Ur-Energy Inc (URG) saw its loss widen to $3.01 million, or $0.02 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $0.80 million, or $0.01 a share. Revenue during the year plunged 34.80 percent to $27.30 million from $41.88 million in the previous year. Gross margin for the year expanded 1191 basis points over the previous year to 41.96 percent. Operating margin for the year period stood at positive 0.99 percent as compared to a negative 4.43 percent for the previous year.
Operating income for the year was $0.27 million, compared with an operating loss of $1.86 million in the previous year.
Ur-Energy Chief executive officer, Jeff Klenda provided the following on the Company’s 2016 performance: “In a year which ended with difficult market conditions, our company distinguished itself by routinely meeting production expectations and providing consistent cash flow from operations. Our first mine unit at Lost Creek continues to outperform original expectations delivering its two millionth drummed pound to the convertor allowing us to continue filling our long term sales commitments.”
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