Lost Creek Feasibility Study: $244M NPV, 65.7% IRR
Ur-Energy Inc.'s Lost Creek in Wyoming, USA has a Feasibility Study outlining an after-tax NPV of $244M and an after-tax IRR of 65.7%. The mine plan runs 13 years at about 1.2 Mlbs U3O8 per year.
Ur-Energy Inc.'s Lost Creek has reported Feasibility Study results for the uranium (u3o8) project in Wyoming, USA. The study headlines an after-tax net present value of $244M at a 8% discount rate. It reflects Ur-Energy Inc.'s (URE.TO) latest disclosed economics for the asset.
Economics. The after-tax NPV is $244M using a 8% discount rate. After-tax IRR is 65.7%. All-in sustaining costs are pegged at 55 USD/lb.
Production and mine plan. The project envisions an isr (in-situ recovery) operation. Life of mine is 13 years. Average annual production is approximately 1.2 Mlbs U3O8.
Resources and ownership. The company holds a 100% interest in the project.
These figures are extracted from Ur-Energy Inc.'s technical disclosures and reflect the most recent Feasibility Study on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.
Reserves & Resources
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Measured & Indicated | — | 0.048% | 11.9M lbs U3O8 |
| Inferred | — | 0.047% | 10.4M lbs U3O8 |
Our Analysis
- IRR after-tax
- 65.7%
higher than 75% of 8 projects we track
- NPV after-tax
- $244M
- Mine life
- 13yrs
- Discount rate
- 8%
The 65.7% after-tax IRR places this project in the top quartile of the uranium peers we track and well above the 15-20% threshold that typically clears financing for single-asset developers. That is the headline. The 8% discount rate used to calculate the $244M NPV is within standard reporting convention but on the low side, which flatters the NPV figure; a higher rate would compress it meaningfully. The NPV sits at roughly half the company's market cap, which can be read two ways: either the market has not yet priced in the project's full value, or it is discounting significant execution, permitting, or dilution risk.
Capital intensity is manageable relative to NPV, but the absolute capex still represents a material funding requirement for a junior developer, making equity dilution a real risk. Wyoming is a stable, mining-friendly jurisdiction, which lowers political risk but does not eliminate permitting timelines or community engagement challenges. The single most important watch-item is securing project financing without excessive dilution, given the gap between NPV and market cap and the concentrated, single-asset risk profile.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.