Ur Energy Inc. (URG)

[Realperson]

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."