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enCore Energy Corp. announced that the acquisition of the Alta Mesa project from Energy Fuels Inc. is set to close by February 15, 2023, pending final stock exchange approval. This strategic move positions enCore as a leading US-focused ISR uranium company, enhancing its portfolio with multiple production opportunities. The company aims to become the next uranium producer from its South Texas Rosita Processing Plant in 2023, with additional mid-term and long-term projects in South Dakota and New Mexico.
enCore Energy Corp. has secured a contract to supply 100,000 pounds of natural uranium concentrates (U3O8) to the U.S. government at $70.50 per pound. This marks the first U.S. government uranium purchase in 40 years and aims to establish a strategic reserve for nuclear power. Additionally, enCore applied for membership in the DOE's HALEU Consortium, enhancing its competitive advantage in the uranium market. The proceeds will support production at enCore's Rosita Project in 2023, reaffirming its role in domestic uranium supply.
On December 15, 2022, enCore Energy Corp. announced that the U.S. Court of Appeals denied the Oglala Sioux Tribe's request for a full panel review regarding the Nuclear Regulatory Commission's decision to grant a source materials license for the Dewey-Burdock uranium project in South Dakota. This follows a prior ruling affirming the NRC's compliance with regulations. The Sioux Tribe may petition the Supreme Court within 90 days. The Dewey-Burdock project includes substantial uranium resources and is projected to produce 14.3 million pounds over 16 years, with a pre-tax NPV of $171.3 million.
enCore Energy Corp. (OTCQB: ENCUF) has completed the refurbishment of its Rosita Central Uranium Processing Plant in Texas, a key step towards its planned production startup in 2023. This completion, which faced delays due to supply chain issues, is essential for enCore's goal of becoming a significant producer of American uranium. The Rosita Plant will undergo wet commissioning through the remainder of 2022 to prepare for operations. enCore also holds significant uranium resources, with approximately 90 million pounds in measured and indicated categories, bolstering its position in the U.S. uranium market.
enCore Energy Corp. announced today that its shares began trading on a consolidated basis of one new share for every three former shares, effective September 14, 2022. This consolidation is part of the company's application to uplist its shares to the NASDAQ market. The consolidated shares will continue to trade on the TSX.V under the symbol 'EU' and on the OTC market under 'ENCUD'. enCore is focused on uranium production, aiming to utilize its South Texas Rosita Processing Plant by 2023, with future projects in South Dakota, Wyoming, and New Mexico.
enCore Energy Corp. announced a share consolidation of one post-consolidation share for every three existing shares in connection with its application to list on the Nasdaq. This change takes effect on September 14, 2022, aiming to enhance visibility and attract institutional investors. Following the consolidation, approximately 107.6 million shares will remain outstanding. The move is also expected to adjust outstanding warrants and stock options proportionately. However, the completion of the Nasdaq listing is subject to regulatory approvals.
enCore Energy Corp. announced the completion of five baseline wells at its Rosita Extension Project, yielding significant uranium values. Highlights include a 22-foot mineralization grading 0.234% U3O8 and the start of production well installations. The Rosita Processing Plant refurbishment progresses on schedule, with a production startup expected in 2023 despite supply chain delays. With approximately 90 million pounds of U3O8 in measured and indicated resources, enCore aims to become a leading uranium producer in South Texas.
enCore Energy Corp. (OTCQB: ENCUF) has successfully completed the installation of 43 monitoring wells at its Rosita Extension Production Area Authorization (PAA) in South Texas. This milestone is crucial for advancing in-situ recovery uranium production, which contributes to clean nuclear energy in the U.S. The Rosita Extension PAA is strategically located within existing licensed areas and extends approximately 3,000 feet. Future work involves establishing groundwater quality standards, with production slated to start in 2023, supporting enCore's goal of becoming a leading uranium producer.
enCore Energy Corp. has received a favorable ruling from the U.S. Court of Appeals regarding the licensing for its Dewey Burdock Uranium Project in South Dakota. The court upheld the Nuclear Regulatory Commission's decision to grant Powertech Uranium, a subsidiary of enCore, a license to extract uranium. The Dewey Burdock Project, covering 12,613 surface acres, is projected to produce 14.3 million pounds of U3O8 over 16 years. Initial capital expenditures are estimated at $31.7 million, with a pre-income tax NPV of $171.3 million and an IRR of 55%.
enCore Energy Corp. announced positive results from its ongoing uranium delineation drilling at the Rosita Project in South Texas. The recent drilling confirmed significant mineralization in 59 of 145 drill holes, with 37 holes showing a Grade Thickness (GT) above 0.3. High-grade mineralization was noted in 8 holes with a GT between 0.85 and 1.73. The drilling has identified three distinct mineralized horizons and expanded operations with four drill rigs. The Rosita ISR Processing Plant refurbishment remains on budget and is expected to meet production schedules in 2023.