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.
About enCore Energy Corp.
enCore Energy Corp. (NASDAQ: EU), branded as "America's Clean Energy Company™," is a leading uranium producer committed to providing clean, reliable, and affordable fuel for nuclear energy. The company operates exclusively within the United States and specializes in In-Situ Recovery (ISR) technology, a proven and environmentally sustainable method for uranium extraction. By utilizing ISR, enCore minimizes surface disruption and eliminates the need for open-pit mining, making it a preferred choice for eco-conscious energy production.
Core Operations and Assets
enCore Energy's portfolio includes a diverse range of uranium assets located across the United States, including Texas, South Dakota, Wyoming, and New Mexico. The company operates two fully licensed and producing ISR facilities in Texas: the Rosita Central Processing Plant (CPP) and the Alta Mesa CPP. Together, these facilities make enCore the only uranium producer in the U.S. with multiple operational processing plants.
Key projects in the company's pipeline include the Dewey-Burdock Project in South Dakota and the Gas Hills Project in Wyoming, as well as significant uranium resources in New Mexico. These assets position enCore as a critical player in the domestic uranium supply chain, catering to the growing demand for nuclear energy in the U.S.
Innovative Technology and Expertise
enCore Energy exclusively employs In-Situ Recovery (ISR) technology, a minimally invasive extraction method that uses natural groundwater and oxygen to recover uranium. This technique not only reduces environmental impact but also accelerates the permitting, development, and remediation processes. The company’s leadership team comprises industry veterans with extensive experience in ISR technology and the nuclear fuel cycle, further solidifying its expertise and operational efficiency.
Strategic Positioning
enCore Energy is strategically positioned to support America's energy transition and energy security goals. By focusing on domestic uranium production, the company reduces reliance on imported nuclear fuel, thereby enhancing energy independence. Its commitment to operational excellence, community engagement, and environmental stewardship aligns with the broader goals of sustainable energy development.
Competitive Advantages
- Dual Production Facilities: enCore's Rosita and Alta Mesa plants provide a unique competitive edge as the only dual-operational uranium producer in the U.S.
- ISR Expertise: The company's exclusive use of ISR technology sets it apart from competitors relying on conventional mining methods.
- Diverse Asset Portfolio: enCore's extensive resource base across multiple states ensures long-term production capabilities.
- Proprietary Databases: enCore leverages a comprehensive uranium database to enhance exploration and resource development.
Commitment to Community and Sustainability
enCore Energy is dedicated to fostering positive relationships with local communities and indigenous governments. The company actively engages in initiatives that create shared value and ensure responsible resource development. Its focus on ISR technology further underscores its commitment to sustainability and environmental responsibility.
Conclusion
enCore Energy Corp. stands as a cornerstone in the U.S. uranium industry, combining technological innovation, strategic asset management, and a commitment to clean energy. With its robust operational framework and focus on sustainability, enCore is well-positioned to meet the growing demand for nuclear energy while contributing to a cleaner, more sustainable future.
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.
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.
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.
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