The planned ISR project has been analyzed combined with existing processing operations at the company’s Lost Creek mine in Sweetwater county.
The company has approached Western Water Consultants to manage the PEA.
Ur-Energy operations vice president Steve Hatten said: "Production from our latest project will not only enable Ur-Energy to produce from a second low cost resource base, but will allow us to fully utilize the Lost Creek processing facility at its designed capacity."
The company said that the Shirley Basin project has a source and byproduct material license from the US Nuclear Regulatory Commission and mining permit from the Wyoming Department of Environmental Quality – Land Quality Division.
The assessment has been completed based on assumption that construction will start in January 2017 with production to commence in October 2017.
The project is estimated to produce 6.3 million pounds of U3O8 and generate net cash flow of $215.9m over its life. Operating cost for the project is estimated to be $14.54 per pound of uranium produced.
