Construction at the Shirley Basin Project, managed by Ur-Energy Inc. (URG, Financial), is advancing as planned, with the company reaffirming an expected mine startup by early 2026. Key developments include the hiring of senior site management and construction personnel, alongside ongoing staff training efforts at the Lost Creek site.
The project has made significant headway, having upgraded existing infrastructure and facilities. Notable activities completed thus far include transforming the access road into an all-weather surface, setting up approximately 125 monitor wells for Mine Unit 1, and refurbishing existing buildings like the warehouse and maintenance bay, which saved several million dollars compared to new construction. Additionally, modular offices have been set up, and crucial systems like power, communications, and security have been installed.
Preparations are underway for the first ion exchange vessels expected to be delivered in the fall, while operational readiness continues with the development of Standard Operating Procedures and permitting documents for agency review, crucial for the pre-operations inspection by the Wyoming Uranium Recovery Program.
Looking ahead to 2025, Ur-Energy plans to finish the upgrade of its electrical substation and construct the initial header house in Mine Unit 1. With two drill rigs already operational since April 14, four more will be added in the second quarter to continue preparation work efficiently. Although few drill rigs are needed due to dense historical drilling, further plans include building a satellite plant enclosure for ion exchange and wastewater systems, and establishing additional header houses and offices.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Ur-Energy Inc (URG, Financial) is $2.51 with a high estimate of $3.75 and a low estimate of $2.00. The average target implies an upside of 276.09% from the current price of $0.67. More detailed estimate data can be found on the Ur-Energy Inc (URG) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, Ur-Energy Inc's (URG, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
