Ur-Energy Receives Full-Scale Uranium Recovery Authorization for Shirley Basin Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 29 2026
0mins
Ur-Energy announced a significant regulatory milestone for its Shirley Basin Project. The Company has received final authorization from the Wyoming Department of Environmental Quality Uranium Recovery Program to advance from limited operations to full-scale uranium in situ recovery operations, including transport of uranium-loaded resin from its Shirley Basin ISR mine to the Company's Lost Creek processing facility. The authorization follows a comprehensive preoperational inspection conducted by WDEQ staff pursuant to Radioactive Materials License WYSUA-2010. The WDEQ verified that all required safety systems, operating procedures, staffing, radiation safety programs and environmental monitoring programs were sufficient for safe operations and protective of human health and the environment. Uranium recovery operations commenced at Shirley Basin in April 2026, and to date, an estimated 10,500 pounds of uranium have been loaded onto resin. Shipments of loaded resin to Lost Creek will commence in the coming weeks as wellfield flow rates are steadily increased to full commercial levels. The authorization advances Shirley Basin into full wellfield recovery operations and enables uranium-loaded resin to be transported to Lost Creek for final processing and recovery. By leveraging Lost Creek's established central processing plant for elution, precipitation, drying and drumming, Ur-Energy avoids duplicative infrastructure, improves capital efficiency and supports the scalable ramp-up of its second ISR operation.
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Analyst Views on URG
Wall Street analysts forecast URG stock price to rise
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 1.400
Low
2.00
Averages
2.31
High
2.60
Current: 1.400
Low
2.00
Averages
2.31
High
2.60
About URG
Ur-Energy Inc. is a uranium mining company. The Company is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. Its land portfolio in Wyoming includes 12 projects. 10 of these projects are in the Great Divide Basin (GDB), Wyoming, including its flagship project, Lost Creek Project. It controls nearly 1,800 unpatented mining claims and three State of Wyoming mineral leases for a total of approximately 35,400 acres at its Lost Creek Property, including the Lost Creek permit area (the Lost Creek Project or Lost Creek). The Lost Creek Property includes six contiguous Projects including Lost Creek Project, LC East Project, LC West Project, LC North Project, LC South Project and EN Project. Its Wyoming properties together total approximately 48,000 acres and include its Shirley Basin Project. The Company's subsidiary is Ur-Energy USA Inc.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Rules-Based Selection: The ETF's inclusion is based on rules rather than active selection, indicating that NUCL has met standards for liquidity and market capitalization, showcasing its potential and stability within the uranium mining sector.
- Uranium Market Recovery: With spot uranium prices rising above $100/lb and Western governments emphasizing nuclear energy and domestic fuel supply security, the overall re-rating of uranium stocks provides a favorable backdrop for NUCL's inclusion.
- Future Development Prospects: Eagle plans to conduct a Pre-Feasibility Study for its Aurora uranium project in the second half of 2027, and its focus on small modular reactor technology could present long-term growth opportunities, although challenges such as financing and permitting remain to be addressed.
See More
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- Milestone Inclusion: Eagle Nuclear Energy Corp (NASDAQ:NUCL) is now part of the Sprott Junior Uranium Miners ETF, a fund valued at approximately $347 million, marking a significant recognition in the uranium sector and attracting increased institutional investor interest.
- Rules-Based Inclusion: The ETF's inclusion is based on rules rather than discretionary selection, indicating that NUCL has met various standards for liquidity and market capitalization, showcasing its growth potential within the uranium mining industry.
- Changing Market Dynamics: With spot uranium prices rising above $100 per pound and Western governments emphasizing nuclear energy and domestic fuel supply security, the overall re-rating of uranium equities enhances NUCL's market position.
- Future Development Plans: Eagle Nuclear Energy plans to conduct a Pre-Feasibility Study for its Aurora uranium project in the second half of 2027, leveraging its status as the owner of the largest uranium deposit in the U.S., which is expected to provide long-term growth opportunities for the company.
See More
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- Stock Surge: Ur-Energy's shares soared 23% to $2.08 by Tuesday noon, reflecting strong investor confidence in the reshaping of the uranium supply chain, with a market cap of $679 million.
- Enrichment Facility Expansion: Urenco's announcement of a nearly 50% capacity expansion at the only commercial uranium enrichment facility in the U.S. represents a multi-billion-dollar investment that will provide domestic miners with a long-term customer, boosting Ur-Energy's market demand.
- Historic Mine Restart: Ur-Energy has resumed mining at its Shirley Basin project in Wyoming, marking the first extraction since the 1990s, which is expected to supply significant raw material for Urenco's enrichment needs.
- Optimistic Industry Outlook: With the U.S. set to ban all Russian uranium imports by 2028, Ur-Energy stands to become a key supplier in the domestic market, given its strategic assets in Wyoming, indicating a promising future for the company.
See More
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- Capacity Expansion: Urenco has announced a nearly 50% expansion of its uranium enrichment capacity at the only commercial facility in the U.S., which is expected to significantly enhance the stability of the uranium supply chain and provide long-term customers for domestic miners.
- Surge in Raw Material Demand: The expansion will require large amounts of processed raw uranium, directly benefiting Ur-Energy, which operates the Lost Creek and Shirley Basin projects in Wyoming that can meet this demand.
- Strong Market Reaction: Following the announcement, Ur-Energy's shares soared 23%, reflecting investor confidence in its potential as a uranium supplier, especially against the backdrop of the U.S. planning to ban all Russian uranium imports by 2028.
- Industry Turning Point: Urenco's expansion comes at a critical juncture for the U.S. uranium industry, positioning Ur-Energy to potentially become a key supplier in the domestic market, provided it can effectively execute its expansion plans.
See More
U.S. Equities Semi-Annual Rebalancing Begins
- New Additions: FTSE Russell's preliminary list indicates that McEwen Inc., Alto Ingredients, Ur-Energy, Hycroft Mining, and Aura Minerals will be added to the Russell 3000 Index, which is expected to enhance these companies' market visibility and liquidity.
- Market Adjustment: This rebalancing will take effect after the close of U.S. equity markets on June 26, signaling a reassessment of materials stocks that may influence investors' asset allocation strategies.
- Companies Removed: American Vanguard, Ascent Industries, and Solesence will be removed from the Russell 3000 Index, which could pressure their stock prices and diminish their appeal among investors.
- Expected Market Reaction: With the addition of new stocks and the removal of others, market volatility may ensue, prompting investors to monitor how these changes affect overall market sentiment and individual stock performance.
See More
Eagle Nuclear Energy Initiates Pre-Feasibility Study at Aurora Project
- Domestic Uranium Supply Chain: The U.S. consumes approximately 50 million pounds of uranium annually, with 95% imported; Eagle Nuclear Energy's Aurora project holds 32.75 million pounds of uranium resources, highlighting its strategic importance in the domestic supply chain.
- Drilling Program Launch: Eagle plans to commence a 27,000-foot drilling program in July 2026 aimed at addressing data gaps and advancing the Pre-Feasibility Study, which is expected to positively impact the regulatory process for U.S. uranium development.
- Environmental Baseline Studies: Prior to the drilling program, the company initiated environmental baseline studies in May 2026, which will support federal and state permitting interfaces, ensuring compliance and sustainability for the project.
- Strategic Partnerships and Policy Alignment: By joining the Uranium Producers of America in March 2026, Eagle demonstrates its engagement in domestic uranium policy discussions, while integrating Small Modular Reactor technology enhances its competitive edge in the nuclear energy sector.
See More
