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Ur-Energy January 2013 Corporate Presentation

May 08, 2015




2. Corporate Presentation January 2013Ur-Energy is an advanced pre-production junior miningcompany focused on development of low-cost uranium production properties in the United States.Corporate Objectives Lost Creek Development Resource Growth Strategic OpportunitiesNYSE MKT: URG TSX: URE2 3. Disclaimer This presentation contains forward-looking statements, within the meaning of applicable securities laws, regarding events or conditions that may occur in the future. Such statements include without limitation the Companys timeframe for events leading to and culminating in the commencement of production at Lost Creek (including procurement, construction and commissioning); the timing and outcome of the challenge to the BLM Record of Decision, including petitioners motion for preliminary injunction, the technical and economic viability of Lost Creek (including the projections contained in the preliminary analysis of economics of the Lost Creek Property); ability and timing of the Company to secure project financing including the state bond process; timing and completion of closing of the Pathfinder transaction; the ability to complete additional favorable uranium sales agreements and ability to reduce exposure to volatile market; the potential of exploration targets throughout the Lost Creek Property (including the ability to expand resources); the further exploration, development and permitting of exploration projects including Lost Soldier, the Nebraska properties, Screech Lake and, following a closing, at PMC projects; the long term effects on the uranium market of events in Japan in 2011 including supply and demand projections; and whether a re-rating of the Company will occur as production nears. These statements 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. Numerous factors could cause actual events to differ materially from those in the forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; weather and other natural phenomena; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; and other exploration, development, operating, financial market and regulatory risks. Although Ur-Energy Inc. believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this presentation. Ur-Energy Inc. disclaims any intention or obligation to update or revise any forward- looking statement, whether as a result of new information, future events or otherwise. Cautionary Note Regarding Projections: Similarly, this presentation also may contain projections relating to an extended future period and, accordingly, the estimates and assumptions underlying the projections are inherently highly uncertain, based on events that have not taken place, and are subject to significant economic, financial, regulatory, competitive and other uncertainties and contingencies beyond the control of Ur-Energy Inc. Further, given the nature of the Companys business and industry that is subject to a number of significant risk factors, there can be no assurance that the projections can be or will be realized. It is probable that the actual results and outcomes will differ, possibly materially, from those projected. The attention of investors is drawn to the Risk Factors set out in the Companys Annual Information Form and Annual Report on Form 40-F, dated March 2, 2012, which are filed, respectively, with the regulatory authorities in Canada on SEDAR and with the U.S. Securities and Exchange Commission on EDGAR. ( and Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources: the information presented uses the terms "measured", "indicated" and "inferred" mineral resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally minable. John Cooper, Ur-Energy Project Geologist, P.Geo. and SME Registered Member, and Qualified Person as defined by National Instrument 43-101, and Catherine Bull, Ur-Energy Project Engineer, Wyoming P.E., and Qualified Person as defined by the NI 43-101, reviewed and approved the technical information contained in this presentation.NYSE MKT: URG TSX: URE 3 4. Ur-Energy at a Glance Advanced pre-production project at Lost Creek, Wyoming Completed licensing activities in October 2012 Initiated site construction in October 2012 First production forecast for mid 2013 Expanding resources through acquisition and exploration Definitive agreement to acquire Pathfinder Mines Corporation Continued expansion at the Lost Creek Property Secured revenue stream through long term sales agreements Exclusive marketing agreement with NuCore Maintaining a strong balance sheet $17 million top-up financing in February 2012 Advancing application for $34 million Wyoming Industrial RevenueBondSee Disclaimer re Forward-looking Statements and Projections (slide 3)NYSE MKT: URG TSX: URE 4 5. Ur-Energys Market PositionShare Capital & Cash PositionNYSE MKT: URGAs of 09/30/12Shares Outstanding 121.1MStock Options & RSUs 7.3MFully Diluted128.4MMarket Cap (01/14/13)C$109.02MCash (09/30/12) C$29.2M Cash per Share (09/30/12) ~C$0.241 Share Price (01/14/13) C$0.88 52 Week RangeC$.64 - $1.49 Avg. Daily Volume ~136,000 TSX: URE (3-mo URG & URE 01/14/13) Member of S&P/TSX SmallCap Index Geographical Distribution as of 6/30/12 United States~46% Canada ~40% Other~14%See Disclaimer re Forward-looking Statements and Projections (slide 3)NYSE MKT: URG TSX: URE 5 6. Analyst Coverage United States Roth Capital PartnersMichael Legg (New York, NY) 1.646.358.1917 Canada Dundee SecuritiesDavid A. Talbot (Toronto, ON) 1.416.350.3082 Haywood Securities Colin Healey (Vancouver, BC)1.604.697.7400 Raymond JamesDavid Sadowski (Vancouver, BC)1.604.659.8255 RBC CapitalAdam Schatzker (Toronto, ON)1.416.842.7850 Ur-Energy Inc. is followed by the analysts listed above. This list, including the firms and individual analysts at these firms, is subject to change at any time without notice. Please note that any opinions, estimates, forecasts, conclusions or recommendations regarding Ur-Energy Inc. performance made by these analysts are theirs alone and do not represent opinions, estimates, forecasts, conclusions, recommendations or predictions of Ur-Energy Inc. or its management. Ur-Energy Inc. does not by its reference above or in any other manner imply its endorsement of or concurrence with such information, conclusions or recommendations.NYSE MKT: URG TSX: URE6 7. Experienced Management Team Board of DirectorsExecutive Directors Wayne W. Heili, President & Chief Executive Officer (Metallurgical Engineer) Jeffrey T. Klenda,* Board Chairman, Executive Director (Mining Finance)Non-Executive Directors W. William Boberg,* Former President & CEO (Professional Geologist) James M. Franklin,* Chair-Technical Committee (Professional Geologist) Paul Macdonell,* Chair-Compensation and Corp. Governance & Nominating Committees(Senior Federal Mediator) Thomas H. Parker, Chair-Audit Committee (Professional Engineer)Officers Roger L. Smith, Chief Financial Officer & Chief Administrative Officer (CPA & MBA) Steven M. Hatten, VP Operations (Mining Engineer) John W. Cash, VP Regulatory Affairs, Exploration & Geology (Geologist & Geophysicist) Penne A. Goplerud, Corporate Secretary & General Counsel (JD)* Founding DirectorsNYSE MKT: URG TSX: URE7 8. Industry Leading Professionals Highly experienced technical and management team 150 years of direct uranium production experience ISR operations experience Nebraska, Texas, Wyoming & KazakhstanNYSE MKT: URG TSX: URE 8 9. Nuclear Fuel Demand is Growing 435 operable reactors world wide with 374 GWe capacity US NRC approved four new reactor licenses in 2012 First nuclear power plant licenses in 30+ years Seven new reactor construction starts in 2012 Russia - 1, China - 4, UAE - 1, South Korea - 1 Saudi Arabia & the United Kingdom combined have announced plans to build 24 new reactors Renewed prospect of restarting Japans reactor fleet with election of new pro-nuclear government late in 2012See Disclaimer re Forward-looking Statements and Projections (slide 3)NYSE MKT: URG TSX: URE 9 10. Global Supply Picture is Dynamic HEU agreement to expire this year Provides 13% of world and 45% of US annual supply Todays capital markets present a significant obstacle to development of new large scale mining centers Current uranium market price does not incentivize new supply development or sustain high cost conventional pr