One step at a time. $1 price target points to 28% upside.
" The Company is most actively pursuing funding through the
State of Wyoming’s Industrial Development Bond financing program, while continuing its evaluation of additional opportunities."
Great News for URG:
On March 1, 2013 the U.S. District Court for Wyoming denied the petitioner's motion for preliminary injunction, which had sought to halt the ongoing construction and operations at the Lost Creek Project. In a 24-page order, the Court determined that the petitioner failed to satisfy any of the legal elements required to obtain the injunction. In making the determination, the Court recognized the comprehensive five-year, multi-agency regulatory approval process conducted for the Lost Creek Project and the substantial progress of construction at the Project prior to the initiation of the legal challenge. The Court's order also includes a detailed finding that the petitioner "has not shown a substantial likelihood of success on the merits" of the case requesting the review of the BLM Record of Decision. With the Court's order, Ur-Energy will continue construction at the Lost Creek Project as planned while the formal merits review of the BLM Record of Decision proceeds.
Ur-Energy President and CEO Wayne Heili commented, "The Company is glad to receive the Court confirmation that our construction activities may continue at Lost Creek. I am very pleased with the steady progress made at the Project site and the focus and professionalism shown by the Ur-Energy team throughout the construction effort. Our team and the selected contractors have worked diligently to maintain the schedule we set out. We look forward to achieving first production at Lost Creek later this year."
At the Lost Creek Plant, the foundation work is complete, the large equipment has been set in place, and the building exterior is fully enclosed. Multiple trades are currently working on the interior of the plant facilities. The development of the first mine unit and other auxiliary facilities also remain on schedule. Photographs of the progress of construction at Lost Creek are available at our website:
Since the recent selloff, the stock has gone gradually up from around 75 cents to 90 cents. Hopefully good news is coming.