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Uranerz Energy Corp.

TICKER: URZ:TSX; URZ:NYSE.MKT

Uranerz Energy Corporation is a U.S.-based uranium company focusing on near-term, commercial in-situ recovery (ISR) production in Wyoming—the country's largest uranium-producing state. Its management team has specialized expertise in the ISR uranium-mining method and has an excellent track record of licensing, constructing and operating commercial ISR uranium projects. Uranerz has already entered into long-term uranium sales contracts with two of the largest nuclear utilities in the U.S., including Exelon.

Corporate Presentation (1/11/11)


The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

The Energy Report Interview with David Talbot (10/16/14) "Investors might be interested in a couple of U.S. ISR producers in the sweet spot of the development cycle. The exploration, development, permitting and financing of their new mines are complete, and they're in the process of ramping up initial production. Ur-Energy started up last year, and Uranerz Energy Corp. started up recently. Companies like these are, hopefully, going to provide increasing cash flow. That's useful for investors." More >

Jeb Handwerger, Gold Stock Trades (9/17/14) "Uranerz Energy Corp. just announced its first sale of 75 Klb uranium from Nichols Ranch in Wyoming into long-term contracts with nuclear utilities; 2014 has been a transformational year for the company as it started uranium production and is now generating cash flow."

Colin Healey, Haywood Securities (9/16/14) "Uranerz Energy Corp. announced the completion of its first sale of drummed U3O8 concentrate from Nichols Ranch, representing a portion of expected 2014 sales under contract to utility customers. . .we expect the company's 2014 contract sales to achieve a significant premium to current prevailing market prices and project these initial sales to generate in excess of $4M in revenue. . .this sale is a major milestone as Uranerz progresses through the ramp-up phase."

Devon Shire, Seeking Alpha (9/4/14) "Uranerz Energy Corp. just commenced first production, and has a management group that has an established background in this industry. As a small producer with $35/lb operating costs, the company provides big leverage to rising uranium prices."

David Talbot, Dundee Capital Markets (9/4/14) "Uranerz Energy Corp. announced first delivery yesterday from its Nichols Ranch in-situ reserve project in Wyoming. . .the company's balance sheet is improved; it reported a Q2/14 cash position of $2.9M, and $20M debt. Subsequently, the company raised $12M in July at US$1.25/share. . .Uranerz has always maintained a premium multiple in the sector, possibly because of its potentially extensive project pipeline."

more comments

Mike Wichterle, Cantor Fitzgerald (9/3/14) "Uranerz Energy Corp. announced that it has delivered its first drums of uranium produced from its wholly owned Nichols Ranch in-situ recovery uranium project in the Powder River Basin of Wyoming. . .this is a milestone event for Uranerz, as the shipment of approximately 36 Klb was received at ConverDyn's Metropolis Works facility, for subsequent transfer to second sales agreement with another major U.S. utility later this year. . .the shipment takes the company closer to recording its first recorded sales transaction."

Colin Healey, Haywood Securities (9/2/14) "Uranerz Energy Corp. commenced uranium production operations at the Nichols Ranch facility and well field in mid-April 2014, and we expect the company to continue to ramp-up operations and production levels over the next 18 months. . .news of first delivery [of drummed U308 concentrate] confirms the functionality of Uranerz's logistics chain and capability to generate saleable uranium concentrate from its new mine, processing facilities and partners."

Colin Healey, Haywood Securities (8/12/14) "In the ramp-up of initial mining activities through Q2/14, Uranerz Energy Corp. reports production of around 20 Klb U3O8, as it continues to accumulate inventory for first sales. The company expects to book first sales toward the end of Q3/14. . .we maintain our $1.80 price target and Buy rating."

Investors Guru (8/11/14) "Uranerz Energy Corp. is now cashed up to more than it wanted to fund without adding any debt. The company has been ramping up production without a hiccup since mid-April and is regularly trucking uranium-loaded resin to Cameco Corp.'s nearby plant. . .in a month or so, we should see Uranerz report its first sale, adding even more to its now $15M+ treasury."

Chris Chang, Laurentian Bank Securities (7/29/14) "After Uranerz Energy Corp. completed the $12M financing, we forecast total cash of $12M at the end of Q3/14. . .the company is nearing completion of the commissioning phase at Nichols Ranch with flow rates from the production wells outperforming initial estimates."

Jeb Handwerger, Gold Stock Trades (7/16/14) "Uranerz Energy Corp. is just beginning low cost in-situ production in the Powder River Basin, Wyoming. It has processing agreements with Cameco Corp. and offtakes with some of the largest U.S. utilities. It just announced a $10M financing and should pull back, providing an additional buying opportunity."

David Talbot, Dundee Capital Markets (7/14/14) "Uranerz Energy Corp.'s new personnel is a strong signal for future growth. . .uranium is now being delivered regularly to Cameco Corp., flow rates are high and uranium concentrations in the plant are increasing. This is helping derisk the company from both financial and technical viewpoints."

The Energy Report Interview with Jeb Handwerger (7/10/14) "The companies outperforming in the uranium mining space that have not hit new lows have been the lower-cost producers, the in situ miners in the U.S., such as Uranerz Energy Corp. . .Uranerz has already has secured long-term offtake arrangements with some of the largest U.S. utilities. It is just coming into production, and is planning a third production center that will add more feed to the Nichols Ranch project. Management was smart enough to secure a long-term offtake arrangement with utilities at much higher prices. . .the company announced in the middle of June that it sent its first resin shipment to Cameco's Smith Ranch facility for final processing into uranium concentrate. This is very significant. The next step is making its first delivery of uranium to the conversion facility, where the customers will take ownership of the product. Uranerz stock hit a low in 2013 at around $0.85/share. It is trading currently around $1.50/share, from a high of about $1.90/share. In a space where many companies have come back to their lows, Uranerz is maintaining its uptrend, because it is one of the few uranium miners actually performing." More >

The Mining Report Interview with Chris Berry (6/17/14) "Uranerz Energy Corp. is an in-situ plays in Wyoming. I'm still comfortable with uranium at $28/lb. The company has off-take partners in place at higher prices, so its low-cost production profile allows it the flexibility to produce when other companies in the uranium sector are unable to do so." More >

Colin Healey, Haywood Securities (6/16/14) "Uranerz Energy Corp. has announced its milestone first shipment of uranium-loaded resin from its Nichols Ranch in situ recovery operation in the Powder River basin, Wyo., to Cameco Corp.'s nearby Smith Ranch facility. . .the company is expected to continue to ship loaded resins to the Smith Ranch facility throughout 2014. Once sufficient final product has been amassed, we expect Uranerz to make its first delivery and sale to a customer, likely in Q3/14."

Raymond Goldie, Salman Partners (6/16/14) "This morning, Uranerz Energy Corp. announced that it had sent its first shipment of uranium-loaded resin from Nichols Ranch to Cameco Corp. for final processing into uranium concentrates pursuant to a toll processing agreement between the two companies. . .the company has entered into long-term uranium sales contracts for a portion of its planned production with Exelon Corporation and one other of the largest nuclear utilities in the country."

Rob Chang, Cantor Fitzgerald (6/16/14) "Uranerz Energy Corp. has announced that it has sent its first shipment of uranium-loaded resin from the Nichols Ranch in-situ reserve project to Cameco Corp.' s Smith Ranch uranium processing facilities for final processing into uranium concentrates. . .this is a milestone event for Uranerz, as it represents the very first of many resin shipments to come."

Jeb Handwerger, Gold Stock Trades (5/27/14) "I expect Uranerz Energy Corp. to profit nicely as the uranium market comes back into favor. It has great growth aspects as it just announced its third planned production center at Jane Dough, which will add more feed to the Nichols Ranch in situ recovery facility. . .I expect to hear news that the company has made its first sale of yellowcake uranium this summer."

Stone Fox Capital, Seeking Alpha (5/27/14) "Uranerz Energy Corp. makes for an interesting play with uranium prices trading at near-decade lows, and the company recently starting up initial production. The combination doesn't appear ideal, but some under-the-surface catalysts suggest Uranerz hitting full stride by 2016 is an optimal scenario. . .the stock is very attractive at current, depressed prices."

Colin Healey, Haywood Securities (5/21/14) "Uranerz Energy Corp. continues to advance its project pipeline with the Jane Dough group of projects representing the company's third planned production center feeding the central Nichols Ranch in situ recovery (ISR) uranium processing facility. Uranerz has submitted a source materials license application to the U.S. Nuclear Regulatory Commission, for amendment to the existing Nichols Ranch ISR uranium project license to include the third planned production center."

Jeff Wright, H.C. Wainwright & Co. (5/14/14) "Uranerz Energy Corp. is making firm progress towards production and its milestone first sale of yellowcake uranium. We estimate the company to reach this achievement in June, 2014 and then ramp up production at Lost Creek afterwards to meet long term sales contracts. . .we are reiterating our Buy recommendation."

Colin Healey, Haywood Securities (5/12/14) "Uranerz Energy Corp. exited Q1/14 (ended March 31) with $6.8M in cash and $6.2M in working capital, which should be sufficient to see it through to first sales, which are expected by mid-year. . .for the remainder of 2014, the company will focus on production ramp-up and further well field development at Nichols Ranch."

SmallCapPower.com Interview with Chris Berry (5/7/14) "In the uranium space, there's a company called Uranerz Energy Corp.; a brand new production story is actually how I would phrase it. The company is producing uranium from an in situ recovery process in Wyoming so very low costs relative to some of the hard rock mining plays."

The Mining Report Interview with Malcolm Shaw (5/6/14) "In terms of domestic companies that are active, we're looking for producers like Uranerz Energy Corp. . .the company is pretty advanced. It has production and is well financed, but again, equity prices aren't reflecting the underlying value of the assets if you believe in a higher uranium price in the long term." More >

Investors Guru (4/17/14) "It's official, Uranerz Energy Corp. has graduated from the exploration to development to now the production stage. Nuclear Regulatory Commission inspections have concluded and Uranerz has been approved as the United States' newest uranium producer. . .this is a major accomplishment and a testament to the company's management skills, as only a small percentage of mining companies ever make it to the production stage."

The Energy Report Interview with Michael Berry (4/17/14) "One company with the in situ leach advantage is Uranerz Energy Corp. It recently announced that the NRC has allowed Uranerz to commence production at Nichols Ranch in Wyoming. Production means cash flows and liquidity." More >

David Talbot, Dundee Capital Markets (4/16/14) "Expect Uranerz Energy Corp. stock to perform well as mining begins at Nichols Ranch. . .the company has received its Nuclear Regulatory Commission preoperation clearance and announced the start of mining at its Nichols Ranch in-situ reserve mine in Wyoming. Construction has been completed as this becomes the newest uranium mine in the U.S. A long‐time coming, and perhaps couple of months behind schedule, but we obviously view this as positive."

Colin Healey, Haywood Securities (4/16/14) "With receipt of final clearance from the U.S. Nuclear Regulatory Commission, Uranerz Energy Corp. has commenced uranium production activities at its Nichols Ranch in situ recovery project in Wyoming, marking a major milestone for the company. . .Uranerz emerging from this process sheds significant regulatory risk and is unquestionably positive. . .we continue to expect first sales and revenues in mid-2014."

Rob Chang, Cantor Fitzgerald (4/15/14) "Uranerz Energy Corp. has announced that after receiving final approval from the Nuclear Regulatory Commission, it has commenced production at its 100%-owned Nichols Ranch uranium in-situ recovery project located in the Powder River Basin in Wyoming. . .the news is very positive—Uranerz joins a very limited global group of publicly listed, uranium-focused producers, whose rank now grows to just six. Moreover, the fact that Uranerz is one of only five in this group that produces within the U.S., and we believe domestic U.S. producers will eventually command a premium as security of supply concerns come to the fore."

Rob Chang, Cantor Fitzgerald (4/3/14) "All necessary permits for uranium production at Uranerz Energy Corp's Nichols Ranch (Wyoming) have been received. . .Nichols Ranch is licensed for a maximum annual production level of 2Mlb/year U3O8. Further pipeline projects include Hank and Jane Doe (among others). . .offtakes have already been signed with two major U.S. nuclear operators, including Exelon Corp., which operates the third largest nuclear fleet in the world (while being the largest in the U.S.). All agreements are long term in nature with deliveries over four to five year periods."

Chris Berry, Disruptive Discoveries Journal (4/2/14) "In the face of a weak spot and forward price environment for U3O8, I continue to believe the low-cost, in-situ recovery producers offer the highest acceptable leverage to the price and sufficient safety based on near-term or immediate cash flow; Uranerz Energy Corp. is a prime example."

Ross Silver, Vista Partners (3/26/14) "We initiate coverage on Uranerz Energy Corp. Its management team has specialized expertise in the in-situ recovery (ISR) uranium mining method, and has a successful track record of licensing, constructing, and operating ISR uranium projects. . .the United States Nuclear Regulatory Commission is expected to reissue the license to mine for Uranerz's Nichols Ranch operations in the near future. This may serve as a near-term catalyst considering there are only five uranium-focused, publicly traded producers globally. . .the company's offtake agreements are for prices approximately 50% higher than the current market price of uranium.

Rob Chang, Cantor Fitzgerald (3/25/14) "The Nuclear Regulatory Commission is expected to reissue the license to mine for Uranerz Energy Corp.'s Nichols Ranch operations any day now. The company will soon be the newest member of a very select group of publicly traded, uranium-focused producers in the world. . .we are increasing our target price to $2.10/share to reflect model adjustments and maintain our Buy recommendation on Uranerz."

The Mining Report Interview with Jeb Handwerger (3/18/14) "Uranerz Energy Corp. already has offtake agreements at higher uranium prices. It can afford to begin production. . .Uranerz is an in-situ mine so it's lower cost. It can afford to begin production now because it has offtake agreements. . .right now, you can get in at eight-year lows on the top uranium assets that are in the control of the juniors. Uranerz Energy has some of the top assets in the Powder River Basin that are coming into production." More >

Colin Healey, Haywood Securities (3/17/14) "Uranerz Energy Corp.'s transition to producer is imminent. . .the company released FY/13 results for the year ended December 31st, 2013. . .the company's cash and working capital positions at December 31st, 2013, were US$11.9M and US$11.1M respectively, which we believe to be sufficient as it enters production."

Sheldon Modeland, Edison Investment Research (2/25/14) "Uranerz Energy Corp. has all of the necessary permits and funding required for production at its Nichols Ranch ISR project; the newly built ISR plant and adjacent well field have been essentially completed with only final adjustments being made to the automated control systems. On completion of a pre-operational inspection, Uranerz is poised to be the next U.S. uranium producer; with a highly experienced management and operations team in place, we expect Uranerz to achieve production during Q1/14; with signed long-term offtake agreements, the company is well-positioned to weather the market downturn."

The Energy Report Interview with David Talbot (2/20/14) "Newer companies like Uranerz Energy Corp. look exciting to us." More >

Chris Berry, Disruptive Discoveries Journal (2/12/14) "I continue to believe that stories like and Uranerz Energy Corp. require your attention as [it is a] well-run company that offers the ability to produce uranium at a low cost in a reliable geopolitical jurisdiction. . .as production commences soon. . .cash-flow generation and low operating costs should lead to higher share prices."

Laurentian Bank Securities (1/30/14) "We have updated our estimates on Uranerz Energy Corp. to reflect our higher near-term uranium price forecast; we anticipate Uranerz to produce an average life of mine annual production of 1 Mlb of uranium at an average cash operating cost of US$33/lb over a 13-year mine life. . .Uranerz announced that it had completed the infrastructure, electrical hook up and initial testing of two deep disposal wells that are now ready for use at the Nichols Ranch ISR facility. . .our Buy rating is supported by the company’s near-term production rerating and improving uranium fundamentals."

Jeb Handwerger, Gold Stock Trades (1/28/14) "With the recent closing of the $20M State of Wyoming loan, keep a close eye on Uranerz Energy Corp., which has all the permits and financing to begin production at its Nichols Ranch In Situ Uranium mine. . .the company has attractive offtake contracts with some of the largest U.S. utilities and is undervalued compared to its peers. . .as Uranerz moves into production in Q1/14, I believe the shares could be rerated higher as it begins to generate revenues and attract value investors. With a low uranium spot price Uranerz has the advantage of having offtake contracts at higher prices."

Ivan Lo, The Equedia Weekly Letter (1/19/14) "Uranium will be one of the hottest commodities this year. . .Uranerz Energy Corp. is now up over 60% since November 21, 2013. But the sector explosion is just starting to heat up, which means the upside for uranium and uranium stocks could be huge."

Lawrence Roulston, Resource Opportunities (1/14/14) "Uranerz Energy Corp. expects to begin producing uranium before the end of Q1/14. The facilities are substantially completed, with the start of production subject only to completion of final inspections. . .the company's shares should continue to move higher as the project moves closer to production."

Colin Healey, Haywood Securities (1/10/14) "Uranerz Energy Corp. continues to make progress at its fully permitted Nichols Ranch in-situ reserve uranium project, tracking for production in Q1/14. The completion and Environmental Protection Agency approval of both deep disposal wells is positive."

David Talbot, Dundee Capital Markets (1/9/14) "The building of infrastructure and testing of two deep disposal wells (DDW) at its flagship Nichols Ranch project, Wyo., has been completed; all necessary permits and approvals for production, including Environmental Protection Agency concurrence for its second DDW, are complete. Only preoperational inspection remains before startup. . .we expect well fields to turn on shortly."

Kiran Pande, Seeking Alpha (1/2/14) "I can't say I've ever seen an opportunity as promising as Uranerz Energy Corp. in the context of the wide-open uranium industry. . .uranium has a good chance to be the top dog of 2014, with Uranerz at the helm. . .impending catalysts in global supply and demand of uranium, coupled with substantial accumulated tax credit and recent strategic moves by Uranerz, make the company my top pick for 2014. . .conditions are right for uranium to double or even triple in 2014 alone. If this is the case, investors will have no problem bidding up Uranerz shares to several times its current price."

Chris Berry, Disruptive Discoveries Journal (12/13/13) "The most profitable niche in uranium currently is near-term uranium production. . .Uranerz Energy Corp. is an example of one such company and I anticipate cash flow for the company later in 2014; due to its mining method (in-situ recovery), uranium can be extracted at a much lower cost versus conventional hard rock mining methods. As a believer that the lowest cost producer "always wins," Uranerz can count itself in this class and offers investors an opportunity to gain from what I think will be an improving outlook for uranium in 2014 and beyond."

The Mining Report Interview with Jeb Handwerger (12/10/13) "One of the best [near-term uranium producers] is Uranerz Energy Corp., which just closed on a $20 million loan from the state of Wyoming and announced a new president that came from Cameco. I like its strategic land position in the Powder River Basin. Uranerz is coming into production and should be a takeout target. It has offtake arrangements with some of the largest nuclear utilities in the U.S. It has a processing agreement with Cameco. It should be in construction in Q1/14 with the help of the recently closed low-cost loan from the state of Wyoming. It will be one of the few juniors that will be able to bring in some revenue and sales in a commodity that's highly in demand." More >

Chris Chang, Laurentian Bank Securities (12/4/13) "We are pleasantly surprised that Uranerz Energy Corp. was able to close its Wyoming Industrial Development Revenue Bond prior to year-end 2013. This removes the financing overhang on the shares. . .we are maintaining our Buy recommendation."

David Talbot, Dundee Capital Markets (12/4/13) "We recommend Uranerz Energy Corp. as a Buy. . .we are starting to see momentum for the stock as production nears and it seems to be experiencing a similar rerating as we saw for its peers. The company is up 36% since Nov. 1, has completed its disposal well drilling, received its $20M Wyoming Industrial bond and has hired the very experienced Paul Goranson to oversee operations."

Rob Chang, Cantor Fitzgerald (12/4/13) "Uranerz Energy Corp. announced the closing of a $20M loan through the Wyoming Industrial Development Revenue Bond program, which clears a major milestone for the company as it provides added liquidity and flexibility as construction at Nichols Ranch nears completion. . .concurrent with the closing of the aforementioned loan, Uranerz fully repaid its approximately $6M short-term indebtedness, arranged in June 2013. Considering the new loan in conjunction with a $10M bought-deal financing that closed in early September, Uranerz now has sufficient funding to initiate production at Nichols Ranch."

Colin Healey, Haywood Securities (12/3/13) "Uranerz Energy Corp. has closed the $20M Wyoming state bond debt financing for the advancement of its flagship Nichols Ranch in-situ recovery (ISR) uranium project in Wyoming. The company has retired its outstanding ~$6M bridge loan maturing Dec. 31, 2013. . .for the remainder of 2013, Uranerz will continue to focus on completion of construction and commissioning of the Nichols Ranch ISR uranium project, and submitting a mine application with the U.S. Nuclear Regulatory Commission and the Wyoming Department of Environmental Quality for its Jane Dough property."

Colin Healey, Haywood Securities (12/2/13) "Uranerz Energy Corp. fortified its executive team by hiring its new president, director and COO, Paul Goranson. . .Goranson boasts an enviable resume of in-situ reserve (ISR) and conventional uranium mining experience in high-level roles with both majors and juniors across the operating spectrum, from development and construction to production, strategy and marketing. He was most recently the president of Cameco Resources Corp., overseeing United States ISR uranium production operations in Wyoming and Nebraska, which makes him an ideal appointment to lead Uranerz into production."

Ivan Lo, The Equedia Letter (12/1/13) "Uranerz Energy Corp. is currently waiting on a Wyoming state loan of US$20M and I suspect this financing risk remains one of the biggest reasons why company shares have been suppressed (despite being the share price leader in the space over the last two weeks). . .the state has strong intentions to move uranium production forward. I suspect that Uranerz shouldn't have an issue getting its loan approved. . .keep a very close eye on the company and the uranium sector as a whole."

Ivan Lo, The Equedia Weekly Letter (11/24/13) "America needs desperately to start producing more uranium immediately on its home turf. . .in [the uranium] sector, there is one company that stands out. . .Uranerz Energy Corp. is focused on near-term commercial ISR uranium production and is currently constructing its first ISR mine in the Powder River Basin of Wyoming. . .this Friday, many uranium stocks climbed; however, none more so than Uranerz Energy, which climbed nearly 17%. This shows that Uranerz is one of the better leverage plays to uranium prices."

Colin Healey, Haywood Securities (11/13/13) "Uranerz Energy Corp.'s Q3/13 results reveal no surprises—we continue to look for close of the Wyoming State Bond by year-end. . .we believe that Uranerz can commence pre-commercial uranium production in the Q4/13 via ISR mining in Wyoming, and as such will join a select group of U.S.-based producers. The management team has extensive experience with the successful permitting, development and operation of ISR facilities in Kazakhstan and the U.S., including Wyoming; Uranerz is well positioned to take full advantage of the uranium market for the long term due to its strategic land holding in the Powder River Basin combined with aggressive development and exploration programs."

The Mining Report Interview with Chris Berry (11/5/13) "A current favorite uranium junior is Uranerz Energy Corp. The company anticipates production in Wyoming within a year. It has three five-year offtake contracts in place with two separate operators. So once production commences, cash flow will follow. The exact prices Uranerz will receive are confidential, but even at current long term contract prices of $50, Uranerz can operate profitably. Because this is in-situ mining, the cost of production and environmental impact is much lower relative to traditional mining methods. A company like Uranerz can exist and thrive in a low uranium price environment. Any uptick in the uranium price provides leverage. That should add to the company's margins and, as contracts lapse and are re-negotiated, should encourage a higher share price in the future." More >

Rick Mills, Resource Investor (10/29/13) "Uranerz Energy Corp. is uniquely placed in the uranium mining industry for several reasons: 1.) Current spot prices for uranium are US$35.25 but because of its long term sales contract, the company has five years (its long-term sales contract, at my guesstimated $50/lb, runs for another five years) to weather out the current low uranium price, 2.) Its shortly going to be cash flow positive, 3.) Its able to build up its treasury and 4.) The company is ready to ramp-up production and take advantage of what will be a rising uranium price in the future. Uranerz is one heck of an interesting, and in my opinion, investable story that should be on everyone's radar screen."

Michael Berry, Disruptive Discoveries Journal (10/9/13) "If you must invest in juniors, I still believe that those near-term production stories that are also lowest cost producers offer the best chance for outsized returns over the long term. This would include plays such as Uranerz Energy Corp. . .the low cost of production is perhaps the best insulation against volatility in price movements."

Jeb Handwerger, Gold Stock Trades (10/2/13) "Uranerz Energy Corp. is coming into production in early 2014 in the Powder River Basin in Wyoming. Uranerz has already signed offtake agreements with some of the largest U.S. utilities at much higher prices. . .the state of Wyoming will hopefully issue a $20M loan to complete construction soon. Uranerz's mine should start producing close to a million pounds of yellowcake a year."

The Metals Report Interview with Rick Mills (10/1/13) "Uranerz Energy Corp. is in Wyoming and the company will be going into production soon. It's a no brainer, as far as I'm concerned. You've got a well-run company that will be producing uranium in the States. Uranerz significant offtake agreements and Cameco is going to be processing the resin for the company." More >

Colin Healey, Resource Investing News (9/26/13) "Advanced uranium project developers in the U.S. include. . .Uranerz Energy Corp. . .completing construction of [its] in-situ recovery uranium facility in Wyoming and aiming to be in production in the coming year."

Jeff Wright, H.C. Wainwright & Co. (9/24/13) "We are initiating coverage of Uranerz Energy Corp. with a Buy rating. . .we believe the company will reach initial production in late 2013 and begin to supply U3O8 to the domestic market in 2014. Uranerz is in a unique position with the Nichols Ranch in-situ reserve project and has leveraged its relationship with Cameco Corp. in order to achieve production with a much lower capital budget and operational requirements. . .once in production, we believe Uranerz can achieve operational profitability in short order."

Chris Chang, Laurentian Bank Securities (9/17/13) "We have updated our estimates for Uranerz Energy Corp. post the recently completed US$10M equity financing. . .the financing enables Uranerz to continue construction of Nichols Ranch. . .in 2014, we anticipate modest production of only 250 Klbs of U3O8 as the operation ramps up to full production. We forecast markedly improved production of 666 Llbs of U3O8 in 2015 as Nichols Ranch operates at design capacity."

Colin Healey, Haywood Securities (9/9/13) "Uranerz Energy Corp.'s closing of $10M financing ensures the continuity of construction at Nichols Ranch. . .the company continues to work with state administrators to complete documentation for the closing of the $20M loan under the Wyoming Industrial Development Revenue Bond Program, with issuance anticipated in the third quarter of this year. We continue to model the successful completion of the Wyoming bond and a further $15M debt financing in 2014 to support working capital and to fund the next phase of capital expenditure and continued wellfield development."

Ivan Lo, Equedia (9/8/13) "Uranerz Energy Corp. is set to move into production around the same time the highly enriched uranium contract is up. The company just announced it has closed a $10M financing. .once financing is in place and production starts, the risks of dilution may be removed. . .a $20M loan under the state of Wyoming's Industrial Development Revenue Bond program is expected to close over the next month or so. . .Uranerz is now trading well-below both its 50 and 200-day moving average, and the RSI indicator is now at 32. 79. From a technical standpoint, it shows that Uranerz may not only be oversold but may be looking for a bounce back."

Itinerant, Seeking Alpha (9/1/13) "Uranerz Energy Corp. has a toll processing agreement with Cameco whereby Uranerz will deliver loaded resin to Cameco's Smith Ranch facility and have it refined into Yellowcake there. This arrangement reduces execution risk and initial capex and it should also lower production costs, especially during ramp-up. . .Uranerz is nearing first production at the Nichols Ranch in-situ reserve facility; provided the company finally receives funding from the industrial bond program, the project should be financed to first production and beyond."

Investors Guru (8/12/13) "Uranerz Uranium Corp. has to complete two Deep Disposal Wells (DDW) prior to commencing production at its first ISR uranium mine; to prevent mine construction from slowing down—while Uranerz waits for an approved $20M low-interest state loan to be fully processed—the company received a $6M bridge loan in June. . .we were pleasantly surprised on July 25 with Uranerz' Corporate Update—that the first well had already been drilled, and that drilling has started at the second well. Completion of both wells will take around five months, with production expected later this year or early 2014."

Equedia (8/11/13) "Uranerz Energy Corp. will come out of the production gates with much stronger revenues than the average in-situ reserve projects in the U.S., and thus should have better margins than its peers. . .its total resource base (Measured and Indicated plus Inferred) has nearly twice the grade of the total resource base of their nearest U.S. publicly traded competitors. . .Uranerz owns one of the biggest land positions in the Powder River Basin. . .and should be ready for production around the same time the Megatons to Megawatts expires."

The Energy Report Interview with David Talbot (8/1/13) "I went back to Wyoming in July and saw Ur-Energy's Inc.'s Lost Creek mine. . .Uranerz runs a bit different model, permitting smaller deposits and only constructing the frontend of the plant. It plans to toll process its resin at Cameco's Smith Ranch facility where Cameco will take that loaded resin, precipitate the uranium, dry and package it. This arrangement benefits Uranerz by minimizing start up risks and saving capital through deferred completion of its own mill, and may even save on operating costs. Uranerz just started construction of two deep disposal wells at about $3M each; it will need these wells before production can start. We expect about 500 Klb of production next year with total cash costs of around $37/lb." More >

Jeb Handwerger, Gold Stock Trades (7/26/13) "Uranerz Energy Corp. is planning to start producing uranium at the end of this year or in early 2014 at their Nichols Ranch in the Powder River Basin in Wyoming. The company has contracts with major U.S. utilities to sell uranium at much higher uranium prices; this gives the company some certainty that there will be some positive cash flow as they move into production. Uranerz has an enviable and strategic position in the Powder River Basin in Wyoming, which hosts the largest producing uranium mine in the U.S."

Colin Healey, Haywood Securities (7/25/13) "Today's corporate update reinforces what we have witnessed on the recent site visit to Uranerz Energy Corp.'s Nichols Ranch, namely excellent progress both on the plant and wellfield is evident and deep disposal well work is advancing. . .at the current rate, we continue to believe first production in early CY Q1/14 is achievable."

The Energy Report Interview with Jeb Handwerger (7/23/13) "Uranerz Energy Corp. [is a] companies we like in Wyoming. . .I'm focused on Uranerz right now, as I believe it is undervalued for the strategic land position it has. Uranerz is in the construction phase of its Nichols Ranch project in the Powder River Basin. I like the company because it already has agreements with two major utilities. Uranerz is going to take out its resin and transport it to Smith Ranch-Highland, where Cameco's going to process it. Uranerz has a strategic position between Cameco and Uranium One." More >

Chris Chang, Laurentian Bank Securities (7/19/13) "While near-term uranium sentiment remains weak, investors continue to have strong conviction based on longer-term fundamentals. . .should Uranerz Energy Corp. secure its loan by late Q3/13, the company anticipates startup in Q1/14 with forecast production ranging from 350–400 Klb U3O8 for the year. . .we are maintaining our Buy rating."

David Talbot, Dundee Capital Markets (7/15/13) "We recommend Uranerz Energy Corp. as a Buy. . .on July 11, Dundee made another visit to Uranerz's 100% owned Nichols Ranch ISR mine in Wyoming. The plant is in the final construction stages. . .overall, we were impressed with many aspects of the site visit and discussions with management."

The Energy Report Interview with Chris Berry (6/13/13) "Another company I am following and own shares in is Uranerz Energy Corp. This company is a near-term uranium producer in Wyoming, and is particularly attractive due the fact that it is essentially derisked. Uranerz is exceptionally well managed and could be generating cash flow within a year. The company is fully permitted, has offtake agreements in place and should be receiving a $20M loan from the Wyoming Industrial Development Revenue Bond Program. The tolling agreement in place with Cameco Corp. is another positive attribute for Uranerz. Given that the Russians (JSC Atomredmetzoloto or ARMZ) have taken Uranium One Inc. private, Cameco may look to consolidate the Powder River Basin in Wyoming and integrate Uranerz into its operations there." More >

David Talbot, Dundee Capital Markets (6/7/13) "Shortly, Uranerz Energy Corp. will likely become the fourth uranium producer in Wyoming: Unlike some of its other peers, the company has a hub-and-spoke philosophy, advancing its abundance of uranium projects through the pipeline towards production. It has decreased operating and financing risk by taking the toll milling route through Cameco Corp.'s in-situ reserve operations. . .the company continues to trade at a premium to its developer peers of about 3x, and has outperformed both developer and explorer peers over the past year."

Colin Healey, Haywood Securities (6/7/13) "Uranerz Energy Corp. has closed a short-term secured note financing for a total of $6M, with proceeds being earmarked for the funding of ongoing construction at the Nichols Ranch ISR uranium project. . .a major critical path item of the construction and mine build at the Nichols ranch ISR uranium project is the drilling of two deep disposal wells required for production; the company did not want to commence drilling of the wells until cash was on hand to largely complete those wells. This note announced today provides the capital required to confidently commence drilling of those wells."

Jeb Handwerger, Gold Stock Trades (6/7/13) "Keep a close eye on Uranerz Energy Corp., which is currently in construction of the Nichols Ranch in-situ reserve uranium project in the Powder River Basin. Uranerz controls one of the best land positions in the Powder River Basin. . .the company already has a processing agreement with Cameco Corp. and long-term sales contracts with the largest U.S. utilities."

Investors Guru (5/22/13) "It appears that Uranerz Energy Corp.'s quiet period has ended as the company released four announcements recently: an expected amendment to its 2012 annual report, an update on its state loan application, a corporate update to shareholders and its Q1/13 financial results. Uranerz' stock price has responded positively and is now $1.35, around 35% higher."

Jeb Handwerger, Gold Stock Trades (5/17/13) "Uranerz Energy Corp. has made an explosive move upward since announcing that it was granted $20M from the state of Wyoming to fund completion of construction at Nichols Ranch. In today's market, this form of support through non-dilutive and low interest rate loans is truly remarkable. This is a testament to the quality of Uranerz' assets and the management team. . .the company controls a large land position with the potential to bring additional satellite projects into production. . .with the recent loan, Uranerz can move forward into becoming the next U.S. uranium producer."

Colin Healey, Haywood Securities (5/10/13) "We reiterate our Buy rating on Uranerz Energy Corp. . .the company will commence initial uranium production at the Nichols Ranch project in Q4/13, with first sales and commercial production expected in early CY/14 via in-situ recovery (ISR) mining in Wyoming. . .the management team has extensive experience with the successful permitting, development and operation of ISR facilities. . .Uranerz is well positioned to take full advantage of the uranium market for the long-term."

Jeb Handwerger, Gold Stock Trades (5/2/13) "Keep a close eye on Uranerz Energy Corp., which just announced that it has received the support from the Attorney General, State Treasurer and Governor of Wyoming for a $20M loan to fund the completion of construction at its Nichols Ranch project in the Powder River Basin. This non-dilutive loan has a low interest rate of 5.75% and could be repaid over seven years. . .the company controls one of the best land position in the Powder River Basin and surrounds both Cameco and Uranium One. . .Uranerz has one of the best management teams in the business with experience building and constructing new mines."

Colin Healey, Haywood Securities (5/2/13) "Uranerz Energy Corp. announced it has received the formal support of the attorney general, state treasurer and governor for its application to the Wyoming Business Council for a US$20M loan under the Wyoming Industrial Development Revenue Bond Program. . .approval of the state bond at all three levels implies that only administrative steps remain prior to funding, and the bond represents the major component of remaining financing. . .this is a positive development for the company, as it removes a layer of financing risk overhanging the stock and allows Uranerz to advance the Nichols Ranch project at a low cost of capital."

Colin Healey, Haywood Securities (4/8/13) "In 2013, Uranerz Energy Corp. will focus on completing construction of the Nichols Ranch in-situ recovery uranium project, as well as on submitting a mine application to the U.S. Nuclear Regulatory Commission and the Wyoming Department of Environmental Quality for the Jane Dough property. . .the company currently has an application under review for a $20M Wyoming Industrial Development Bond, which could potentially be a very cost-effective form of project financing."

Colin Healey, Haywood Securities (4/1/13) "Uranerz Energy Corp.'s operating cash flow for the year totaled US$13.7M or US$0.18/share after working capital changes. . .as of December 31, the company maintained a cash balance of US$7M. . .in 2012, Uranerz conducted an exploration program on the Powder River Basin properties consisting of 84 drill holes over 85,365 holes. . .2013 will focus on completing construction of the Nichols Ranch in-situ reserves uranium project as well as submitting a mine application with the U.S. Nuclear Regulatory Commission and the Wyoming Department of Environmental Quality for the company's Jane Dough property."

The Energy Report Interview with Jeb Handwerger (3/26/13) "Our favorite takeout target, though, is Uranerz Energy Corp., which is in construction at its Nichols Ranch project in the Powder River Basin. Nichols Ranch is surrounded by Cameco and Uranium One. The Powder River Basin has been producing uranium for decades. Uranerz already has a processing agreement signed with Cameco. We think that Uranerz should be top of the list for near-term U.S. producers." More >

The Energy Report Interview with Chris Berry (3/19/13) Chris Berry: A number of advanced-stage development companies could serve as interesting takeout targets for majors. One is Uranerz Energy Corp., which has a project in the Powder River basin in Wyoming called Nichols Ranch. Uranium One has a producing uranium mine not far from Uranerz's deposit and Cameco is active in the basin as well, so the region has clearly been derisked from a production standpoint. The company is fully permitted and should start producing uranium later this year. Of particular significance is a toll processing agreement the company has in place with Cameco. This is a signal that Cameco has vetted Uranerz's operation and Uranerz could very easily integrate into Cameco's supply chain. In my opinion, Uranerz is clearly a takeout target because of this agreement.

TER: Uranerz already has a sales contract with major nuclear utilities. Does this give it an advantage in the market?

CB: Yes, it derisks the project substantially. One of the keys to remember in the energy-metals business is that securing an offtake agreement is essential to getting into production. These markets are very different from precious metals, which do not have the same variety of industrial uses. These metals are mined to be used rather than stored. Uranerz does have a leg up on the competition because it actually has two sales contracts in place, one with Exelon Corp. and one with another U.S.-based operator. These are five-year deals with set pricing structures, so both the company and investors can forecast cash flow with a heightened degree of certainty. That is a huge derisking milestone for the company. More >

The Energy Report Interview with Malcolm Shaw (3/12/13) "I think Uranerz Energy Corp. is a really well run company with very nice assets. It's also in the in-situ business. It would probably make a decent combination with Powertech at some point but needs to get its project up and running first, at which point its cashflow could easily fund construction of a new project like Dewey Burdock. It doesn't require a lot of imagination to see that potential." More >

Chris Berry, Disruptive Discoveries Journal (3/7/13) "With supply constrained or shrinking and demand appearing to be healthy, we believe the uranium space is ripe with opportunity. One name to watch is Uranerz Energy Corp. . .it has ample cash, experienced management in the uranium exploration and development stages, and deposits that are in safe geopolitical jurisdictions. It is a company such as this that could be an attractive takeover target for majors looking to replace mined pounds of uranium."

The Energy Report interview with Colin Healey (2/14/13) "Uranerz Energy Corp. is developing an in-situ recovery (ISR) uranium operation in Wyoming. . .Uranerz has a toll milling agreement with Cameco Corp. for its resin. This means that there's lower risk to the production beyond the well field for Uranerz because it is not building a complete processing plant; it's relying on an existing operating processing plant. . .this company is looking at production by the end of 2013, which will hopefully coincide with a rising uranium price. [This is a] name that investors will turn to as soon as we start to see some support in the spot price and a few upticks in the long-term price." More >

The Energy Report Interview with Rob Chang (1/31/13) "Uranerz Energy Corp.'s Nichols Ranch project is under construction and scheduled for completion this year. . . We strongly believe that Uranerz Energy is a potential acquisition target for Cameco. Uranerz will start production in H1/13. We're forecasting around 400 thousand pounds to start, but within the next two years, it could go up past 1 Mlb/year. Currently, Uranerz is trading at about a ~$100 million (M) market cap. It's a very reasonable bite size for Cameco, which could just eat that up and add another 1 Mlb of production for little effort, given the synergies already in place between the two companies, as Uranerz plans to process its material at one of Cameco's facilities in the Powder River Basin. We would say that Denison and Uranerz would probably be the next two most likely candidates for acquisition. In my opinion, management matters, and Uranerz is operated by one of the best teams I've seen. Chief Executive Glen Catchpole is a very seasoned veteran, and he's put some of the world's largest in situ recovery mines into production. I certainly like Uranerz, and it seems like things are going well there." More >

The Energy Report Interview with Cecil Musgrave (1/22/13) "Uranerz Energy Corp. has a market-cap of ~$118M with projects focused in the Central Powder River Basin. Uranerz controls ~90k acres there, with its latest NI 43-101 resource report showing over 10 Mlb of uranium in the Measured and Indicated category and over 3 Mlb Inferred from seven projects explored so far. In June, Uranerz discovered a new uranium trend at its Monument project. Uranerz is near completion of its first ISR mine and processing plant. In October, Uranerz received its last permit needed, and is drilling two deep disposal wells this winter. Nichols Ranch will become the first new uranium mine built in Wyoming since 1996, and will serve to develop the company's satellite projects more quickly." More >

Chris Chang, Laurentian Bank Securities (1/14/13) "Ongoing consolidation in the uranium space should translate into a scarcity premium for remaining producers. . .we would highlight Uranerz Energy Corp. as an alternative investment option as the company is set to enter production in 2013, making it a cash-flow story by year-end. The company has meaningful production growth as the company is forecast to produce 250 Klb U308 in 2013 increasing to 583 Klb in 2014 and over 1.2 Mlb by 2017."

Rob Chang, Cantor Fitzgerald (1/3/13) "Uranerz Energy Corp.'s H1/13 production is on track—we continue to expect to see the commencement of uranium production at Nichols Ranch in the first half of 2013. We are maintaining our Buy recommendation."

Chris Berry, Disruptive Discoveries Journal (12/19/12) "In a recent presentation at the San Francisco Hard Assets Conference, I made the case for higher uranium prices in 2013 based on a looming supply-and-demand imbalance. . .the low-cost exploration and near-term production stories would appear best positioned to deliver above-average returns in the coming months. . .we view Uranerz Energy Corp. favorably. . .for its low-cost, near-term production profile in the Western United States. We think this could be the turning point in the sector many have been waiting for and reiterate our affinity for select uranium names in 2013."

The Critical Metals Report Interview with Rick Mills (12/4/12) "One that's going to make it into production next year is Uranerz Energy Corp. in Wyoming. It is fully permitted. It is building the pads for the first deep disposal well, which should take several months. Then it will need to build a second. The Nuclear Regulatory Commission has to do an inspection. . .it will probably take about a month to complete the inspection. I expect Uranerz, barring any inspection delays, to be in production by the end of July 2013. It has two offtake agreements already signed at a much higher price than spot. It has Cameco Corp. (CCO:TSX; CCJ:NYSE) doing its processing. It is going to be producing 600–800 Kt/year yellow cake. It's in-situ leaching and the company is the world's leading expert on it." More >

The Energy Report Interview with David Talbot (12/4/12) "An interesting company with significant catalysts coming up [is] Uranerz Energy Corp. . .big news out of Uranerz recently was the receipt of its deep disposal well permit, which essentially clears the way to production by mid-2013 via toll milling at Cameco's Smith Ranch-Highland in situ recovery plant. We believe the company can ramp up to between 300–700 Klb over the next two years. Upcoming catalysts include the installation of the first deep disposal well, expected to begin shortly, followed by a second disposal well and initial production thereafter." More >

Chris Chang, Laurentian Bank Securities (11/13/12) "We are initiating research coverage of Uranerz Energy Corp. with a Buy rating and a CA$2.20 target price, implying a total return of 56%. . .the company is fully permitted to commence production at its Nichols Ranch facility. Following the startup of Nichols Ranch in Q3/13, we anticipate production of 250 Klb U3O8 for the year."

Colin Healey, Haywood Securities (11/9/12) "Uranerz Energy Corp. continues to progress at Nichols Ranch, already working on the installation of the two deep disposal wells required at the initial production area, and appears to be on track for preproduction commissioning by Q2/13. . .the company is well positioned to take full advantage of the uranium market for the long-term due to its strategic land holding in the Powder River Basin combined with aggressive development and exploration programs. . .we believe the company provides an excellent opportunity for investors wanting exposure to a near-term, lower-cost uranium producer with exceptional management and board, a definitive resource and production growth potential."

David Talbot, Dundee Capital Markets (10/24/12) "We continue to recommend Uranerz Energy Corp. as a Buy. . .the company has announced a significant milestone; [it has cleared] the last of its permitting hurdles, paving the way for operations and production to begin at its flagship Nichols Ranch in-situ recovery project in Wyoming."

Jeb Handwerger, Gold Stock Trades (10/24/12) "Uranerz Energy Corp. received its deep disposal well permit. This was the last permit needed before producing uranium at Nichols Ranch and now will be the first new uranium mine built in Wyoming since 1996. . .we forecasted the permit will significantly derisk the Nichols Ranch asset and we may see a rerating occur for a fully permitted-for-production entity."

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