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Yahoo
a day ago
- Business
- Yahoo
enCore Energy Corp. Announces Proposed Offering of $75 Million of Convertible Senior Notes Due 2030
NASDAQ:EUTSXV:EU DALLAS, Aug. 19, 2025 /CNW/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company™, announced today that it intends to offer, subject to market and other conditions, $75 million in aggregate principal amount of convertible senior notes due 2030 (the "Convertible Notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In connection with the offering of the Convertible Notes, enCore expects to grant the initial purchasers of the Convertible Notes a 13-day right to purchase up to an additional $11.25 million aggregate principal amount of Convertible Notes. The Convertible Notes will be senior unsecured obligations of enCore, will bear interest payable semi-annually in arrears and will mature on August 15, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms. Holders will have the right to convert their Convertible Notes in certain circumstances and during specified periods. The Company will settle conversions either in cash, common shares or in a combination of cash and common shares. enCore may redeem for cash all or any portion of the Convertible Notes, at its option, at any time, and from time to time, on or after August 21, 2028, and on or before the 40th scheduled trading day immediately before the maturity date, if the last reported sale price per common share exceeds 130% of the conversion price for a specified period of time. In addition, the Convertible Notes will be redeemable, in whole and not in part, at enCore's option at any time in connection with certain changes in tax law. The redemption price will be equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The interest rate, initial conversion rate and other terms of the Convertible Notes will be determined at the time of the pricing of the offering. enCore intends to use a portion of the net proceeds from the offering of the Convertible Notes to pay the cost of entering into capped call transactions in connection with the Convertible Notes. The Company intends to use the remainder of the net proceeds from the Convertible Notes offering to repay amounts outstanding under its loan agreement and for general corporate purposes. If the initial purchasers exercise their option to purchase additional Convertible Notes, enCore intends to use a portion of the additional net proceeds to pay the cost of entering into additional capped call transactions and the remainder of net proceeds for general corporate purposes. The capped call transactions would be privately negotiated with certain financial institutions (the "option counterparties"). The capped call transactions are expected to cover, subject to anti-dilution adjustments, the number of common shares initially underlying the Convertible Notes, including any additional Convertible Notes issuable upon exercise of the initial purchasers' option to purchase additional Convertible Notes. The capped call transactions are expected generally to reduce the potential dilution to enCore's common shares upon any conversion of the Convertible Notes and/or offset any cash payments enCore is required to make in excess of the principal amount of converted Convertible Notes, as the case may be, with such reduction and/or offset subject to a cap. In connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to enCore's common shares and/or purchase common shares concurrently with or shortly after the pricing of the Convertible Notes. This activity could increase (or reduce the size of any decrease in) the market price of the Company's common shares or the Convertible Notes at that time. In addition, the option counterparties or their respective affiliates expect to modify their hedge positions by entering into or unwinding various derivatives with respect to enCore's common shares and/or purchasing or selling enCore's common shares or other securities following the pricing of the Convertible Notes and prior to the maturity of the Convertible Notes (and are likely to do so during the observation period related to any conversions of the Convertible Notes on or after May 15, 2030, or following early termination of any portion of the capped call transactions in connection with any repurchase, redemption or early conversion of the Convertible Notes). This activity could also cause or avoid an increase or decrease in the market price of enCore's common shares or the Convertible Notes, which could affect the holders' ability to convert the Convertible Notes and, to the extent the activity occurs during any observation period related to a conversion of the Convertible Notes, it could affect the amount of cash and/or the number and value of common shares, if any, that holders will receive upon conversion of the Convertible Notes. The Convertible Notes will be offered only to persons reasonably believed to be "qualified institutional buyers" under Rule 144A of the Securities Act. The Convertible Notes and enCore's common shares issuable upon conversion of the Convertible Notes, if any, have not been and will not be registered under the Securities Act, or any state securities laws, or qualified by way of a prospectus in any province or territory of Canada. As a result, neither the Convertible Notes nor any common shares issuable upon conversion of the Convertible Notes may be offered or sold in the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws, and may not be offered or sold to persons located or resident in Canada except pursuant to an exemption from the prospectus requirements of applicable Canadian securities laws. This news release is neither an offer to sell nor a solicitation of an offer to buy the Convertible Notes or any common shares issuable upon conversion of the Convertible Notes, nor will there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About enCore Energy Corp. enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium company with multiple Central Processing Plants in operation. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy. Following upon enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The Company holds other assets including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments. Cautionary Note Regarding Forward Looking Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Any statements contained in this press release that are not based on historical facts, including statements about the offering, the intended use of proceeds, the terms of the Convertible Notes, the capped call transactions, third parties entering into or unwinding derivative transactions with respect to the Company's common shares and/or purchasing or selling the Company's common shares, and the potential impact of the foregoing on dilution to enCore's shareholders or the offset of any cash payments enCore is required to make in excess of the principal amount of converted Convertible Notes, the market price of the Company's common shares or the Convertible Notes or the initial conversion price of the Convertible Notes, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that are based on management's current expectations, assumptions and beliefs. Forward-looking statements can often be identified by such words as "will", "expects", "plans", "believes", "intends", "estimates", "projects", "continue", "potential", and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", or "will" be taken. These forward-looking statements are predictions reflecting the best judgment of senior management and reflect our current expectations regarding the offering, the intended use of proceeds, the terms of the Convertible Notes, the capped call transactions, third parties entering into or unwinding derivative transactions with respect to enCore's common shares and/or purchasing or selling the Company's common shares, and the potential impact of the foregoing on dilution to enCore's shareholders or the offset of any cash payments enCore is required to make in excess of the principal amount of converted Convertible Notes, the market price of enCore's common shares or the Convertible Notes or the initial conversion price of the Convertible Notes. These expectations may or may not be realized. Some of these expectations may be based on beliefs, assumptions or predictions that may prove to be incorrect. In addition, our business and operations involve numerous risks and uncertainties, many of which are beyond our control, which could result in our expectations not being realized or otherwise materially affect our business, financial condition, results of operations, cash flows and liquidity. Such risks and uncertainties include, but are not limited to, the risks related to whether enCore will consummate the offering of the Convertible Notes on the expected terms or at all, the anticipated terms of, and the effects of entering into, the capped call transactions, third parties entering into or unwinding derivative transactions with respect to enCore's common shares and/or purchasing or selling enCore's common shares, market and general conditions, and those described in greater detail in our filings with the Securities and Exchange Commission, particularly those described in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Should one or more of these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company assumes no obligation to update the information in this communication, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company with the respective securities commissions which are available online at and Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. View original content to download multimedia: SOURCE enCore Energy Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
enCore Energy Announces Expansion of the Alta Mesa Uranium Project
NASDAQ:EUTSXV: DALLAS, Aug. 18, 2025 /CNW/ – enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the 'Company' or 'enCore'), America's Clean Energy CompanyTM, today announced the acquisition of a 5,900 acre parcel of private land ('Tacubaya') located immediately adjacent to, and east of, enCore's Alta Mesa historic and producing wellfields and Central Processing Plant ('Alta Mesa Uranium Project'). Tacubaya is expected to provide additional feed and longevity for the Alta Mesa In-Situ Recovery ('ISR') Uranium Central Processing Plant ('CPP'). William M. Sheriff, Executive Chairman of enCore Energy, stated: 'On behalf of the Board, I extend our congratulations to our land department which worked for many months to assemble this strategic land acquisition that significantly expands the Alta Mesa Uranium Project. The compelling geology and location, immediately adjacent to, and on-trend with, our active and past wellfields make this a key acquisition for enCore. We will begin an aggressive exploration program, following up on mineralization discovered by Chevron in the late 1970's, which lies along projected trends extending from several of the wellfields at Alta Mesa.' Highlights for the Tacubaya acquisition include: Over 5,900 acres of private land consisting of mineral and surface leases with private parties located immediately adjacent to, and east of, enCore's Alta Mesa Uranium Project; Tacubaya is a part of the Alta Mesa Uranium Project joint venture ('JV') between enCore Energy (70%) and Boss Energy Ltd. (30%); Tacubaya's uranium mineralization occurs as roll fronts in multiple stacked sands within the Goliad Formation just as it does at the Alta Mesa Uranium Project; Historical drilling completed by Chevron Minerals during the late 1970's discovered multiple uranium roll fronts located at various depths within multiple sand units interpreted to be the lower C, middle C, B and A sands, all of which have been, or are currently productive, at the Alta Mesa Uranium Project; Additional exploration will be required to fully explore and delineate uranium mineralization on Tacubaya; Projected continuation of productive roll fronts from Alta Mesa Wellfields 1, 3, 4, 5B and the currently operating Wellfield 7; and Initial exploration to include a 200-hole drilling program beginning in two key areas utilizing several rigs. Two rigs will begin in October 2025, with an additional two drill rigs being added as the program progresses. To view the project map, please visit: About the Alta Mesa ISR Uranium CPP and Wellfield ('Alta Mesa Uranium Project') The Alta Mesa Uranium Project hosts a fully licensed and operational ISR Central Processing Plant and operational wellfield located on 200,000+ acres of private land and mineral rights in and regulated by the state of Texas. Total operating capacity at the Alta Mesa CPP is 1.5 million pounds uranium per year with additional drying capacity of 0.5 million pounds. The Alta Mesa Uranium Project operates under a 70/30 joint venture with Boss Energy Limited which is managed by the Company. The Alta Mesa Uranium Project utilizes well known ISR technology to extract uranium in a non-invasive process using natural groundwater and oxygen. Currently, oxygenated water is being circulated in the wellfield through injection or extraction wells plumbed directly into the primary pipelines feeding the Alta Mesa CPP. Expansion of the wellfield will continue, with extraction to steadily increase from the wellfield as expansion continues through 2025 and beyond. The Alta Mesa CPP historically produced nearly 5 million pounds of uranium between 2005 and 2013 when production was curtailed as a result of low prices. John M. Seeley, Ph.D., P.G., C.P.G., enCore's Chief Geologist, and a Qualified Person under Canadian National Instrument 43-101 and S-K 1300, has reviewed and approved the technical disclosure in this news release on behalf of the Company. About enCore Energy Corp. enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium company with multiple central processing plants in operation. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of In-Situ Recovery ('ISR') uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy. enCore operates the 100% owned and operated Rosita CPP in South Texas and the Alta Mesa CPP & Project under a 70/30 joint venture with Boss Energy Ltd. Following upon enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The Company holds other assets including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments. Cautionary Note Regarding Forward Looking Statements: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that are based on management's current expectations, assumptions, and beliefs. Forward-looking statements can often be identified by such words as 'expects', 'plans', 'believes', 'intends', 'continue', 'potential', 'remains', and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results 'may', 'could', or 'will' be taken. Forward-looking statements and information that are not statements of historical fact include, but are not limited to, any information relating to statements regarding future or potential extraction, and any other statements regarding future expectations, beliefs, goals or prospects, statements regarding the success of current and future ISR operations, including projects in our pipeline, our development plans, the anticipated timeline for starting exploration drilling related to Tacubaya, anticipated synergies of Tacubaya with the Alta Mesa Uranium Project, our future extraction plans and expectations and our commitment to working with local communities and indigenous governments to create positive impact from corporate developments should be considered forward looking statements. All such forward-looking statements are not guarantees of future results and forward-looking statements are subject to important risks and uncertainties, many of which are beyond the Company's ability to control or predict, that could cause actual results to differ materially from those expressed in any forward looking statement, including those described in greater detail in our filings with the SEC and on SEDAR+, particularly those described in our Annual Report on Form 10-K, annual information from and MD&A. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with assumptions regarding project economics; discount rates; expenditures and the current cost environment; timing and schedule of the projects, general economic conditions; adverse industry events; future legislative and regulatory developments; the ability of enCore to implement its business strategies; and other risks. A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including without limitation exploration and development risks, changes in commodity prices, access to skilled personnel, the results of exploration and development activities; extraction risks; uninsured risks; regulatory risks; defects in title; the availability of materials and equipment, timeliness of government approvals and unanticipated environmental impacts on operations; litigation risks; risks posed by the economic and political environments in which the Company operates and intends to operate; increased competition; assumptions regarding market trends and the expected demand and desires for the Company's products and proposed products; reliance on industry equipment manufacturers, suppliers and others; the failure to adequately protect intellectual property; the failure to adequately manage future growth; adverse market conditions, the failure to satisfy ongoing regulatory requirements and factors relating to forward looking statements listed above. Should one or more of these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The Company assumes no obligation to update the information in this communication, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company with the various securities commissions which are available online at and Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Malaysian Reserve
21-06-2025
- Business
- Malaysian Reserve
enCore Energy Announces Filing of Early Warning Report
NASDAQ:EUTSXV: DALLAS, June 20, 2025 /CNW/ – enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the 'Company' or 'enCore'), America's Clean Energy Company™, announces that it has disposed of 170,000,000 common shares in the capital of Anfield Energy Inc. ('Anfield') (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) in a private agreement at a price of $0.115 per share for aggregate proceeds of $19,550,000 (Canadian dollars). Immediately following the disposition, enCore holds or controls no common shares of Anfield. The disposition represents a 14.73% decrease in enCore's ownership or control over the outstanding common shares of Anfield on an undiluted basis. enCore does not currently hold or control any securities of Anfield. Since enCore's last early warning report dated January 15, 2024, enCore's holdings have decreased by an approximate 16.02% of the outstanding common shares of Anfield on an undiluted basis. enCore disposed of the shares of Anfield in a private transaction. enCore may, depending on market and other conditions, increase beneficial ownership of the Company's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities. The disclosure respecting enCore's shareholdings contained in this news release is made pursuant to National Instrument 62-103 and a report respecting the above disposition will be filed with the applicable securities commissions and will be available for viewing at A copy of the report may also be obtained by contacting Robert Willette, Acting Chief Executive Officer, or at info@ About enCore Energy Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium company with multiple central processing plants in operation. enCore operates the 100% owned and operated Rosita CPP in South Texas and the 70/30 joint venture Alta Mesa CPP with Boss Energy Ltd., with enCore operating as the project manager. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy. Following upon enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The Company holds other assets including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Yahoo
12-05-2025
- Business
- Yahoo
enCore Energy Reports Q1 2025 Financial Results Highlighted by Reduced Uranium Extraction Costs
NASDAQ:EUTSXV: DALLAS, May 12, 2025 /CNW/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), America's Clean Energy CompanyTM, today announced its financial and operational results for the three months ended March 31, 2025. Highlights for Three months ended March 31, 2025 Include: Total of 130,015 pounds of uranium ("U3O8") extracted and processed at a cost of $36.11 per pound; Delivery of 290,000 pounds of U3O8 into sales contracts at an average price of $62.89 per pound; Cost of pounds delivered from inventory of $62.97 per pound; In addition to sales of 290,000 pounds, 29,126 pounds of U3O8 were transferred to the account of Boss Energy Ltd, the 30% JV partner at the Alta Mesa Project; U3O8 inventory at quarter-end totaled 153,058 pounds at a cost of $40.39 per pound; $12.2 million cash repayment of uranium loan resulting in negative operating cash flow of $7.7 million; Cash and equivalents of $29.7 million and working capital of $35.7 million at end of quarter; Net loss per share of $0.13, compared to $0.04 per share in Q1 2024, primarily due to: Increased exploration and extraction activity in 2025 related to wellfield installations; and; The mark to market loss on the fair value of marketable securities held of over $9.0 million due to unfavorable market conditions. Total Costs of U3O8 Sold in Q1-2025 Pounds U3O8Cost in '000Cost/pound Total Cost of all Pounds 290,000$18,262$62.97 1Purchased 216,289$14,900$68.89Extracted total cost73,711$3,362$45.62 Extracted 2cash cost$2,304$31.26 3non-cash cost$1,058$14.36 1 lower of actual cost or market price as of end Q1-2025 2 cash costs of extracted pounds related to cost of goods sold are a metric for investors in evaluating the Company's operations 3 non-cash costs of extracted pounds related to cost of goods sold is an insight into additional expenses that impact overall costs and include depletion Inventory Remaining on Hand (end Q1-2025) Pounds U3O8Cost in '000Cost/poundTotal Cost of Inventory153,058$6,182$40.391Purchased28,711$1,717$59.80Extracted total cost124,347$4,465$35.91Extracted2cash cost$2,859$22.993non-cash cost$1,606$12.91 1 lower of actual cost or market price as of end Q1-2025 2 cash costs of extracted pounds related to cost of goods sold are a metric for investors in evaluating the Company's operations 3 non-cash costs of extracted pounds related to cost of goods sold is an insight into additional expenses that impact overall costs and include depletion The Company has filed its first quarter Form 10-Q with the U.S. Securities and Exchange Commission ("SEC") today, which includes the Company's consolidated financial statements, for the three months ended, March 31, 2025, and the related notes and financial results. Investor Information enCore's interim financial statements, including the accompanying Management's Discussion and Analysis, are available in the Company's Quarterly Report on Form 10-Q, to be filed with the SEC. The report can be accessed at and on enCore's investor relations page at Technical Disclosure and Qualified Person John M. Seeley, Ph.D., P.G., C.P.G., enCore's Manager of Geology and Exploration, and a Qualified Person under Canadian National Instrument 43-101 and S-K 1300, has reviewed and approved the technical disclosure in this news release on behalf of the Company. About enCore Energy Corp. enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium company with multiple central processing plants in operation. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of In-Situ Recovery ("ISR") uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy. enCore operates the 100% owned and operated Rosita CPP in South Texas and the 70/30 joint venture with Boss Energy Ltd. with enCore remaining the project manager. Following upon enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The Company holds other assets including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments. Cautionary Note Regarding Forward Looking Statements: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that are based on management's current expectations, assumptions, and beliefs. Forward-looking statements can often be identified by such words as "expects", "plans", "believes", "intends", "continue", "potential", "remains", and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", or "will" be taken. Forward-looking statements and information that are not statements of historical fact include, but are not limited to, any information relating to statements regarding future or potential extraction, and any other statements regarding future expectations, beliefs, goals or prospects, statements regarding the success of current and future ISR operations, including projects in our pipeline, our development plans, our future extraction plans and our commitment to working with local communities and indigenous governments to create positive impact from corporate developments should be considered forward looking statements. All such forward-looking statements are not guarantees of future results and forward-looking statements are subject to important risks and uncertainties, many of which are beyond the Company's ability to control or predict, that could cause actual results to differ materially from those expressed in any forward looking statement, including those described in greater detail in our filings with the SEC and on SEDAR+, particularly those described in our Annual Report on Form 10-K, annual information from and MD&A. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with assumptions regarding project economics; discount rates; expenditures and the current cost environment; timing and schedule of the projects, general economic conditions; adverse industry events; future legislative and regulatory developments; the ability of enCore to implement its business strategies; and other risks. A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including without limitation exploration and development risks, changes in commodity prices, access to skilled personnel, the results of exploration and development activities; extraction risks; uninsured risks; regulatory risks; defects in title; the availability of materials and equipment, timeliness of government approvals and unanticipated environmental impacts on operations; litigation risks; risks posed by the economic and political environments in which the Company operates and intends to operate; increased competition; assumptions regarding market trends and the expected demand and desires for the Company's products and proposed products; reliance on industry equipment manufacturers, suppliers and others; the failure to adequately protect intellectual property; the failure to adequately manage future growth; adverse market conditions, the failure to satisfy ongoing regulatory requirements and factors relating to forward looking statements listed above. Should one or more of these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The Company assumes no obligation to update the information in this communication, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company with the various securities commissions which are available online at and Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Non-GAAP Financial Measures This press release contains non-GAAP financial measures. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets or statements of cash flows of the Company. The non-GAAP financial measures used within this press release are total cost of extracted pounds, uranium cost per extracted pound, total cost of extracted inventory and uranium cost per extracted pound in inventory. Total cost of extracted pounds is the cost of sales less the cost of sales of purchased goods, which includes the aggregate purchase price of uranium sourced from purchased uranium. Uranium cost per extracted pound is the total cost of extracted pounds divided by the pounds of uranium extracted during the period. Total cost of extracted inventory is inventory less purchased uranium inventories. Uranium cost per pound of extracted inventory is the total cost of extracted inventory divided by pounds of extracted inventory. We consider the total cost of extracted pounds, uranium cost per extracted pound total cost of extracted inventory and uranium cost per pound of extracted inventory, including allocations of cash and non-cash costs, in evaluating the efficiency and cost-effectiveness of the Company's extraction operations and overall cost structure. The presentation of non-GAAP financial measures should not be considered in isolation or as a substitute for reported results under U.S. GAAP, and may not be comparable to similarly titled measures used by other companies. View original content to download multimedia: SOURCE enCore Energy Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-04-2025
- Business
- Yahoo
enCore Energy Continues Wellfield Expansion at the Alta Mesa Uranium Project; Announces Senior Vice President of Operations
NASDAQ:EUTSXV: DALLAS, April 22, 2025 /CNW/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company™, today provided continued positive results from on-going improvements to wellfield operations at the Alta Mesa Uranium Central Processing Plant ("CPP") and Wellfield (see EU NR dated April 7, 2025). The Company also announced the promotion of Mr. Dain McCoig to the position of Senior Vice President of Operations. The Alta Mesa CPP and Wellfield expansion highlights include: Wellfield development continues to show positive results with a total of 32 wells, 15 extractors and 17 injectors installed and operational with uranium-bearing solution scheduled to be piped to the Alta Mesa CPP by April 23, 2025. This current rate of under two days per installed well is the best in the Company's history at the the Alta Mesa Project; Installation of PathCAD™ wellfield simulation and design software providing enCore the ability to model wellfield flow for current and future wellfields. PathCAD™ software is proven to provide for improved wellfield management, efficient wellfield planning, operations and optimization of uranium extraction; Wellfield 8 ("PAA-8"), planned for uranium extraction following the currently operational Wellfield 7 is now renamed Wellfield 3-Ext ("PAA-3 Extension"). The original plan to develop Wellfield 8 is altered due to new delineation drilling which indicates the uranium mineralization occurs within the same ore horizon and partially within the boundary of the existing monitor well ring of the past-producing Wellfield 3 ("PAA-3"). Modelling Wellfield 3-Ext as an extension of Wellfield 3 is expected to reduce permitting timelines and wellfield installation costs while extending the existing monitor well ring. This approach also provides the ability to capture uranium stranded within the previously operated Wellfield 3; Alta Mesa wellfield optimization training and updated procedures are on-going. The enhanced procedures are positively impacting the productive life of existing wellfields and is expected to enhance future wellfield operations and total uranium capture. William M. Sheriff, Executive Chairman, stated: "Since joining enCore in June 2023 as the Director of Technical Services, Dain has played a critical role in the successful restart of both the Rosita and Alta Mesa Central Processing Plants. On behalf of the Board of Directors, I want to congratulate him on a promotion that truly reflects his leadership, technical expertise and industry knowledge. In conjunction with Directors Dr. Dennis Stover and Mark Pelizza, Mr. McCoig and the site management have accelerated wellfield installation and made alterations to wellfield design to maximize uranium extraction while reducing expected wellfield development costs." About the Alta Mesa Uranium CPP and Wellfield ("Alta Mesa Uranium Project")The Alta Mesa Uranium Project hosts a fully licensed and constructed ISR Central Processing Plant and operational wellfield located on 200,000+ acres of private land and mineral rights in and regulated by the state of Texas. Total operating capacity at the Alta Mesa CPP is 1.5 million lbs. uranium per year with additional drying capacity of 0.5 million lbs. The Alta Mesa Project operates under a 70/30 joint venture with Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) that is managed by the Company. The Alta Mesa CPP historically produced nearly 5 million lbs. of uranium between 2005 and 2013 when production was curtailed as a result of low prices. The Alta Mesa Project utilizes well known ISR technology to extract uranium in a non-invasive process using natural groundwater and oxygen. Currently, oxygenated water is being circulated in the wellfield through injection or extraction wells plumbed directly into the primary pipelines feeding the Alta Mesa CPP. Expansion of the wellfield will continue with production to steadily increase from the wellfield as expansion continues through 2025 and beyond. Dain McCoig Senior Vice President, Operations Mr. McCoig is a seasoned engineering and operations leader with 20 years of experience in mineral extraction, mineral processing, and facility development. As Director of Operations at enCore, he supported uranium recovery operations across engineering, geology, and regulatory functions driving performance, cost-efficiency, and technical excellence. Previously, Mr. McCoig served as Vice President of Operations at Alabama Graphite Products, where he led the engineering, construction, and team development for a $200M battery-grade graphite facility. Prior to this, he held several leadership roles at Uranium Resources Inc. ("URI") where he oversaw operations at URI's Rosita, Kingsville Dome and Vasquez Projects. Mr. McCoig managed early-stage planning, uranium production and site restoration, while coordinating and working with regulators, landowners, and stakeholders. A licensed Professional Engineer in Texas and Alabama, Dain holds a B.S. in Engineering from the Colorado School of Mines and is pursuing his MBA at Auburn University. He is actively involved in industry groups including SME and various mining associations. John M. Seeley, Ph.D., P.G., C.P.G., enCore's Manager of Geology and Exploration, and a Qualified Person under NI 43-101 and Regulation S-K subpart 1300 of the Exchange Act of 1933 as amended, has reviewed and approved the technical disclosure in this news release on behalf of the Company. With this transition, Peter Luthiger is no longer with the Company; we thank him for his contributions to enCore and wish him success in his future endeavors. About enCore Energy Corp. enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium company with multiple Central Processing Plants in operation. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of In-Situ Recovery ("ISR") uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy. Following upon enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The Company holds other assets including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments. Cautionary Note Regarding Forward Looking Statements: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that are based on management's current expectations, assumptions and beliefs. Forward-looking statements can often be identified by such words as "will", "expects", "plans", "believes", "intends", "estimates", "projects", "continue", "potential", and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", or "will" be taken. Forward-looking statements and information that are not statements of historical fact include, but are not limited to, any statements regarding future expectations, beliefs, goals or prospects , the anticipated schedule of wellfield development and uranium-bearing solution piping and expectations for reduced permitting timelines at the renamed PAA-3 Extension All such forward-looking statements are not guarantees of future results and forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company's ability to control or predict, that could cause actual results to differ materially from those expressed in any forward-looking statement. A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including, exploration and development risks, changes in commodity prices, access to skilled personnel, the results of exploration and development activities; extraction risks; uninsured risks; regulatory risks; defects in title; the availability of materials and equipment, timeliness of government approvals and unanticipated environmental impacts on operations; litigation risks; risks posed by the economic and political environments in which the Company operates and intends to operate; increased competition; assumptions regarding market trends and the expected demand and desires for the Company's products and proposed products; reliance on industry equipment manufacturers, suppliers and others; the failure to adequately protect intellectual property; the failure to adequately manage future growth; adverse market conditions, the failure to satisfy ongoing regulatory requirements and factors relating to forward looking statements listed above which include risks as disclosed in the Company's filings on SEDAR+ and with the SEC, including its Annual Report on Form 10-K, management discussion and analysis and annual information form. Should one or more of these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company assumes no obligation to update the information in this communication, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company with the respective securities commissions which are available online at and Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. View original content to download multimedia: SOURCE enCore Energy Corp. View original content to download multimedia: Sign in to access your portfolio
