enCore Energy Corp. produces and develops uranium in the United States using in-situ recovery, or ISR, extraction. News about EU commonly covers operating results from South Texas uranium operations, sales and delivery of U3O8, wellfield efficiency, project development, and the company's portfolio of U.S. ISR uranium assets.
Recurring updates also address the Alta Mesa ISR Uranium Project, including its licensed central processing plant and wellfield work, the Dewey-Burdock Project permitting track, balance-sheet actions such as warrant exercises, board and executive changes, and corporate communications involving strategic uranium holdings.
enCore Energy (NASDAQ:EU) has announced the promotion of Dain McCoig from Senior Vice President to Chief Operating Officer, following significant operational achievements at the Alta Mesa ISR Uranium Project. Under McCoig's leadership, the company has more than doubled uranium extraction rates since early March 2025.
Key operational highlights include: Q2 2025 uranium extraction of 203,797 lbs, up from 113,816 lbs in Q1; expansion to 25 active drill rigs in South Texas with plans to increase to 30 rigs by August 2025; and installation of 75 new wells in Wellfield 7 during Q2. Monthly extraction rates have shown consistent growth, reaching 80,346 lbs in June 2025.
enCore Energy (NASDAQ: EU) reported exceptional uranium extraction performance at its Alta Mesa In-Situ Recovery Uranium Central Processing Plant. The facility achieved record uranium capture rates exceeding 3,000 pounds per day, with a peak of 3,705 pounds on June 20, 2025.
The company's operational highlights include average daily uranium capture of 2,410 pounds in June 2025, totaling 53,022 pounds for the first 22 days. Wellfield development continues with 24 drill rigs in operation across South Texas, including 14 rigs at Alta Mesa Project Wellfield 7, where 28 new wells were added. The company also acknowledged Texas's recent legislation supporting nuclear energy and streamlining uranium recovery permitting.
enCore Energy reports continued progress in wellfield operations at the Alta Mesa Uranium Central Processing Plant. The company has successfully installed 32 wells (15 extractors and 17 injectors) with uranium-bearing solution scheduled for CPP delivery by April 23, 2025, achieving their fastest installation rate of under two days per well.
Key developments include the implementation of PathCAD™ wellfield simulation software for improved management and optimization, and the strategic renaming of Wellfield 8 to Wellfield 3-Ext due to new delineation drilling findings. This change is expected to reduce permitting timelines and installation costs while enabling uranium recovery from the previously operated Wellfield 3.
The company also announced the promotion of Dain McCoig to Senior Vice President of Operations, recognizing his important role in successfully restarting both Rosita and Alta Mesa Central Processing Plants since joining in June 2023.
enCore Energy (NASDAQ: EU) has announced the appointment of Nathan Tewalt to its Board of Directors. Tewalt, who previously served on enCore's board from 2017 to 2022, brings over 40 years of experience as an economic geologist in the mineral extraction industry.
As former CEO and President of Standard Uranium Inc., Tewalt was instrumental in acquiring the Hobson In-Situ Recovery Central Processing Plant in Texas, which led to the company's acquisition by Energy Metals Corp., later purchased by Uranium One for $1.8 billion. He holds a BSc in Geology from Colorado State University with a focus on ore deposit geology.
William M. Sheriff, enCore's Executive Chairman, welcomed Tewalt's return during the company's accelerated growth phase, highlighting his valuable industry knowledge and familiarity with enCore's operations.
enCore Energy Corp. (NASDAQ: EU) has completed the sale of its New Mexico uranium assets to Verdera Energy Corp. The transaction includes the Crownpoint, Hosta Butte, Nose Rock, West Largo, and Ambrosia Lake – Treeline uranium projects.
As compensation, enCore received:
- 50,000,000 non-voting preferred shares of Verdera (approximately 73% ownership on a fully diluted basis)
- 2% royalty on uranium and other minerals from the Properties
- US $350,000 cash payment
A side letter agreement dated April 4, 2025, provides for enCore's consent to Verdera's going public transaction and future distribution of 35,000,000 converted common shares to enCore shareholders following Verdera's listing on a Canadian stock exchange.
enCore Energy (NASDAQ: EU) reported significant operational progress at its Alta Mesa In-Situ Recovery Uranium Central Processing Plant, capturing 50,000 pounds of uranium in the last 26 days of March 2025, averaging over 1,900 pounds per day. The company has delivered 290,000 pounds of uranium under utility contracts in 2025, with an additional 365,000 pounds expected through the year.
With approximately $40 million USD in treasury assets, enCore has expanded its drilling operations to 21 rigs at Alta Mesa, with plans to add up to 12 more rigs. The company announced key management changes, including Rob Willette's appointment to the Board of Directors and Daniel Calderon's promotion to Director of Texas Operations.
Operations at Wellfield 6 are set to resume in Q4 2025, while development continues at Wellfields 7 and 8. The company has accelerated its August 2025 contract delivery to May 2025 due to improved uranium capture rates.
enCore Energy (NASDAQ: EU) has announced the establishment of the Dr. Dennis Stover Fellowship at Texas A&M University-Kingsville (TAMUK) through the enCore Energy Education Society. The fellowship, supported by an initial $120,000 endowment, will provide financial assistance to outstanding graduate students pursuing a master's degree in chemical engineering.
The fellowship honors Dr. Dennis Stover, a Director of enCore Energy and pioneer in In-Situ Recovery (ISR) uranium extraction technology. Dr. Stover's five-decade career began in South Texas with the first commercial ISR operation at Clay West uranium project in 1975, and he currently leads advancement efforts at enCore's Alta Mesa Project.
The merit-based fellowship, funded by enCore Energy Corp, Boss Energy , and supporting companies, aims to support students showing academic excellence and commitment to advancing engineering and nuclear technologies.