enCore Energy Reports Q2 2025 Financial Results, Highlighted by Increased Uranium Extraction Rates and Reduced Costs
enCore Energy (NASDAQ:EU) reported strong Q2 2025 financial results, demonstrating significant operational improvements. The company achieved U3O8 extraction of 203,798 pounds, marking a 79% increase from Q1 2025. During Q2, enCore delivered 60,000 pounds of uranium at $61.07 per pound with a production cost of $42.23.
The company ended Q2 with 244,204 pounds of U3O8 inventory at $39.63 per pound and a cash balance of $26.9 million. Operational efficiency at Alta Mesa improved significantly, with daily production reaching 2,678 pounds in June 2025. The company expanded Wellfield 7 with 75 new wells and plans to increase drill rigs from 24 to 30 in Q3 2025.
enCore Energy (NASDAQ:EU) ha comunicato solidi risultati finanziari per il secondo trimestre 2025, evidenziando notevoli miglioramenti operativi. La società ha raggiunto una estrazione di U3O8 di 203,798 libbre, con un aumento del 79% rispetto al Q1 2025. Nel Q2 enCore ha consegnato 60,000 libbre di uranio a $61.07 per libbra con un costo di produzione di $42.23.
La società ha chiuso il Q2 con 244,204 libbre di scorte di U3O8 a $39.63 per libbra e una liquidità di $26.9 million. L’efficienza operativa ad Alta Mesa è migliorata significativamente, con una produzione giornaliera che ha raggiunto le 2,678 libbre a giugno 2025. L’azienda ha ampliato il Wellfield 7 con 75 nuovi pozzi e prevede di aumentare le piattaforme di perforazione da 24 a 30 nel Q3 2025.
enCore Energy (NASDAQ:EU) informó sólidos resultados financieros del segundo trimestre de 2025, mostrando mejoras operativas significativas. La compañía alcanzó una extracción de U3O8 de 203,798 libras, un incremento del 79% respecto al Q1 2025. Durante el Q2, enCore entregó 60,000 libras de uranio a $61.07 por libra con un costo de producción de $42.23.
La empresa cerró el Q2 con 244,204 libras de inventario de U3O8 a $39.63 por libra y un saldo de efectivo de $26.9 million. La eficiencia operativa en Alta Mesa mejoró notablemente, con una producción diaria que alcanzó las 2,678 libras en junio de 2025. La compañía amplió el Wellfield 7 con 75 nuevos pozos y planea incrementar las plataformas de perforación de 24 a 30 en el Q3 2025.
enCore Energy (NASDAQ:EU)는 2025년 2분기 강력한 재무 실적을 보고하며 운영 측면에서 상당한 개선을 보였습니다. 회사는 U3O8 203,798파운드를 추출해 2025년 1분기 대비 79% 증가를 기록했습니다. 2분기 동안 enCore는 파운드당 $61.07에 60,000파운드의 우라늄을 인도했으며 생산 단가는 $42.23이었습니다.
회사는 2분기 말에 U3O8 재고 244,204파운드를 보유하고 있었고 파운드당 $39.63, 현금 잔액은 $26.9 million이었습니다. Alta Mesa의 운영 효율성은 크게 개선되어 2025년 6월 일일 생산량이 2,678파운드에 도달했습니다. 회사는 Wellfield 7에 75개의 신규 우물을 추가했고 2025년 3분기에 시추 장비를 24대에서 30대로 늘릴 계획입니다.
enCore Energy (NASDAQ:EU) a annoncé de solides résultats financiers pour le deuxième trimestre 2025, montrant des améliorations opérationnelles significatives. La société a réalisé une extraction d'U3O8 de 203,798 livres, soit une hausse de 79% par rapport au T1 2025. Au cours du T2, enCore a livré 60,000 livres d'uranium à $61.07 la livre avec un coût de production de $42.23.
La société a clôturé le T2 avec 244,204 livres d'inventaire d'U3O8 à $39.63 la livre et une trésorerie de $26.9 million. L'efficacité opérationnelle à Alta Mesa s'est nettement améliorée, la production quotidienne atteignant 2,678 livres en juin 2025. La société a étendu le Wellfield 7 avec 75 nouveaux puits et prévoit d'augmenter le nombre de plateformes de forage de 24 à 30 au T3 2025.
enCore Energy (NASDAQ:EU) meldete starke Finanzergebnisse für das zweite Quartal 2025 und zeigte deutliche betriebliche Verbesserungen. Das Unternehmen erzielte eine U3O8-Förderung von 203,798 Pfund, was einem Anstieg von 79% gegenüber dem Q1 2025 entspricht. Im Q2 lieferte enCore 60,000 Pfund Uran zu $61.07 pro Pfund bei Produktionskosten von $42.23.
Zum Ende des Q2 verfügte das Unternehmen über 244,204 Pfund U3O8-Bestand zu $39.63 pro Pfund und einen Barbestand von $26.9 million. Die operative Effizienz in Alta Mesa verbesserte sich deutlich, die tägliche Produktion erreichte 2,678 Pfund im Juni 2025. Das Unternehmen hat Wellfield 7 um 75 neue Brunnen erweitert und plant, die Bohrgeräte im Q3 2025 von 24 auf 30 zu erhöhen.
- Q2 2025 net loss improved to $0.03 per share from $0.12 in Q2 2024
- U3O8 extraction increased 79% from Q1 2025 to 203,798 pounds
- Production costs decreased significantly with weighted average cost of $59.42/lb vs $100.71/lb year-over-year
- Strong operational efficiency improvements with daily production increasing from 1,942 lb/day in April to 2,678 lb/day in June
- Successful expansion with 75 new wells added and plans to increase drill rigs to 30
- Company still operating at a net loss
- Transferred 72,972 pounds of U3O8 to joint venture partner Boss Energy Ltd
Insights
enCore Energy significantly improved Q2 performance with 79% uranium extraction growth and 40% cost reduction versus 2024, demonstrating operational momentum.
enCore Energy's Q2 2025 results demonstrate substantial operational improvements at their ISR uranium assets. The company achieved a
The most significant advancement is in production economics. enCore's weighted average cost for extracted uranium dropped to
The aggressive wellfield development strategy is particularly noteworthy. With 75 new wells added in Q2 and plans to increase drilling rigs from 24 to 30, enCore is building capacity for sustained production growth. The 4-5 week expansion cycle demonstrates systematic execution of their development plan.
Equally important is the regulatory progress, with the Upper Spring Creek project now included in their existing Radioactive Materials License. This permit expansion allows construction of wellfields and a satellite IX plant to feed the Rosita processing facility, effectively increasing future production capacity without the delays typically associated with new permitting.
With
NASDAQ:EU
TSXV:EU
www.encoreuranium.com
Highlights for three months ended June 30, 2025 include:
- Three months ended June 30, 2025 net loss per share
$(0.03) $(0.12) - Sale (delivery) into contract of 60,000 pounds of uranium ("U3O8") at a sales price of
$61.07 $42.23 - Three months ended June 30 U3O8 extraction of 203,798 pounds, an increase of 89,983 pounds or an increase of
79% from the first quarter of 2025; - Closing balance of 244,204 pounds of U3O8 in inventory at a cost of
$39.63 - Closing cash and equivalent balance of
$26.9 million $30.2 million
Highlights for six months ended June 30, 2025 Include:
- Weighted average cost of U3O8 sold of
$59.42 $100.71 - Delivery of 350,000 pounds of U3O8 into sales contracts at an average price of
$62.58 - In addition to sales of 350,000 pounds, 72,972 pounds of U3O8 were transferred to Boss Energy Ltd, the
30% joint venture partner at the Alta Mesa Project; - No U3O8 has been, nor is forecasted to be, purchased in 2025.
Operational Updates:
- Improvements in operational efficiency at Alta Mesa In-Situ Recovery ("ISR") Uranium CPP and Wellfield ("Alta Mesa") continued through the second quarter with monthly increases in U3O8 extraction during the second quarter. Daily production averaged 2,678 pounds per day in June 2025, 2,103 pounds per day in May 2025 and 1,942 pounds per day in April 2025;
- Wellfield development at the Alta Mesa Project's Wellfield 7 continued to expand throughout the second quarter with the addition of 75 wells: 35 extraction wells and 40 injection wells. This is part of the ongoing ramp up strategy to advance wellfield expansion every 4 to 5 weeks. Wellfield development has been ongoing at an accelerated rate with a total of 24 drill rigs in operation across the
South Texas operations at the end of the quarter. The Company anticipates increasing the number of drill rigs operating to 30 in the third quarter of 2025; - Important permitting progress during the second quarter was highlighted by the inclusion of the Upper Spring Creek ISR Uranium Project in the existing Radioactive Materials License ("RML") from the
Texas Commission on Environmental Quality ("TCEQ"). This license allows the Company to handle radioactive materials, which includes the final product, U3O8. The current RML includes the Rosita ISR Uranium Project, which has now been extended to cover the Upper Spring Creek Project'sBrown Area . The RML allows the construction of wellfields and a Satellite Ion Exchange ("IX") Plant which will provide feed for the Rosita ISR Uranium Central Processing Plant. Construction activities commenced during the quarter.
Total Costs of U3O8 Sold in Q2-2025 | ||||||
Pounds U3O8 | Cost in '000 | Cost/pound | ||||
Total Cost of all Pounds | 350,000 | |||||
1Purchased (2024) | 225,000 | |||||
Extracted total cost | 125,000 | |||||
Extracted | 2cash cost | |||||
3non-cash cost | ||||||
1-lower of actual cost or market price as of end Q2-2025 | |||||||||
2-cash costs of extracted pounds related to cost of goods sold are a metric for investors in evaluating the Company's operations | |||||||||
3-non-cash costs of extracted pounds related to cost of goods sold is an insight into additional expenses that impact overall costs and include depletion and certain sales related fees |
Inventory Remaining on Hand (end Q2-2025) | |||||||||
Pounds U3O8 | Cost in '000 | Cost/pound | |||||||
Total Cost of Inventory | 244,204 | ||||||||
1Purchased (2024) | 20,000 | ||||||||
Extracted total cost | 224,204 | ||||||||
Extracted | 2cash cost | ||||||||
3non-cash cost | |||||||||
1-lower of actual cost or market price as of end Q2-2025 | |||||||||
2-cash costs of extracted pounds related to cost of goods sold are a metric for investors in evaluating the Company's operations | |||||||||
3-non-cash costs of extracted pounds related to cost of goods sold is an insight into additional expenses that impact overall costs and include depletion |
About the Alta Mesa ISR Uranium CPP and Wellfield ("Alta Mesa Uranium Project")
The Alta Mesa Uranium Project hosts a fully licensed and constructed ISR Central Processing Plant and operational wellfield located on 200,000+ acres of private land and mineral rights in and regulated by the state of
The Alta Mesa CPP historically produced nearly 5 million pounds of uranium between 2005 and 2013 when production was curtailed as a result of low prices. The Alta Mesa Uranium Project utilizes well known ISR technology to extract uranium in a non-invasive process using natural groundwater and oxygen. Currently, oxygenated water is being circulated in the wellfield through injection or extraction wells plumbed directly into the primary pipelines feeding the Alta Mesa CPP. Expansion of the wellfield will continue, with extraction to steadily increase from the wellfield as expansion continues through 2025 and beyond.
About the Upper Spring Creek ISR Uranium Project
The
Rosita ISR Uranium Central Processing Plant
The Rosita CPP can receive uranium-loaded resin from remote project areas across the
Investor Information
enCore's interim financial statements, including the accompanying Management's Discussion and Analysis, are available in the Company's Quarterly Report on Form 10-Q, to be filed with the SEC. The report can be accessed at www.sec.gov and on enCore's investor relations page at www.encoreuranium.com. The Company is filing its second quarter Form 10-Q with the
Technical Disclosure and Qualified Person
John M. Seeley, Ph.D., P.G., C.P.G., enCore's Chief Geologist, and a Qualified Person under Canadian National Instrument 43-101 and S-K 1300, has reviewed and approved the technical disclosure in this news release on behalf of the Company.
About enCore Energy Corp.
enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only
enCore operates the
Following upon enCore's demonstrated success in
Cautionary Note Regarding Forward Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that are based on management's current expectations, assumptions, and beliefs. Forward-looking statements can often be identified by such words as "expects", "plans", "believes", "intends", "continue", "potential", "remains", and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", or "will" be taken.
Forward-looking statements and information that are not statements of historical fact include, but are not limited to, any information relating to statements regarding future or potential extraction, and any other statements regarding future expectations, beliefs, goals or prospects, statements regarding the success of current and future ISR operations, including projects in our pipeline, our development plans, including increases in operational drilling rigs and ongoing ramp up strategies, forecasts relating to uranium purchases, our future extraction plans and expectations and our commitment to working with local communities and indigenous governments to create positive impact from corporate developments should be considered forward looking statements. All such forward-looking statements are not guarantees of future results and forward-looking statements are subject to important risks and uncertainties, many of which are beyond the Company's ability to control or predict, that could cause actual results to differ materially from those expressed in any forward looking statement, including those described in greater detail in our filings with the SEC and on SEDAR+, particularly those described in our Annual Report on Form 10-K, annual information from and MD&A. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with assumptions regarding project economics; discount rates; expenditures and the current cost environment; timing and schedule of the projects, general economic conditions; adverse industry events; future legislative and regulatory developments; the ability of enCore to implement its business strategies; and other risks. A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including without limitation exploration and development risks, changes in commodity prices, access to skilled personnel, the results of exploration and development activities; extraction risks; uninsured risks; regulatory risks; defects in title; the availability of materials and equipment, timeliness of government approvals and unanticipated environmental impacts on operations; litigation risks; risks posed by the economic and political environments in which the Company operates and intends to operate; increased competition; assumptions regarding market trends and the expected demand and desires for the Company's products and proposed products; reliance on industry equipment manufacturers, suppliers and others; the failure to adequately protect intellectual property; the failure to adequately manage future growth; adverse market conditions, the failure to satisfy ongoing regulatory requirements and factors relating to forward looking statements listed above. Should one or more of these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The Company assumes no obligation to update the information in this communication, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company with the various securities commissions which are available online at www.sec.gov and www.sedarplus.ca. Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Non-GAAP Financial Measures
This press release contains non-GAAP financial measures. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets or statements of cash flows of the Company. The non-GAAP financial measures used within this press release are total cost of extracted pounds, uranium cost per extracted pound, total cost of extracted inventory and uranium cost per extracted pound in inventory. Total cost of extracted pounds is the cost of sales less the cost of sales of purchased goods, which includes the aggregate purchase price of uranium sourced from purchased uranium. Uranium cost per extracted pound is the total cost of extracted pounds divided by the pounds of uranium extracted during the period. Total cost of extracted inventory is inventory less purchased uranium inventories. Uranium cost per pound of extracted inventory is the total cost of extracted inventory divided by pounds of extracted inventory. We consider the total cost of extracted pounds, uranium cost per extracted pound total cost of extracted inventory and uranium cost per pound of extracted inventory, including allocations of cash and non-cash costs, in evaluating the efficiency and cost-effectiveness of the Company's extraction operations and overall cost structure. The presentation of non-GAAP financial measures should not be considered in isolation or as a substitute for reported results under
View original content to download multimedia:https://www.prnewswire.com/news-releases/encore-energy-reports-q2-2025-financial-results-highlighted-by-increased-uranium-extraction-rates-and-reduced-costs-302526132.html
SOURCE enCore Energy Corp.
FAQ
What was enCore Energy's (NASDAQ:EU) uranium production in Q2 2025?
How much uranium inventory does enCore Energy (EU) have as of Q2 2025?
What is enCore Energy's (EU) production cost per pound in Q2 2025?
How many drill rigs does enCore Energy operate in South Texas?
What was enCore Energy's (EU) cash position at the end of Q2 2025?
