Ur-Energy Inc (URG) Q3 2026 Earnings Call Transcript

Welcome to the Year Energy's Third Quarter 2026 Earnings and Operations Conference Call. At this time, all participants are on a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note that this conference is being recorded. I will now turn the conference over to your Energy's General Counsel and Corporate Secretary, Alex Ritchie. You may begin.

Today's discussion includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results to differ materially. We do not undertake to update or revise any forward-looking statements Except as required by law. Today's presentation includes disclaimers related to forward-looking statements, risk factors, and projections, along with cautionary notes to investors. Please review these carefully, together with the risk factors described in our Form 10-Q, our Form 10-K, and our other public filings with the SEC and Canadian securities regulators. I will now turn the call over to our president and CEO, Matt Gilley.

Thank you, Alex, and thanks to all of you who joined us today. The market backdrop supports UR Energy's disciplined development of a domestic district-scale ISR platform. Let me begin with the broader market backdrop. We see several powerful long-term drivers for nuclear energy and uranium. Global nuclear generating capacity is projected to nearly double by 2040. At the same time, the industry faces a widening structural gap between anticipated uranium demand and supply. Here in the United States, energy security is increasing the focus on domestic uranium production and more secure fuel supply chains. That is the opportunity we are building toward at UR Energy, America's first district-scale ISR uranium operation, with aggressive growth driven by disciplined, capital-efficient development. Operationally, your energy is focused on optimization as we advance production ramp-up at Lost Creek and Shirley Basin. Our year-over-year results reflect this progress. Turning to our third quarter results, we continue to make progress across our operations as we focus on optimization and advancing production at both Lost Creek and Shirley Basin. During the quarter, we delivered 190...