The new sales agreement calls for the annual delivery of 300,000 pounds of uranium concentrates ("U 3 O 8 ") over a five-year period beginning in 2024. Sales prices are anticipated to be profitable on a Company-wide, all-in cost basis and are escalated annually from the initial pricing in 2024. The agreement also provides that a 2029 commitment of 300,000 pounds may be agreed to by the parties no later than year-end 2026. The Company’s total sales quantity now under contract is 500,000 pounds U 3 O 8 per year beginning in 2024, plus or minus a small flex.
The Company previously announced its initial multi-year agreement for sales of 200,000 pounds U 3 O 8 annually beginning in 2023. Pursuant to the Company’s request, that previously announced sales agreement is conditioned on Ur‑Energy securing additional contractual commitments to support a development decision. (See Ur-Energy News Release August 8, 2022.) […]
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