Ur-Energy one step closer to $34M in bonds
By Mark Wilcox
September 7, 2012 --
The Wyoming Business Council voted yesterday to support — contingent on positive asset appraisal on site — a $34 million bonding request from Lost Creek, ISR LLC and Ur-Energy Inc. for the proposed Lost Creek in-situ uranium recovery project.
The recommendation has been forwarded to the governor's office for approval. If approved, the Wyoming State Treasurer's Office will purchase the bonds for the project, which recently got its final environmental impact statement, a major obstacle to starting such a facility.
The bonding request hinges on the results of a $120,000 study commissioned by the WBC to evaluate the economics of the project and appraise the assets securing the bond. If the bonding goes forward after the study, the WBC will be reimbursed by Lost Creek/Ur-Energy for the cost of the contract.
Ur-Energy considers the property its flagship, and plans to be in production at the facility by summer of 2013.