Ur-Energy Inc., a leading mining company specializing in gold and silver ores, has announced a significant change in its independent registered public accounting firm. The Audit Committee of the company's Board of Directors has appointed BDO USA, P.C. (BDO) as its new auditor, replacing PricewaterhouseCoopers LLP (PwC).
The transition follows the successful audit of the company's financial statements for the fiscal years ended December 31, 2022, and 2023, by PwC. There were no issues or disagreements between Ur-Energy and PwC during this period. In compliance with regulatory requirements, the company has provided necessary disclosures and received confirmation from PwC.
Additionally, Ur-Energy recently reported positive outlook in the uranium market, with increased production and inventory levels. The company aims to deliver 570,000 pounds in sales in 2024, with projected revenues of $33.1 million. Construction at the Shirley Basin satellite plant is set to begin in spring 2025.
InvestingPro Insights
Despite strong revenue growth, Ur-Energy faces profitability challenges. However, holding more cash than debt and anticipating sales growth in the current year indicate a promising financial future. Investors can gain further insights from InvestingPro's comprehensive analysis of Ur-Energy.
Overall, the change in auditors and positive market outlook suggest potential opportunities for investors in Ur-Energy. Understanding the financial health and market position of the company is crucial for making informed investment decisions.