Ur-Energy Inc. Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Capital assets

Capital assets

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Capital assets

Capital assets

The Company’s capital assets consist of the following:

	December 31, 2012						December 31, 2011
			Accumulated		Net Book				Accumulated		Net Book
	Cost		Depreciation		Value		Cost		Depreciation		Value
	$		$		$		$		$		$

Rolling stock		3,391,524		1,816,212		1,575,312		1,922,483		1,465,362		457,121
Machinery and equipment		418,143		338,594		79,549		296,233		265,578		30,655
Furniture, fixtures and leasehold improvements		81,516		54,929		26,587		74,992		45,880		29,112
Information technology		715,828		510,492		205,336		566,457		430,372		136,085
Construction in progress		14,683,612		-		14,683,612		2,881,336		-		2,881,336

		19,290,623		2,720,227		16,570,396		5,741,501		2,207,192		3,534,309

In October 2012, the Company received the Record of Decision from the Bureau of Land Management which was the final approval required to begin construction at the Lost Creek project. Construction began immediately on the permitted wellfields, additional disposal wells and main plant site include grading, road construction, power lines and fencing. Construction in progress includes all the expenditures incurred prior to receiving the final approval related to plant design and engineering, off-site header house construction and payments on long lead time equipment as well as costs incurred during the quarter. Capitalized costs include direct and supervisory labor including benefits, materials, subcontracts, drilling, depreciation on equipment used exclusively in the construction process and overhead directly attributable to either the facilities or the equipment used in the construction of the facilities.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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