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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) (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.
enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) reported its Q2 2024 results and operational update. Key highlights include:
- Revenue of $36 million from yellowcake sales in the first half of 2024
- Commissioned Alta Mesa ISR facility, becoming the only company with two producing uranium facilities in the US
- Delivered 410,000 pounds of U3O8 at an average price of $87.11 per pound
- Entered seventh uranium supply contract for 200,000 pounds per year in 2028 and 2029
- Q2 revenue: $5.32 million; Gross loss: $3 million; Comprehensive loss: $9.62 million
- Alta Mesa production commenced on June 13, 2024, with promising initial results
- Positive outlook with increasing revenue expected in H2 2024 and beyond
enCore Energy (NASDAQ: EU; TSXV: EU), a uranium producer in Texas, announced its membership in the Texas Nuclear Alliance (TNA). As the first uranium producer to join TNA, enCore Energy's inclusion aligns with TNA's mission of promoting clean and secure nuclear energy. The company operates two In-Situ Recovery (ISR) uranium plants, contributing to Texas and the U.S.' energy security. Paul Goranson, enCore's CEO, emphasized the alignment with TNA's goals, while TNA President Reed Clay highlighted the importance of enCore's production plants in supporting new nuclear developments and energy security.
enCore Energy Corp. (TSXV: EU, NASDAQ: EU) is positioning itself as a leader in America's clean energy transition with sustainable uranium production.
The company operates two uranium processing plants and has zero debt. Its Alta Mesa project, acquired and operational within 18 months, is projected to contribute up to 90% of enCore's revenue.
With the rising demand for clean, dependable power, enCore Energy is set to provide a sustainable and environmentally friendly energy solution.
enCore Energy has commenced uranium production at its Alta Mesa Uranium Central Processing Plant (CPP) and Wellfield in South Texas. This start-up marks enCore as the only U.S. uranium producer with multiple operational facilities. The company anticipates its first yellowcake shipment within 60 to 90 days. The project, acquired in February 2023, was developed in 15 months and is expected to ramp up to full capacity by 2026. The Alta Mesa Project operates under a joint venture with Boss Energy and has a production capacity of 1.5 million lbs. U3O8 annually, with an additional drying capacity of 0.5 million lbs. Additionally, the company is granting stock options to its directors and consultants.
enCore Energy has appointed Ms. Kristi Caplan as Corporate Secretary. She brings over 20 years of experience in corporate governance, legal operations, and risk management. Ms. Caplan has worked with multinational public and private companies, managing legal entities across numerous jurisdictions. She was previously with Critical Project Services, where she led the legal department for their shared services division. She also held a significant role at MIC Global Services, managing legal compliance and governance for Macquarie Group’s infrastructure portfolio. Ms. Caplan holds a B.A. in Law and Policy and a Master of Public Administration. Alongside her appointment, she has been granted 60,000 stock options at $6.25 CDN per share.
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