Encore Energy Stock Price, News & Analysis

enCore Energy reports Q3 2024 results with $45 million revenue from yellowcake sales in the first nine months. The company extracted and packaged 100,261 pounds of yellowcake from its two operational South Texas facilities. Alta Mesa, commissioned in Q2 2024, makes enCore the only U.S. company with two operational uranium processing plants. The company delivered 530,000 pounds at an average price of $84.85 per pound, meeting all contractual commitments. A new contract was secured for 300,000 pounds delivery in 2028-2029. Resource development drilling continues at Upper Spring Creek Project in South Texas and Wyoming projects.

enCore Energy Corp. (NASDAQ: EU) has revealed its 5-year uranium contracting strategy, highlighting seven contracts with U.S. nuclear power plants and one legacy contract with a uranium trading company. The strategy balances revenue stability with spot price exposure through base escalated, un-hedged spot, and collared contracts. Contracted deliveries start at 190,000 lbs U3O8 in Q4-2024, reaching 955,000 lbs by 2029. Estimated revenues range from $11-17M in Q4-2024 to $87-105M in 2029, varying with uranium spot prices between $60-120/lb. The projections assume full utilization of delivery flexibilities and contract extensions.

enCore Energy reports significant progress in uranium production expansion at its Alta Mesa Plant in South Texas. The company is approaching flow capacity at the first of three ion exchange (IX) circuits, each with 2,500 gallons per minute capacity. Since June 2024 startup, Wellfield 7 has expanded from 27 injection and 34 recovery wells to 46 injection and 52 recovery wells, achieving a 2,100 gpm flow rate. The facility's total capacity of 7,500 gpm equals 1.5 million pounds of yellowcake annually when fully operational. The second IX circuit is planned for Q1/25, with the third circuit expected by end of 2025.

enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), a uranium producer and America's Clean Energy Company™, has released its inaugural Sustainability Report. The report, supported by Stantec Inc.'s ESG advisory team, outlines the company's sustainability initiatives, achievements for 2023, and plans for 2024 to 2026. Key highlights include:

• Completion of a Greenhouse Gas Study at Rosita and Alta Mesa In-Situ Recovery Uranium Central Processing Plants
• Reporting on environmental, social, and governance performance
• Completion of enCore's first materiality assessment
• Establishment of sustainability goals and targets

CEO Paul Goranson emphasized the company's commitment to reducing greenhouse gas emissions, enhancing sustainability, and contributing to global decarbonization efforts while ensuring employee and community well-being. The report is available on the company's website.

enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) has appointed Ms. Stacy Nieuwoudt as a Director of the Board. She will also serve on the Audit and Compensation Committees. Ms. Nieuwoudt brings over 20 years of experience in energy and industrial sectors, with expertise in industry valuations and financial analysis. She currently serves as a Director at ProFrac Holdings Corp. and previously held a directorship at Independence Contract Drilling Inc.

Concurrently, Mr. Richard Cherry has resigned as a Director but will remain a Technical Advisor to the Company. In connection with her appointment, Ms. Nieuwoudt has been granted 225,000 stock options at an exercise price of $5.61 CDN, vesting over a 24-month period.

enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) announced positive results from its Alta Mesa In-Situ Recovery Central Processing Plant (CPP) and Wellfield drill program. Highlights include:

1. Drilling at Wellfield 7 yielded intercepts with Grade Thickness (GT) up to 3.615, exceeding the 0.3 GT cutoff for ISR in South Texas.

2. The Alta Mesa CPP is processing 1,700 gallons per minute of pregnant solution from initial patterns in Wellfield 7.

3. Production is expected to increase as additional patterns are completed.

4. Seven drill rigs are in full operation, with plans to double that number over the next 12 months.

5. The Alta Mesa CPP has a total operating capacity of 1.5 million lbs. U3O8 per year, with additional drying and packaging capacity of over 0.5 million lbs. U3O8.

enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), a uranium producer, hosted a grand opening celebration for its Alta Mesa In-Situ Recovery (ISR) Uranium Central Processing Plant (CPP) and Wellfield in South Texas on October 3rd, 2024. The private event, attended by 300 guests, featured a special conversation between George W. Bush, the 43rd President of the United States, and William M. Sheriff, Executive Chairman of enCore Energy.

The grand opening, co-hosted with joint venture partner Boss Energy (ASX: BOE|OTCQX: BQSSF), marked the restart of the Alta Mesa CPP, establishing enCore as the only uranium producer in the United States with multiple production facilities in operation. The event also honored Dr. Dennis Stover, Director of enCore Energy and one of the original developers of ISR technology, for his 50+ years of commitment to the international uranium industry.

enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) has provided an update on the regulatory progress for its 100% owned Dewey-Burdock In-Situ Recovery Uranium Project in South Dakota. The Environmental Appeals Board (EAB) of the EPA has issued a ruling on the Oglala Sioux Tribe's appeal regarding the project's Class III and V Underground Injection Control Permits. The decision is consistent with a previous ruling by the D.C. Circuit Court of Appeals.

Key points from the EAB decision include:

• Denial of OST claims, confirming EPA's compliance with NHPA Sections 106 and 110
• Denial of claims that EPA failed to comply with NEPA
• Remand of some issues to EPA for further action

CEO Paul Goranson stated that this is a significant milestone for advancing the Dewey-Burdock Project, and the remanded portion is expected to be administrative without significantly impacting the project's overall timing.

enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), a uranium producer, reported results from its annual general meeting of shareholders held on August 28, 2024. The meeting saw 129 shareholders voting 102,194,697 shares, representing 55.32% of the company's issued and outstanding shares. All proposed matters were approved, including the election of directors. Notable results include William M. Sheriff receiving 97.77% approval and W. Paul Goranson receiving 99.90% approval. Shareholders also approved the appointment of Davidson & Company LLP as the company's auditor and the company's Long Term Benefit Plan.