Latest news with #AltaMesaProject
Cision Canada
7 days ago
- Business
- Cision Canada
enCore Energy Announces High Uranium Extraction Rates in South Texas; Commends Texas for Energizing its Nuclear Energy Strategy with Passage of Three Key Bills
DALLAS, June 26, 2025 /CNW/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the " Company" or " enCore"), America's Clean Energy Company™, announced today record uranium extraction rates from the Alta Mesa In-Situ Recovery ("ISR") Uranium Central Processing Plant ("CPP") since commencing operations in June 2024. Recent management changes and operational efficiencies have worked to expand uranium extraction and decrease costs. The Company also commends the State of Texas for the passage of legislation this session which provides a framework to promote nuclear energy in Texas, including streamlining the already efficient uranium recovery permitting process. Alta Mesa Project operational highlights include: Uranium capture of the most recent seven days, ending June 23, in excess of 3,000 pounds per day, peaking at 3,705 pounds on June 20, 2025; Uranium capture for the first 22 days of June 2025 average 2,410 pounds of uranium per day for a total of 53,022 pounds; Uranium capture for the month of May 2025 was an average of 2,103 pounds per day; April 2025 uranium capture was an average of 1,942 pounds per day. Wellfield development at the Alta Mesa Project's Wellfield 7 continues to expand with the addition of 28 wells: 13 extraction wells and 15 injection wells. This is part of the ongoing ramp up strategy to advance wellfield expansion every 4 to 5 weeks. Wellfield development continues at a consistently accelerated rate with a total of 24 drill rigs in operation across the South Texas operations: 14 drill rigs dedicated to wellfield installation and advancement of the Alta Mesa Project Wellfield 7; 5 drill rigs dedicated to the Alta Mesa Project Wellfield 3-Ext, focused on installing monitor and baseline wells; 1 drill rig dedicated to the Alta Mesa Project Wellfield 6 re-development; and 4 drill rigs dedicated to wellfield development at the Upper Spring Creek Project, which is slated to provide satellite feed for the Rosita CPP in 2026. William M. Sheriff, Executive Chairman of enCore Energy, stated: "The continued improvements in our rate of uranium extraction and advancement of wellfield development are truly a result of a top performing team focused on extraction and streamlined operations. We have always recognized the depth of experience and strength of our team, and their expertise is being clearly demonstrated during this ongoing ramp up phase. I also want to take this opportunity to commend the Texas Legislature for the passage of bills, and Governor Abbott for signing the legislation, which streamlined the permitting process for production area development and waste disposal wells." 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 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 (ASX: BOE; OTCQX: BQSSF) that is managed by the Company. 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. 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. About the Rosita ISR Uranium Central Processing Plant ("Rosita CPP") The Rosita CPP can receive uranium-loaded resin from remote project areas across the South Texas region through a network of Satellite IX Plants. These Satellite IX Plants, located near wellfields, are a key component of the ISR uranium extraction process. A lixiviant, consisting of groundwater mixed with oxygen and sodium bicarbonate, is injected into the wellfield using ISR technology, where it dissolves uranium from the underground sandstone. The uranium-bearing solution is then pumped to the surface and directed through the IX columns at the nearby Satellite IX Plant, where uranium is absorbed onto resin beads. The uranium-loaded resin is then transported to the Rosita CPP, where the uranium is removed from the resin and processed into yellowcake. Once processed, the resin is recycled and trucked back to the Satellite IX Plants for reuse. These modular, efficient, and relocatable IX Plants allow for cost-effective operation across multiple sites without the need to construct full processing facilities at each location, and they can be relocated once a wellfield is depleted. About the Upper Spring Creek ISR Uranium Project The 100% Company-owned Upper Spring Creek ISR Project (the "Project") is a planned Satellite IX Plant operation for the Rosita CPP. The Project consists of several future potential production units within the historic Clay West uranium district. Upper Spring Creek was previously held by Signal Equities LLC, who previously licensed and permitted the property as an ISR uranium project, maintaining the aquifer exemption and ceased work following continued low uranium spot prices. In December 2020, the Company acquired the Project. The uranium mineralized sands that are associated with the project area lie within the Oakville Formation. These historic uranium producing sands stretch across an area of approximately 120 miles long by approximately 20 miles wide in South Texas. The uranium mineralized ore body at the Upper Spring Creek Project occurs at depths typically between 300 and 450 feet from surface. John M. Seeley, Ph.D., P.G., C.P.G., enCore's Chief Geologist, 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. 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. 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 , ongoing ramp up strategy to advance wellfield expansion every 4-5 weeks, the continued expansions of the Alta Mesa wellfield and extraction will steadily increase and anticipated schedule for the Upper Spring Creek Project providing satellite operations for the Rosita CPP. 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 Securities Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, 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
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
Cision Canada
12-05-2025
- Business
- Cision Canada
enCore Energy Reports Q1 2025 Financial Results Highlighted by Reduced Uranium Extraction Costs
DALLAS, May 12, 2025 /CNW/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company TM, 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 ("U 3 O 8") extracted and processed at a cost of $36.11 per pound; Delivery of 290,000 pounds of U 3 O 8 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 U 3 O 8 were transferred to the account of Boss Energy Ltd, the 30% JV partner at the Alta Mesa Project; U 3 O 8 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. 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 U 3 O 8 Cost in '000 Cost/pound Total Cost of Inventory 153,058 $6,182 $40.39 1 Purchased 28,711 $1,717 $59.80 Extracted total cost 124,347 $4,465 $35.91 Extracted 2 cash cost $2,859 $22.99 3 non-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.
Yahoo
03-04-2025
- Business
- Yahoo
enCore Energy Education Society and Texas A&M University-Kingsville Establish the Dr. Dennis Stover Fellowship; Investing in the Next Generation
NASDAQ:EUTSXV: DALLAS, April 3, 2025 /CNW/ - enCore Energy (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), is proud to announce the establishment of the Dr. Dennis Stover Fellowship at Texas A&M University-Kingsville (TAMUK) through the enCore Energy Education Society. This new fellowship honors Dennis Stover, PhD, a Director of enCore Energy and a pioneering developer of In-Situ Recovery (ISR) uranium extraction technology, a process that remains essential to the nuclear industry today. In recognition of his contributions, the enCore Energy Education Society has partnered with TAMUK's Frank H. Dotterweich College of Engineering and the Wayne H. King Department of Chemical and Natural Gas Engineering to provide financial support for outstanding graduate students pursuing a master's degree in chemical engineering. Dr. Dennis Stover's continuing five-decade career in uranium extraction and nuclear energy has helped shape the industry, advancing safe and sustainable fuel solutions. His professional journey in nuclear engineering began in South Texas, home to the first commercial ISR operation in the United States at the Clay West uranium project in 1975. His work continues to this day as he leads the advancement and improved efficiencies of wellfield development and plant operations at enCore's Alta Mesa Project. While his work has spanned multiple states and countries, South Texas has remained the foundation of his hands-on experience and lasting professional relationships. Dr. Stover has long recognized Texas A&M University–Kingsville as a leading educational force in the uranium industry—not only in South Texas, but across the nation. Its engineering and geologic graduates have made significant contributions to the success of ISR uranium projects, and their impact continues to shape the future of clean energy. Dr. Dennis Stover, Director of enCore Energy, stated: "I am honored that enCore Energy and the enCore Energy Education Society have chosen to support students at Texas A&M University-Kingsville, where so many talented engineers have begun their journeys. Education is the foundation of innovation, and I hope this fellowship will inspire and empower future generations of engineers to advance nuclear technology, just as I was once inspired. Investing in young minds is investing in the future of clean energy, and I am grateful to play a role in that legacy." Dr. James Palmer, Provost and Senior Vice President for Academic Affairs at TAMUK, stated: "Recruiting and retaining outstanding graduate students is essential to the continued growth and success of our Chemical Engineering program. The generosity of Dr. Dennis Stover's friends and family in establishing this endowment will provide exceptional opportunities for our master's students, empowering them to excel in their studies and research. This gift not only honors Dr. Stover's continuing legacy but also reinforces the strength and future of the chemical engineering program for generations to come." The Dr. Dennis Stover Fellowship is a merit-based fellowship designed to support students demonstrating academic excellence, leadership potential, and a commitment to advancing engineering and nuclear technologies. The Dr. Dennis Stover Fellowship is originally funded by an initial $120,000 endowment from the enCore Energy Education Society, which has received financial support from enCore Energy Corp, Boss Energy Ltd and supporting companies and colleagues. About the enCore Energy Education SocietyThe enCore Education Society is a Texas corporation with a 501(3)(c) application pending with the IRS. The Society is focused on providing financial resources for high school, college and university students pursuing an education in trades and professions necessary for the In-Situ Recovery ("ISR") uranium extraction process providing the fuel for nuclear energy. The enCore Energy Education Society and the TAMUK Foundation welcome contributions to support the Dr. Dennis Stover Fellowship. To make a donation directly to the fellowship, visit and designate your gift to the Dr. Dennis Stover Fellowship or contact the enCore Energy Education Society, contact 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. 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. The securities referenced herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. 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 accelerated wellfield development and uranium extraction plans, the ability to complete and expected timing of completion of permitting, the ability and timing of recruiting a new qualified chief executive officer 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 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; 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. View original content to download multimedia: SOURCE enCore Energy Corp. View original content to download multimedia:
