan-oks-nuclear-power-restarts-uranerz-energy-approved-to-produce-uranium?isDirectRoadblock=false&uprof=

Uranerz Starts Uranium Mining Operations at Nichols Ranch
http://finance.yahoo.com/news/uranerz-starts-uranium-mining-operations-214806524.html
CASPER, WYOMING--(Marketwired - Apr 15, 2014) - Uranerz Energy Corporation ("Uranerz" or the "Company") (URZ.TO)(NYSE MKT:URZ)(U9E.F) is pleased to announce that it has commenced uranium mining operations at its wholly-owned Nichols Ranch ISR Uranium Project, located in the Powder River Basin of Wyoming, U.S.A., after receiving final clearance from the Nuclear Regulatory Commission.

Construction and commissioning of the Nichols Ranch recovery plant and initial wellfield has been completed. Uranium mining operations have commenced by using the in-situ recovery ("ISR") mining method wherein groundwater fortified with oxygen, sodium bicarbonate and carbon dioxide is circulated through the sandstone-hosted uranium deposit by means of injection and recovery wells. Uranium is extracted from the groundwater using ion-exchange technology. The uranium-loaded resin from the ion-exchange vessels at Nichols Ranch will be transported to Cameco Resources' Smith Ranch uranium processing facilities for final processing into dried and drummed uranium concentrates pursuant to a toll processing agreement between the two companies. Uranerz will arrange for shipments of its uranium from the Smith Ranch facility to a conversion facility where ownership will be transferred to its nuclear utility customers.

"The start of mining operations at Nichols Ranch represents the achievement of a major milestone for the Company that was attained through the hard work and determination of Uranerz' highly motivated employees," stated CEO Glenn Catchpole. "This is an exciting time for our entire team as Nichols Ranch becomes the newest uranium mine in North America."

About Uranerz

Uranerz Energy Corporation is a U.S.-based uranium company. The Nichols Ranch ISR Uranium Project is the Company's first uranium mine. ISR, or in-situ recovery, is a mining process that uses a leaching solution to extract uranium from sandstone uranium deposits; it is the generally accepted extraction technology used in the Powder River Basin area of Wyoming. Uranerz controls a large strategic land position in the central Powder River Basin. The Company's management team has specialized expertise in the ISR uranium mining method and a record of licensing, constructing, and operating ISR uranium projects. The Company has entered into long-term uranium sales contracts for a portion of its planned production with Exelon and one other of the largest nuclear utilities in the country.

Uranium Week: Upside Price Potential and Downside Reality
http://finance.ninemsn.com.au/newscolumnists/greg/8830544/uranium-week-upside-price-potential-and-downside-reality

Wall Street Transcript Interview with Wayne Heili, President and CEO of Ur-Energy (URG)
http://finance.yahoo.com/news/wall-street-transcript-interview-wayne-154400234.html

Conjuring Profits From Uranium's Resurgence: David Sadowski
(Seeking Alpha)
http://seekingalpha.com/article/2115923-conjuring-profits-from-uraniums-resurgence-david-sadowski

Conjuring Profits From Uranium's Resurgence: David Sadowski
(Seeking Alpha)
http://seekingalpha.com/article/2115923-conjuring-profits-from-uraniums-resurgence-david-sadowski

Vista Partners Initiates Coverage on Uranerz Energy Corporation (NYSE MKT: URZ, TSX: URZ); $2.80 Price Target
http://finance.yahoo.com/news/vista-partners-initiates-coverage-uranerz-130000214.html