Interview with Matthew Gili, President of Ur-Energy Ltd

Our previous interview: https://www.cruxinvestor.com/posts/slow-supply-fast-demand-uraniums-new-investment-reality-7136

Recording date: 5th September 2025

Ur-Energy has emerged as a standout performer in the uranium sector under new leadership, positioning itself as one of the few active US producers during a critical market recovery period. The company recently appointed Matthew Gili as president, bringing over three decades of large-scale mining operations experience from industry leaders including Rio Tinto and Barrick Gold.

Gili's appointment represents a strategic inflection point for the Wyoming-based producer. Despite lacking uranium-specific experience, his proven track record in operational turnarounds across silver, gold, and copper operations provides exactly what Ur Energy needs. "I don't come from the uranium background. I come from the gold and copper background primarily," Gili explained, emphasizing his focus on "business improvement cycles regarding project management cycles regarding just good old management operating systems."

The company's Lost Creek facility currently produces over 110,000 pounds of uranium quarterly, with management targeting 800,000 to 1.2 million pounds annually. Demonstrating cost competitiveness, Ur-Energy achieved $42 cash costs per pound in Q2, providing healthy margins at current uranium prices while targeting further reductions through operational optimization.

Near-term growth prospects center on Shirley Basin, scheduled for commissioning in Q1 2026. The project's strategic design maximizes existing infrastructure utilization, with resin capture processing at Shirley Basin and loaded resin trucked to Lost Creek for precipitation processing.

Ur-Energy's three-property portfolio operates within a 10-mile radius of Casper, Wyoming, creating significant operational synergies. "We can share people. We can share warehouses and we can truck material from one site to the other," Gili noted, highlighting cost advantages over multi-jurisdictional competitors.

The company's strategic positioning as an active producer during uranium supply shortages provides immediate price leverage advantages. As Gili emphasized, "The entities that make the real money are the entities that are operating when the price goes up," distinguishing Ur-Energy from development-stage competitors facing construction risk and capital requirements.

Learn more: https://www.cruxinvestor.com/companies/ur-energy-inc

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