Ur-Energy Inc. (NYSEAMERICAN:URG) is one of the best uranium stocks to buy according to Wall Street analysts. On April 23, Ur-Energy Inc. (NYSEAMERICAN:URG) said it had commenced uranium mining operations at its Shirley Basin ISR project in central Wyoming. This project is the company’s second active uranium mine in the United States.
The company detailed that the Shirley Basin project uses in situ recovery, or ISR, technology, which is a low-impact extraction method. ISR involves recovering uranium-bearing groundwater through a network of wells, which is then adsorbed onto on-site ion exchange resin columns, and then transported for further processing. Ur-Energy added that active uranium capture from Mine Unit 1 is already underway. Uranium concentrations in the recovered solutions are expected to rise gradually as the wellfield is conditioned and additional production circuits are brought fully online, the company stated.
Shirley Basin carries a licensed annual wellfield and toll processing capacity of up to 2 million pounds of triuranium octoxide, or U3O8, which is a stable chemical compound of uranium. The basin sits on measured and indicated mineral resources of approximately 9.1 million pounds of U3O8 at an average grade of 0.22%. It also has an anticipated mine life of about nine years across three shallow mining units.
Ur-Energy said the project holds historical significance because the Shirley Basin district is widely recognized as the birthplace of ISR uranium mining in the United States. This site had not seen active uranium production since 1992. The company acquired the site in 2013 as part of its purchase of Pathfinder Mines.
Ur-Energy Inc. (NYSEAMERICAN:URG) is a uranium mining company that explores, recovers, and processes uranium mineral properties in the United States. The company produces uranium concentrates used as fuel for nuclear power plants through low-cost in-situ recovery mining methods.
While we acknowledge the risk and potential of URG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than URG and that has 10,000% upside potential, check out our report about this cheapest AI stock.
READ NEXT: 10 Best AI Stocks to Buy for 2026 According to Billionaire David Tepper and 9 Best Green Energy Penny Stocks to Invest In.
Disclosure: None. Follow Insider Monkey on Google News.
My name is Inan Dogan. I’m the co-founder and Research Director of Insider Monkey. I have an important message for you today.