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 Corp. (NASDAQ: EU) has entered into a share purchase agreement with Verdera Energy Corp. to sell its New Mexico uranium assets, including the Crownpoint, Hosta Butte, Nose Rock, West Largo, and Ambrosia Lake-Treeline projects. The transaction terms include:
- 50,000,000 non-voting preferred shares of Verdera (73% ownership)
- 2% net proceeds royalty on uranium
- 2% net smelter returns royalty on other minerals
- US $350,000 cash payment
Verdera will pursue a Canadian stock exchange listing by December 10, 2025 (extendable to January 31, 2026). Upon listing, 15M shares will convert to common shares retained by enCore, while 35M shares will be distributed to enCore shareholders as dividends. The Properties are located in the historic Grants Uranium District, which has produced ~350 million pounds U3O8, representing 40% of all uranium mined in the US.
enCore Energy (NASDAQ: EU) has successfully launched its second Ion Exchange (IX) Circuit at the Alta Mesa In-Situ Recovery Uranium Central Processing Plant, doubling the total flow capacity from 2,500 to 5,000 gallons per minute (GPM). The expansion enhances uranium capture capabilities, with the facility now utilizing approximately 75% of current processing capacity.
Key operational highlights include:
- Alta Mesa's wellfield achieves 80% uranium capture in just over 4 months, significantly faster than typical 12-15 month recovery periods
- 17 drill rigs currently operating at Alta Mesa, with 43 injection wells and 36 recovery wells added to Wellfield 7
- Plans to reactivate Wellfield 6 within 6 months, which contains 370,000 lbs of remaining Measured uranium resource
- A third IX Circuit planned for 2026 will increase processing capacity to 7,500 GPM
enCore Energy Corp. (NASDAQ: EU) has provided an update on its accelerated expansion plans at its South Texas uranium extraction operations. The company's Alta Mesa asset has demonstrated successful uranium extraction, achieving approximately 80% uranium capture in just over 4 months due to a steep wellfield decline curve.
To meet production goals, the company is implementing an aggressive drilling and well completion schedule. The board has directed management to execute an accelerated action plan, with board members including Dr. Dennis Stover and the technical team currently on-site to oversee implementation.
Key initiatives include:
- Increased drilling and wellfield installation
- Accelerated permitting pace
- Enhanced collaborative efforts
enCore Energy Corp. (NASDAQ: EU) reported its fiscal year 2024 financial results, achieving $58 million in revenue, a 163% increase from 2023. The company completed eight uranium sales totaling 720,000 pounds U3O8 at an average price of $81.02 per pound.
Key financial metrics include a net loss of $61.3 million ($0.34 per share) compared to $25.6 million loss in 2023, with $39.7 million in cash at year-end. The company extracted 288,589 pounds U3O8, the largest amount among U.S. producers in 2024.
Operational highlights include the startup of two uranium recovery operations: Rosita CPP (November 2023) and Alta Mesa CPP (June 2024). The company secured twelve uranium sales agreements with U.S. nuclear power plants, committing 8.30 million pounds U3O8 from 2025-2033, with potential for additional 2.2 million pounds.
As of March 2, 2025, Robert Willette was appointed Acting CEO, replacing Paul Goranson.
Brightmark RNG Holdings , a joint venture between Chevron U.S.A. Inc. and Brightmark Fund Holdings , has announced first gas delivery at 10 new renewable natural gas (RNG) projects across the Midwest. This expansion makes Brightmark one of the leading dairy RNG providers in the U.S., now operating 15 RNG projects in the region that generates 43% of the nation's agricultural products.
The company has achieved a reduction of over 1.2 million tons of CO₂eq through its RNG circularity centers, equivalent to carbon sequestered by 20 million trees over 10 years. The process involves collaborating with farmers to produce RNG through anaerobic digestion, collecting organic waste and upgrading it into transportation fuel.
enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), America's Clean Energy Company, has announced its participation in the upcoming Prospectors & Developers Association of Canada's (PDAC) Convention. The event will take place at the Metro Toronto Convention Centre from March 2-5, 2025.
Investors and attendees can visit enCore Energy at Booth #3028 in the Investor's Exchange. Additionally, Executive Chairman William M. Sheriff will deliver a corporate presentation during the uranium track at the Investor's Forum on Tuesday, March 4 at 3:38 pm in room 801A.
enCore Energy has filed a new S-K 1300 Technical Report Summary for its Dewey-Burdock Project in South Dakota. The project shows Measured and Indicated Resources of 17,122,147 lbs eU3O8 at 0.12% average grade, and Inferred Resources of 712,624 lbs eU3O8 at 0.06% grade.
The preliminary economic assessment demonstrates strong economics with an after-tax Net Present Value of $133.6 million (8% discount rate) and an IRR of 33%. The project has received its Source Material License, Aquifer Exemption, and Underground Injection Control Permits. The Central Processing Plant will have a capacity to process 1 million pounds of uranium annually, with total expected recovery exceeding 14 million pounds.
The estimated total capital costs are $264.2M with operating costs of $23.81/lb of U3O8. Construction is anticipated to commence in early 2027, with permitting completion expected in Q3 2026.
enCore Energy (NASDAQ: EU) announces two significant changes effective January 1, 2025: its reporting status with the SEC will change from a foreign filer to a U.S. domestic filer, and the appointment of KPMG LLP as its new auditor. The company will begin filing annual and quarterly reports on Form 10-K and Form 10-Q, starting with the Form 10-K for the financial year ending December 31, 2024. The auditor transition from Davidson & Company LLP was approved by the Board and occurred without any disagreements or reportable events regarding accounting principles, practices, or procedures.
enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), a uranium producer and America's Clean Energy Company, has announced its participation in the 50th Annual New Orleans Investment Conference. The company will deliver a corporate presentation on Friday, November 22nd at 10:55 am CT at the Hilton New Orleans Riverside, specifically in room Churchill B2 on the second floor.
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.