Ur‑Energy Inc. (NYSE: URG) completed a data‑acquisition transaction with Noble Plains Uranium Corp. (CSE: NOBL) that transfers a 1,211‑hole historical database from the Shirley Central Project in Wyoming. The database contains lithologic logs, geophysical results, and interpretations from multiple operators and would cost more than US$6 million to replicate today. In exchange, Ur‑Energy received US$125,000 in cash and 650,000 Canadian shares of Noble Plains, valued at C$0.1358 per share. The deal also gives Ur‑Energy a shareholder position in Noble Plains, positioning the two companies on the adjacent Shirley Central and Shirley Basin projects.
The transaction comes at a time when Ur‑Energy is working to bring its Shirley Basin project into production in Q1 2026. The company reported a Q3 2025 loss of US$27.5 million, or 7 cents per share, and revenue of US$6.3 million—both below analyst expectations. Ur‑Energy’s cash balance stood at US$52 million, providing a cushion for the $125,000 cash payment and the future contingent payments tied to resource reporting. Noble Plains, meanwhile, posted a Q3 2025 net loss of C$178.36 k, reflecting its early‑stage exploration focus.
Strategically, the deal allows Ur‑Energy to monetize a non‑core asset while gaining a foothold in a neighboring uranium project. By holding shares in Noble Plains, Ur‑Energy can benefit from any future resource definition at Shirley Central, potentially accelerating the development of a project that sits between its own Shirley Basin and Uranium Energy Corp.’s operations. The database’s value lies in its comprehensive historical data, which Noble Plains can use to refine its NI 43‑101 resource estimates and reduce exploration risk.
Analysts noted the transaction as a positive strategic move, citing the potential upside from shared geology and the opportunity for Ur‑Energy to participate in a project that could become a significant uranium source in the U.S. The deal aligns with the broader U.S. uranium renaissance, driven by renewed interest in nuclear power and the push for domestic production.
Management comments underscored the strategic fit. Drew Zimmerman, CEO of Noble Plains, said, “This data acquisition is exactly what our business model is built around, taking historically drilled uranium assets in great jurisdictions and accelerating them toward defined pounds in the ground.” John Cash, Chairman of Ur‑Energy, added, “We are pleased to support Noble Plains’ advancement of Shirley Central. The broader historical data helped define uranium resources already being advanced toward production at our Shirley Basin project.”
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