Uranium-Energy 2025年度季度报告

UR-ENERGYINC. (Exact name of registrant as specified in its charter) Not Applicable(I.R.S. Employer Identification No.) Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes◻No☑ As of May 2, 2025, there were364,819,260shares of the registrant’s no par value Common Shares (“Common Shares”), theregistrant’s only outstanding class of voting securities, outstanding. PART I – FINANCIAL INFORMATION Item 1.Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures about Market RiskItem 4.Controls and Procedures PART II – OTHER INFORMATION Table of Contents When we use the terms “Ur-Energy,” “we,” “us,” or “our,” or the “Company” we are referring to Ur-EnergyInc. and its subsidiaries, unless the context otherwise requires. Throughout this document we makestatements that are classified as “forward-looking.” Please refer to the “Cautionary Statement Regarding Cautionary Statement Regarding Forward-Looking Information This report on Form10-Q contains "forward-looking statements" within the meaning of applicable United States(“U.S.”) and Canadian securities laws, and these forward-looking statements can be identified by the use ofwords such as "expect," "anticipate," "estimate," "believe," "may," "potential," "intends," "plans" and othersimilar expressions or statements that an action, event or result "may," "could" or "should" be taken, occur or beachieved, or the negative thereof or other similar statements. These statements are only predictions and involveknown and unknown risks, uncertainties and other factors which may cause our actual results, performance orachievements, or industry results, to be materially different from any future results, performance, or achievementsexpressed or implied by these forward-looking statements. Such statements include, but are not limited to: (i)theability to maintain safe and compliant operations at Lost Creek and Shirley Basin; (ii)our ability to reach andsustain steady state higher production levels at Lost Creek in a cost-effective manner; (iii)whether our currentprojections for buildout of Shirley Basin can to be achieved with respect to budget and timelines and whetherShirley Basin provides the diversity of production anticipated; (iv)our ability to timely deliver into ourcontractual obligations including sales deliveries and into the repayment of the physical inventory loan;(v)whether the Company continues as a leading U.S. uranium producer; the effects of continuing supply-chain,contractor and labor market challenges; (vi)whether we are able to proceed with the planned explorationprograms in 2025, and what the results may be; (vii) the effects of the current evolving uranium market, includingsupply and demand, and whether higher spot and term pricing will be sustained; (viii) whether global support fornuclear energy will be sustained and the impacts, if any, on the industries resulting from geopolitics, and tariffsand other trade matters; and (ix)what the results of the Section 232 investigation will be and what impacts thefindings and any resulting trade-related actions may have on the domestic uranium market including ourCompany.Additional factors include, among others, the following: future estimates for production;capital Cautionary Noteto Investors Concerning Disclosure of Mineral Resources Unless otherwise indicated, all mineral resource estimates included in this report on Form10-Q have beenprepared in accordance with U.S. securities laws pursuant to Regulation S-K, Subpart 1300 (“S-K 1300”). Priorto these estimates, we prepared our estimates of mineral resources in accord with Canadian National Instrument43-101Standards of Disclosure for Mineral Projects(“NI 43-101”) and the Canadian Institute of Mining,Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (“CIM DefinitionStandards”). NI 43-101 is a ruledeveloped by the Canadian Securities Administrators which establishes standardsfor public disclosure an issuer makes of scientific and technical informat