Ur Energy Uranium Production Nears

UR-ENERGY INC. (T-URE) $0.78 +0.03
UEX CORP. (T-UEX) $0.57 +0.03

David Talbot of Dundee Securities is probably the dean of the uranium analysts these days and is hopeful in the coming months that uranium will finally gain some favor in the markets.
For followers of uranium it will be interesting to see if the election in Japan on December 16th might be a turning point as once a new Premier is elected, we might see some of their many idle nukes turn back on…or not. For some Japanese citizens and industry are now having to pay big for having to import liquefied natural gas at inflated prices compared to the nukes that provide an energy relatively cheap. And hey, they are already paid for!
One of Talbot’s favorite stories he tells us is UR-Energy  which should be up and producing uranium after so many years work, sometime this  summer. And it should hopefully create a little joy in the markets.
But Talbot notes a wee problem. He writes, “UR-Energy is one of our preferred recommendations with a BUY and $2.30 share price target. Ur-Energy has become aware of a petition review filed in U.S. District Court against the US Bureau of Land Management (BLM) over its Record of Decision for the permit it provided to Ur Energy’s Lost Creek project. The petition was filed Friday (this is from Talbot’s notes of several weeks ago?) by the Biodiversity Conservation Alliance, a Laramie-based wildlife protection group. While unlike the BLM, Ur Energy was not named in the petition, the focus is obviously centered on BLM approval of its Lost Creek. The details within the filing are thin but they claim that the BLM  did not follow the Natural Environmental Policy Act.

The group claims that the BLM failed to abide by both a Wyoming executive order and the agency’s own sage grouse policy in approving plans for the site. This kind of stalling tactic almost seems to be normal course of business to hold up US uranium projects.”
He continues, “Construction activities are currently unaffected and continue as planned. We don’t expect the petition to affect the company or its development timeline as we believe the BLM completed exhaustive studies covering the sage grouse and other relevant environmental factors.”
Ah yes, the sage grouse (prairie chicken).

In case you are  curious, the sage grouse is one of the biggest grouse out there, but a tad unique in that it has to stay close to an environment that has sage brush as its main source of food..

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