<SEC-DOCUMENT>0001104659-20-027783.txt : 20200302
<SEC-HEADER>0001104659-20-027783.hdr.sgml : 20200302
<ACCEPTANCE-DATETIME>20200302150321
ACCESSION NUMBER:		0001104659-20-027783
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200228
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200302
DATE AS OF CHANGE:		20200302

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UR-ENERGY INC
		CENTRAL INDEX KEY:			0001375205
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Z4
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33905
		FILM NUMBER:		20676300

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 200
		STREET 2:		10758 W. CENTENNIAL ROAD
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127
		BUSINESS PHONE:		720-981-4588

	MAIL ADDRESS:	
		STREET 1:		SUITE 200
		STREET 2:		10758 W. CENTENNIAL ROAD
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80127
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2011442d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</B><BR>
<BR>
</FONT><B>FORM 8-K</B><FONT STYLE="font-size: 10pt"><BR>
<BR>
Current Report<BR>
<BR>
Pursuant to Section 13 or 15(d) of<BR>
the Securities Exchange Act of 1934</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (Date of
earliest event reported): <B>February 28, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UR-ENERGY INC.</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant
as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

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        <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Canada</B></P></TD>
    <TD STYLE="text-align: center; padding: 0; width: 34%">
        <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>001- 33905</B></P></TD>
    <TD STYLE="text-align: center; padding: 0; width: 33%">
        <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Not applicable</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0">
        <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(State or other
jurisdiction of <BR>
incorporation or organization)</P></TD>
    <TD STYLE="text-align: center; padding: 0">
        <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Commission&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">File Number)</P></TD>
    <TD STYLE="text-align: center; padding: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(I.R.S. Employer
<BR>
Identification Number)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10758 W Centennial Road, Suite 200</B></FONT></TD>
    <TD STYLE="text-align: center; padding: 0; width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Littleton, Colorado</B></FONT></TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;80127</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address of principal executive offices) </FONT></TD>
    <TD STYLE="text-align: center; padding: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(Zip code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Registrant&rsquo;s telephone
number, including area code: <B>(720) 981-4588</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Securities registered pursuant to Section
12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Title&nbsp;of&nbsp;each&nbsp;class:</B></FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Trading Symbol</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Name&nbsp;of&nbsp;each&nbsp;exchange&nbsp;on&nbsp;which&nbsp;registered:</B></FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">Common stock</FONT></TD>
    <TD STYLE="text-align: center; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">URG (NYSE American): URE (TSX)</FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">NYSE American; TSX</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Check the appropriate box below if the Form&nbsp;8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see
General Instruction&nbsp;A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule&nbsp;425 under
the Securities Act (17&nbsp;CFR&nbsp;230.425)</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule&nbsp;14a-12 under
the Exchange Act (17&nbsp;CFR&nbsp;240.14a-12)</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)
under the Exchange Act (17&nbsp;CFR&nbsp;240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)
under the Exchange Act (17&nbsp;CFR&nbsp;240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Indicate by check mark
whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &sect;240.12b-2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Emerging growth company&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Item 2.02 Results of Operations and Financial
Condition.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">On February 28, 2020,
Ur-Energy Inc. issued a press release providing earnings results and an operational update for the quarter and year ended December
31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">A copy of the press release
is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The information in this
Item 2.02 of this Current Report on Form 8-K, including the information set forth in Exhibit 99.1, is being furnished and shall
not be deemed &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934 (the &ldquo;Exchange Act&rdquo;),
or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing by the
company under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such
filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>Item 9.01</B> <B>Financial Statements and Exhibits.</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.75in; border-bottom: black 1pt solid; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Exhibit <BR>
No.</B></FONT></TD>
    <TD STYLE="width: 0.1in; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Description</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-size: 10pt"><A HREF="tm2011442d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-size: 10pt"><A HREF="tm2011442d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press release of Ur-Energy Inc., dated February 28, 2020 providing earnings results and an operational update for the quarter and year ended December 31, 2019.*</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt; text-indent: 0pt">*This Exhibit is intended to be
furnished to, not filed with, the SEC pursuant to General Instruction B.2 of Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt; text-indent: 0pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Date: March 2, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Ur-Energy Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0; width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><I>/s/ Penne A. Goplerud</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Name: Penne A. Goplerud</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Title: Corporate Secretary and General Counsel</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Exhibit <BR>
No.</B></FONT></TD>
    <TD STYLE="width: 2%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Description</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in"><A HREF="tm2011442d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><A HREF="tm2011442d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press release of Ur-Energy Inc., dated February 28, 2020, providing earnings results and an operational update for the quarter and year ended December 31, 2019.*</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">*This Exhibit is intended to be
furnished to, not filed with, the SEC pursuant to General Instruction B.2 of Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt; text-indent: -31.5pt">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2011442d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B><I>Exhibit
99.1</I></B></FONT></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Ur-Energy
Releases 2019 Year End Results</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Littleton,
Colorado</B> (PR Newswire &ndash; February 28, 2020) <B>Ur-Energy Inc. </B>(NYSE American:URG)(TSX:URE) (&ldquo;Ur-Energy&rdquo;
or the &ldquo;Company&rdquo;) has filed the Company&rsquo;s Annual Report on Form 10-K, Consolidated Financial Statements, and
Management&rsquo;s Discussion &amp; Analysis, all for the year ended December 31, 2019, with the U.S. Securities and Exchange
Commission on EDGAR at <U>www.sec.gov/edgar.shtml</U> and with Canadian securities authorities on SEDAR at <U>www.sedar.com</U>.
These filings also may be accessed on the Company&rsquo;s website at <U>www.ur-energy.com</U>. Shareholders of the Company may
receive a hard copy of the consolidated financial statements, free of charge, upon request to the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Ur-Energy CEO, Jeff Klenda
said: &ldquo;At February 26, we had $6.4 million in cash, and nearly 270,000 pounds of finished, ready-to-sell U<SUB>3</SUB>O<SUB>8</SUB>
inventory at the conversion facility. This provides a solid foundation for us to begin 2020, and complements our distinct advantage
over our peers in being able to ramp up our operating low-cost Lost Creek facility quickly and cost-effectively when warranted.
In the period of uncertainty following the President&rsquo;s decision not to take immediate action with regard to the Section 232
Trade Action, we took aggressive, but positive, measures, to sustain operations and maximize our runway. With the cooperation and
support of the State of Wyoming and Sweetwater County, we deferred six quarterly principal payments, totaling $7.8 million, and
implemented many other cost-saving measures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&ldquo;Beyond extending
our runway, these actions enabled us to avoid any further dilution to our shareholders while we await the recommendations of the
U.S. Nuclear Fuel Working Group formed by the President in response to our trade action. The recently announced ten-year, $150
million annual budget item for the creation of a national uranium reserve is a solid signal of support from the Administration
and appears to be part of the recommendations of the Working Group. Secretary of Energy Brouillette has commented publicly he anticipates
the Working Group report being published at any time. We await the release of the recommendations and hope to be able to ramp-up
production at Lost Creek soon.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Financial Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The Company ended the
year with a cash and cash equivalents balance of $7.8 million. Excluding NRV adjustments, we recognized a gross profit of $12.2
million on sales of $32.3 million during 2019, which represents a gross profit margin of approximately 38%. The Company realized
an average price per pound sold of $48.50, as compared to $48.86 in 2018. As at February 26, 2020, our unrestricted cash position
was $6.4 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Lost Creek Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">During 2019, 47,957 pounds
of U<SUB>3</SUB>O<SUB>8</SUB> were captured within the Lost Creek plant. A total of 50,794 pounds were packaged in drums and 58,353
pounds of the drummed inventory were shipped to the conversion facility where our year-end inventory was approximately 268,803
pounds U<SUB>3</SUB>O<SUB>8</SUB>. The cash cost per pound and non-cash cost per pound for produced uranium presented in the following
Production and Production Costs, and Sales and Cost of Sales tables are non-US GAAP measures. These measures do not have a standardized
meaning within US GAAP or a defined basis of calculation. These measures are used by management to assess business performance
and determine production and pricing strategies. They may also be used by certain investors to evaluate performance. Please see
the tables below for reconciliations of these measures to the US GAAP compliant financial measures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Production and sales
figures for the Lost Creek Project are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>Production and Production Costs</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>Unit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q4</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q2</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-indent: 0in; width: 43%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 5%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; width: 8%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: right; width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Pounds captured</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5,004</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;7,256</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;13,146</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;22,551</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;47,957</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-left: 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Ad valorem and severance tax</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;22</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(14)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;17</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;57</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;82</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-left: 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Wellfield cash cost <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;158</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;210</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;264</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;250</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;882</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-left: 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Wellfield non-cash cost <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;611</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;611</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;612</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;612</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,446</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 24pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Ad valorem and severance tax per pound captured</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4.40</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1.93)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1.29</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2.53</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1.71</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-left: 24pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Cash cost per pound captured</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;31.57</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;28.94</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;20.08</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;11.09</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;18.39</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-left: 24pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Non-cash cost per pound captured</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;122.10</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;84.21</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;46.55</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.14</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;51.00</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Pounds drummed</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;7,116</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;9,367</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;13,296</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;21,015</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;50,794</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-left: 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Plant cash cost <SUP>(3)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;898</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,045</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,134</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,318</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,395</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-left: 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Plant non-cash cost <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;494</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;490</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;490</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;480</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,954</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-left: 24pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Cash cost per pound drummed</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;126.19</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;111.56</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;85.29</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;62.72</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;86.53</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-left: 24pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Non-cash cost per pound drummed</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;69.42</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;52.31</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;36.85</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;22.84</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;38.47</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Pounds shipped to conversion facility</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;20,643</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37,710</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;58,353</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-left: 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Distribution cash cost <SUP>(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;26</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;12</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;6</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;71</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-left: 24pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Cash cost per pound shipped</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1.26</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;0.32</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1.22</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Pounds purchased</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;180,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;122,500</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;100,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;97,500</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;500,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-left: 12pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Purchase costs</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,311</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,391</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,795</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,681</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;13,178</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-left: 24pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Cash cost per pound purchased</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;23.95</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.68</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.95</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.50</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;26.36</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>1</SUP></TD><TD STYLE="text-align: justify">Wellfield cash costs include all wellfield operating costs. Wellfield construction and development
costs, which include wellfield drilling, header houses, pipelines, power lines, roads, fences and disposal wells, are treated as
development expense and are not included in wellfield operating costs.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>2</SUP></TD><TD STYLE="text-align: justify">Non-cash costs include the amortization of the investment in the mineral property acquisition costs
and the depreciation of plant equipment, and the depreciation of their related asset retirement obligation costs. The expenses
are calculated on a straight-line basis, so the expenses are typically constant for each quarter. The cost per pound from these
costs will therefore typically vary based on production levels only.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>3</SUP></TD><TD STYLE="text-align: justify">Plant cash costs include all plant operating costs and site overhead costs.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>4</SUP></TD><TD STYLE="text-align: justify">Distribution cash costs include all shipping costs and costs charged by the conversion facility
for weighing, sampling, assaying and storing the pounds prior to sale.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In total, wellfield,
plant and distribution cash costs were very consistent quarter on quarter during 2019. The respective costs per pound increased
overall during the year primarily driven by decreasing levels of production, which is a typical result as a mine and its wellfields
mature and older operating patterns remain in the flow regime.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>U<SUB>3</SUB>O<SUB>8</SUB>
Sales and Cost of Sales</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-bottom: black 1pt solid; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>Sales and cost of sales</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>Unit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q4</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q2</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; width: 43%"><FONT STYLE="font-size: 10pt">Pounds sold</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 5%"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;180,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;122,500</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;265,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;97,500</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;665,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">U3O8 sales</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;10,848</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5,115</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;11,477</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,812</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;32,252</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Average contract price</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;60.26</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;41.76</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;43.31</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;49.35</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48.50</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Average spot price</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Average price per pound sold</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;60.26</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;41.76</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;43.31</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;49.35</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48.50</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">U3O8 cost of sales<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,377</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,428</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;9,026</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,181</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;20,012</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Ad valorem and severance tax cost per pound sold</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1.52</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1.52</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1.52</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Cash cost per pound sold</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;23.95</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;23.86</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;23.93</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Non-cash cost per pound sold</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;12.38</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;12.36</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;12.38</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Cost per pound sold - produced</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37.85</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37.74</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37.83</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Cost per pound sold - purchased</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;24.31</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.98</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.80</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.50</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;26.43</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Total average cost per pound sold</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;24.31</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.98</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;34.06</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;32.63</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;30.09</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">U3O8 gross profit</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;6,471</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,687</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,451</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,631</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;12,240</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Gross profit per pound sold</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;35.95</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;13.78</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;9.25</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;16.72</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;18.41</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Gross profit margin</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">59.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">33.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">21.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">33.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">38.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-indent: 0in"><FONT STYLE="font-size: 10pt">Ending Inventory Balances</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B><I>Pounds</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">In-process inventory</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5,396</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;8,074</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;10,221</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;10,595</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Plant inventory</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;13,526</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;41,871</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;28,574</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Conversion facility inventory produced</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;220,053</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;199,411</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;161,700</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;327,053</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Conversion facility inventory purchased</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48,750</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48,750</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48,750</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48,750</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Total inventory</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;274,199</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;269,761</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;262,542</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;414,972</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B><I>Total cost</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">In-process inventory</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Plant inventory</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;384</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,638</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,259</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Conversion facility inventory produced</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;6,250</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5,721</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;6,134</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;12,352</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Conversion facility inventory purchased</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,176</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,252</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,355</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,341</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Total inventory</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;7,426</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;7,357</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;9,127</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;14,952</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B><I>Cost per pound</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">In-process inventory</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Plant inventory</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;28.39</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;39.12</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;44.06</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Conversion facility inventory produced</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;28.40</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;28.69</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37.93</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37.77</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Conversion facility inventory purchased</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;24.12</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;25.68</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.80</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.50</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Note:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">U<SUB>3</SUB>O<SUB>8</SUB> costs of sales include all production costs (notes 1, 2, 3 and 4 in
the previous Production and Production Costs table) adjusted for changes in inventory values but excludes the lower of cost or
NRV adjustments as the adjustments do not correspond with the timing of the sales of produced inventory.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">We sold 180,000 pounds
under contract in Q4 2019 at an average price of $60.26. For the year, we sold 665,000 pounds which were all sold under term contracts
at an average price per pound of $48.50. Total uranium sales were $32.3 million. Of the 665,000 pounds, 213,750 pounds were sold
from produced inventory at an average price of $46.26 per pound while 451,250 were sold from purchased inventory at an average
price of $49.56 per pound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">For the year, our uranium
cost of sales totaled $20.0 million excluding $10.3 million net realizable value (NRV) adjustments and was comprised of $11.9 million
of purchase costs and $8.1 million of production costs. In 2019, we purchased 500,000 pounds at an average price of $26.36 per
pound. In 2019, the average cost per pound sold from production was $37.83, as compared to $40.80 in 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The gross profit from
uranium sales for 2019 was $12.2 million, which represents a gross profit margin of approximately 38%. This compares to a gross
profit margin of $11.6 million or 49% in 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">At the end of the year,
we had approximately 268,803 pounds of U<SUB>3</SUB>O<SUB>8</SUB> at the conversion facility, which was comprised of 220,053 produced
and 48,750 purchased pounds, at an average cost per pound of $28.40 for the produced inventory and $24.12 for the purchased inventory.
The following table shows the average cost per pound of the conversion facility inventory. The costs per pound for uranium inventory
presented in the following inventory table are non-US GAAP measures. These measures do not have a standardized meaning within US
GAAP or a defined basis of calculation. These measures are used by management to assess business performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 0"><FONT STYLE="font-size: 10pt"><B>Ending Conversion Facility Inventory</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt"><B>Unit</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>31-Dec-19</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>30-Sep-19</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>30-Jun-19</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>31-Mar-19</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 0">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-left: 0; width: 40%"><FONT STYLE="font-size: 10pt"><B>Cost Per Pound Summary (Produced)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 12%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 12%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 12%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; white-space: nowrap; vertical-align: bottom; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Ad valorem and severance tax cost per pound</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;0.77</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;0.91</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1.52</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1.52</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="text-align: left; white-space: nowrap; vertical-align: bottom; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Cash cost per pound</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;17.95</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;18.28</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;24.00</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;23.87</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: left; white-space: nowrap; vertical-align: bottom; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Non-cash cost per pound</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;9.68</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;9.50</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;12.41</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;12.38</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="text-align: left; white-space: nowrap; vertical-align: bottom; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Total cost per pound</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;28.40</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;28.69</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37.77</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37.75</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: left; white-space: nowrap; vertical-align: bottom; padding-left: 0">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-left: 0"><FONT STYLE="font-size: 10pt"><B>Cost Per Pound Summary (Purchased)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; white-space: nowrap; vertical-align: bottom; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Total cost per pound</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;24.12</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;25.68</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.80</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.50</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Generally, the cost per
produced pound in ending inventory at the conversion facility decreased during the year as compared to the ending cost per pound
in 2018. The decrease was directly related to the use of lower projected sales prices in the NRV computations which reduces the
realizable value of the inventory and the carrying cost per pound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>Reconciliation of
Non-GAAP sales and inventory presentation with US GAAP statement presentation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">As discussed above, the
cash costs, non-cash costs and per pound calculations are non-US GAAP measures we use to assess business performance. To facilitate
a better understanding of these measures, the tables below present a reconciliation of these measures to the financial results
as presented in our financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-left: 0; vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt"><B>Average Price Per Pound Sold Reconciliation</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>Unit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q4</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q2</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 </B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 0; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; white-space: nowrap; padding-left: 0; width: 41%"><FONT STYLE="font-size: 10pt">Sales per financial statements</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 4%"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;10,849</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;5,115</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;11,479</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 3%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;4,812</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;32,255</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; white-space: nowrap; padding-left: 0"><FONT STYLE="font-size: 10pt">Less disposal fees</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; white-space: nowrap; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">U<SUB>3</SUB>O<SUB>8</SUB> sales</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;10,848</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5,115</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;11,477</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,812</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;32,252</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; white-space: nowrap; padding-left: 0">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; white-space: nowrap; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Pounds sold - produced</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;165,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48,750</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;213,750</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; white-space: nowrap; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Pounds sold - purchased</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;180,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;122,500</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;100,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48,750</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;451,250</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; white-space: nowrap; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Total pounds sold</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;180,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;122,500</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;265,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;97,500</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;665,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 0; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; white-space: nowrap; padding-left: 0"><FONT STYLE="font-size: 10pt">Average price per pound sold</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;60.26</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;41.76</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;43.31</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;49.35</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48.50</FONT></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt"><B>Total Cost&nbsp;Per&nbsp;Pound&nbsp;Sold<BR>
 &nbsp;Reconciliation <SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt"><B>Unit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q4</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q2</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019 Q1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>2019</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 38%"><FONT STYLE="font-size: 10pt">Cost of sales per financial statements</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; width: 5%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;6,451</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right; width: 10%"><FONT STYLE="font-size: 10pt">&nbsp;7,515</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;11,163</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right; width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;5,146</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;30,275</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Less adjustments reflecting the lower of cost or NRV</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(2,074)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(4,087)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(2,137)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,965)</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(10,263)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; padding-left: 12pt"><FONT STYLE="font-size: 10pt">U<SUB>3</SUB>O<SUB>8</SUB> cost of sales </FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,377</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,428</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;9,026</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,181</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;20,012</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">Ad valorem &amp; severance taxes</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;22</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(14)</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;17</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;57</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;82</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Wellfield costs</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;769</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;821</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;876</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;862</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,328</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">Plant and site costs</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,393</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,535</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,624</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,798</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;6,350</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Distribution costs</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;26</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;12</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;6</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;71</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">Inventory change</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(2,209)</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(2,354)</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,702</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(883)</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,744)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 12pt"><FONT STYLE="font-size: 10pt">Cost of sales - produced</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;6,246</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,841</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;8,087</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 12pt"><FONT STYLE="font-size: 10pt">Cost of sales - purchased</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,377</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,428</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,780</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,340</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;11,925</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Total cost of sales</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,377</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,428</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;9,026</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,181</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;20,012</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 12pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 6pt"><FONT STYLE="font-size: 10pt">Pounds sold produced</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;165,000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48,750</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;213,750</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 6pt"><FONT STYLE="font-size: 10pt">Pounds sold purchased</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;180,000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;122,500</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;100,000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48,750</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;451,250</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 12pt"><FONT STYLE="font-size: 10pt">Total pounds sold</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">lb</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;180,000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;122,500</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;265,000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;97,500</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;665,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 6pt"><FONT STYLE="font-size: 10pt">Average cost per pound sold - produced</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37.85</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37.74</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37.83</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 6pt"><FONT STYLE="font-size: 10pt">Average cost per pound sold - purchased</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;24.31</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.98</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.80</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.50</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;26.43</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Total average cost per pound sold</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font-size: 10pt">$/lb</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;24.31</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27.98</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;34.06</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;32.63</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1.5pt solid; padding-right: 0.05in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;30.09</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Note:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The cost per pound sold reflects both cash and non-cash costs, which are combined as cost of sales
in the statement of operations included in this filing. The cash and non-cash cost components are identified in the above production
cost table. It excludes the lower of cost or NRV adjustments as the adjustments do not correspond with the timing of the sales
of produced inventory.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The cost of sales includes
ad valorem and severance taxes related to the extraction of uranium, all costs of wellfield, plant and site operations including
the related depreciation and amortization of capitalized assets, reclamation and mineral property costs, plus product distribution
costs. These costs are also used to value inventory and the resulting inventoried cost per pound is compared to the estimated sales
prices based on the contracts or spot sales anticipated for the distribution of the product. Any costs in excess of the calculated
market value are charged to cost of sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Year Ended December 31, 2019 Compared to
Year Ended December 31, 2018</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">The following table summarizes the results
of operations for the years ended December 31, 2019 and 2018 (in thousands of U.S. dollars):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; vertical-align: top; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>Year ended December&nbsp;31,</B></FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in; width: 55%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; vertical-align: top; text-indent: 0in; text-align: center; width: 21%"><FONT STYLE="font-size: 10pt"><B>2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-indent: 0in; text-align: center; width: 4%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; vertical-align: top; text-indent: 0in; text-align: center; width: 20%"><FONT STYLE="font-size: 10pt"><B>2018</B></FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-indent: 0in; text-align: center"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-indent: 0in; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-indent: 0in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Sales</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;32,255</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;23,496</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Cost of sales</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(30,275)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(12,203)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Gross profit (loss)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,980</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;11,293</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Exploration and evaluation expense</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(2,476)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(2,431)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Development expense</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,404)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,654)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">General and administrative expense</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(5,801)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(5,393)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Accretion expense</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(577)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(508)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Write-off of mineral properties</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(11)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; padding-left: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Net profit from operations</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(8,289)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,307</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Net interest expense</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(668)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,002)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Warrant mark to market gain</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;524</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;581</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Loss from equity investment</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(5)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Foreign exchange gain (loss)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(28)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;43</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Other income</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;43</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,610</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; padding-left: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">Net income</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(8,418)</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,534</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Income per share &ndash; basic</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">(0.05)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;0.03</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Income per share &ndash;&nbsp;&nbsp;diluted</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">(0.05)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;0.03</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Revenue per pound sold</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48.50</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;48.86</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Total cost per pound sold</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;30.09</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;24.76</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="white-space: nowrap; text-indent: 0in"><FONT STYLE="font-size: 10pt">Gross profit per pound sold</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;18.41</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding-right: 0.05in; text-indent: 0in; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;24.10</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Outlook for 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In 2019, we delivered
665,000 pounds into term contracts at an average price of $49 per pound. During the year, we purchased 500,000 pounds at an average
cost of $26 per pound and delivered 451,250 purchased pounds into the term contracts. The remaining 213,750 pounds were delivered
from our produced inventory at an average total cost of $38 per pound, which included cash costs of $24 per pound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In 2020, we expect to
deliver 200,000 pounds into term contracts at an average price of $42 per pound. We have contracts in place to purchase 200,000
pounds at an average cost of $26 per pound, which we intend to deliver into the term contracts. Given what will be very limited
production in 2020 (not expected to exceed 5,000 pounds U<SUB>3</SUB>O<SUB>8</SUB>), we are not planning to sell any pounds from
this year&rsquo;s production or existing inventories at current spot prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The ending spot price
decreased from $28 per pound in 2018 to $25 per pound in 2019 and has continued to trade at or below $25 per pound thus far in
2020. As a reminder, the ending spot price has been below $25 per pound three of the last four years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In response to the persistently
weak uranium market, we have taken multiple, aggressive measures over the years to control costs, including reductions in force
in each of the last four years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In 2016, we deliberately
slowed development activities at MU2, reduced costs, and focused on enhancing production efficiencies from our operating MU1 header
houses</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In 2017, we continued
to employ this limited-development strategy, implemented further cost reductions, and supplemented existing mine production with
cost-effective priced uranium purchases to meet our contractual sales commitments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In 2018, we implemented
further cost reductions, suspended all MU2 development activities, purchased 100% of the uranium necessary to meet our 2018 contractual
commitments, and increased our ending inventory position from 130,000 pounds to 392,000 pounds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In 2019, we again chose
to conduct no further MU2 development activities, secured purchase contracts for 500,000 pounds of uranium at cost-effective prices,
and sold 165,000 pounds related to 2020 obligations under existing term agreements. We again took aggressive cost cutting measures,
including additional staffing cuts, and renegotiated the Wyoming State Bond Loan deferring six quarterly principal payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">As at February 26, 2020,
our unrestricted cash position was $6.4 million, and we had nearly 270,000 pounds of finished inventory readily available for sale
at our discretion. Given our current cash and inventory position, and our remaining sales and purchase contracts, we do not anticipate
the need for additional funding for current operations in the near term unless it is advantageous to do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The actions we have taken,
together with our current cash, inventory, and contract positions, give the Company the flexibility it needs to react to changing
market conditions and quickly re-start development activities in MU2 when warranted. With future development and construction in
mind, the staff who were retained had the greatest level of experience and adaptability allowing for an easier transition back
to full operations. Lost Creek operations could increase production rates in as little as six months following a go decision simply
by developing additional header houses within the fully permitted MU2. Development expenses during this time are estimated to be
approximately $14 million and are almost entirely related to MU2 drilling and header house construction costs. Lost Creek does
not require any significant capital expenditures in order to increase production. The Lost Creek plant has been routinely maintained
to be fully ready to receive additional flows for increased production when warranted. This operating strategy will allow us to
control production costs, minimize development expenditures, maximize cash flows and maintain the operational flexibility to respond
to market conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">We have consistently
focused on innovative approaches to enhance production, control costs, and exercise financial restraint in what has become a moribund
domestic uranium market. To that end, we initiated in 2018, and subsequently awaited the outcome of, the Section 232 Trade Action.
To our great disappointment, however, the President chose to take no direct action regarding the Section 232 Trade Action. Instead,
the President did establish a Working Group to develop recommendations for reviving and expanding domestic uranium production,
which was slated to report back to the White House in early Q4 2019. At this time, the report has not been made public.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">More recently, the President&rsquo;s
proposed FY2021 budget included a line item of $150 million per year from 2021 to 2030 to support the creation and fulfillment
of a new national uranium reserve to be supplied by domestically mined uranium. While this news is encouraging, there can be no
certainty of the approval and implementation of the President&rsquo;s proposed budget, nor of the outcome of the Working Group&rsquo;s
long overdue findings and recommendations, and therefore, the outcome of this continuing process and its effects on the U.S. uranium
market is uncertain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The domestic uranium
market has been and remains in poor condition. U.S. uranium production in 2020 will be substantially less than 2019 production,
which was dismal &ndash; 90% less than the record-setting low production of 2018. Imports continue to besiege the domestic uranium
fuel cycle and have &ldquo;undermined U.S. energy security and impacted U.S. fuel supply capabilities.&rdquo; We implore the President,
the Working Group, and Congress, to take innovative approaches to &ldquo;secure energy independence&rdquo; and &ldquo;address challenges
to the production of domestic uranium.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><U>About Ur-Energy</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Ur-Energy is a uranium
mining company operating the Lost Creek <I>in-situ </I>recovery uranium facility in south-central Wyoming. We have produced, packaged
and shipped more than 2.6 million pounds from Lost Creek since the commencement of operations. Applications are under review by
various agencies to incorporate our LC East project area into the Lost Creek permits and to operate at our Shirley Basin Project.
Ur-Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development
and operation of uranium mineral properties in the United States. Shares of Ur-Energy trade on the NYSE American under the symbol
 &ldquo;URG&rdquo; and on the Toronto Stock Exchange under the symbol &ldquo;URE.&rdquo; Ur-Energy&rsquo;s corporate office is
in Littleton, Colorado; its registered office is in Ottawa, Ontario. Ur-Energy&rsquo;s website is <U>www.ur-energy.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>FOR FURTHER INFORMATION,
PLEASE CONTACT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Jeffrey Klenda, Chair &amp; CEO</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">866-981-4588&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><U>Jeff.Klenda@Ur-Energy.com</U></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Cautionary Note Regarding
Forward-Looking Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">This release may contain
 &ldquo;forward-looking statements&rdquo; within the meaning of applicable securities laws regarding events or conditions that
may occur in the future (<I>e.g., </I>controlling production operations at lower levels at Lost Creek; the timing to determine
future development and construction priorities, and the ability to readily and cost-effectively ramp-up production operations
when market and other conditions warrant; our continuing ability to avoid dilution of shareholders; the outcome of the report
and recommendations from the U.S. Nuclear Fuel Working Group, including the timeline and scope of proposed remedies, including
the budget appropriations process related to the establishment of the national uranium reserve) and are based on current expectations
that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and
competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any forward-looking
statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish
estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; production rates, methods
and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project
approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors described
in the public filings made by the Company at <U>www.sedar.com</U> and <U>www.sec.gov</U>. Readers should not place undue reliance
on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions
of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect
any change in circumstances or in management&rsquo;s beliefs, expectations or opinions that occur in the future.</P>

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