Welcome to our dedicated page for enCore Energy news (Ticker: EU), a resource for investors and traders seeking the latest updates and insights on enCore Energy stock.
enCore Energy Corp. (NASDAQ: EU, TSXV: EU) is a leading uranium producer in the United States, strategically focused on advancing its portfolio of uranium assets primarily using the sustainable and efficient In-Situ Recovery (ISR) technology. The company holds a 100% interest in about 115,000 acres of private mineral rights, including notable uranium deposits such as Crownpoint and Hosta Butte in New Mexico. Additionally, enCore Energy has significant interests in projects such as the Marquez Project and the Nose Rock Project in New Mexico, along with the Moonshine Springs Project in Arizona and several properties in Utah's White Canyon District.
enCore Energy's flagship projects include the Rosita Project and Alta Mesa Uranium Project in Texas, the Dewey-Burdock Project in South Dakota, and the Gas Hills Project in Wyoming. The company recently marked a significant milestone by commencing uranium production at the Rosita Central Processing Plant (CPP) in November 2023. This was followed by a successful Grand Opening in February 2024, attended by key stakeholders and industry leaders.
The company’s innovative approach involves the use of ISR technology, which extracts uranium in a non-invasive manner using natural groundwater and oxygen, coupled with a proven ion exchange process. This method is both environmentally friendly and cost-effective, positioning enCore Energy as a key player in the clean energy sector.
enCore Energy's management team comprises industry veterans with extensive experience in ISR uranium operations and the nuclear fuel cycle. As of early 2024, the company has strengthened its market presence by listing on the Nasdaq Capital Market and maintaining its listing on the TSX Venture Exchange.
Financially, enCore Energy has achieved notable progress, including the elimination of its debt through the conversion of a $20 million convertible promissory note and securing significant proceeds from its at-the-market (ATM) equity offering program. The company’s robust financial health is further supported by strategic partnerships, such as the joint venture with Boss Energy, which brought an investment of $70 million, enabling accelerated development of enCore's extensive project pipeline.
Looking ahead, enCore Energy is poised for growth with plans to restart uranium production at the Alta Mesa CPP in Q2 2024 and advance additional projects like the Dewey-Burdock and Gas Hills. The company's commitment to providing clean, reliable, and affordable nuclear energy positions it as a vital contributor to the growing demand for sustainable energy solutions in the United States.
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.
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.
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