Ur-Energy announces eighth uranium sales agreement

Ur-Energy (URG) now has eight multi-year sales agreements in place with major nuclear and utility companies, including Constellation Energy, a leading producer of reliable, emissions-free energy. The annual delivery base amount ranges from 440,000 to 1,300,000 pounds of U3O8 from 2025 through 2033, with potential additional deliveries of 100,000 pounds in 2032 and 2033. The eight agreements total sales of 6.0 million pounds of UO with delivery timeline flexibility. The new sales agreement secures the annual sale and delivery of 100,000 pounds of U3O8 per year in 2028, 2029, and 2030. Pricing is set at an escalated fixed price, well above current spot and term prices. Ur-Energy has the sole option to sell up to an additional 100,000 pounds each year at a sales price equal to 99% of the average monthly spot price for the two months preceding the delivery date. Pricing for the new contract exceeds the current term market price; A significant portion of Ur-Energy’s licensed production capacity through 2033 is uncontracted, leaving ample room for additional contracts; The demand for uranium is strong as utilities and other fuel buyers continue to issue requests for proposal; The U.S. Department of Energy low enriched uranium and high-assay low enriched uranium programs present additional opportunities for uranium sales.