Operating (as of Q2/2024) • Steady-state production
Overview
Country
USA
Region
South Texas
Current status
Operating (as of Q2/2024)
5 projects in this company presentation
Report date 2026-04-01
enCore Energy Corp. Common Shares • EU.US • 5 projects
Permit status
Fully licensed
Ownership
70.0%
Mine type
ISR (In-Situ Recovery)
Classification
Project stage
Producer
Substage
Steady-state production
Active milestone
Operating
Completed milestones
Permits & Agreements
Resources
Measured + indicated
2.6 Mlb
M&I grade
1,450.0 ppm
Inferred
5.2 Mlb
Inferred grade
1,120.0 ppm
Total resources
7.8 Mlb
Financials
Production rate
1.0
Strategics
Production
2024-04-01
Notes
Highlights
Operates under a 70/30 JV with Boss Energy Limited (enCore as managing partner). Plant constructed for 1.5M lbs U3O8/yr plus 0.5M lbs from satellite IX plants (total 2M lbs design capacity), currently configured for 1M lbs/yr. Located on ~200,000 acres of private land. Ongoing expansion and exploration (Alta Mesa East).
Country attractiveness
Well established and mature regulatory environment in a well-known energy producing State.
Resource context
Resources estimated using minimum grade-thickness cutoff of 0.30 ft% U3O8; resources do not include reserves.
Permit context
Fully licensed CPP and wellfields; ongoing permitting for new wellfields.
Technical context
ISR extraction; proprietary Prompt Fission Neutron (PFN) technology collaboration with Boss Energy.
Recent achievements
270 new production wells turned on in 2025; Wellfield 7 producing; Wellfield 3 Extension near completion.
Work ongoing
Drilling, permitting, and wellfield development ongoing.
Next steps
Bringing Wellfield 3 Extension online (pending permit), ongoing drilling and expansion (Wellfield 8, Alta Mesa East).
Resource extension potential
Yes, further exploration at Alta Mesa East and underlying/overlying sandstones.
Dewey Burdock
Developing ProjectUSA
Permitting/Engineering (state permitting expected end of 2027) • PFS
Overview
Country
USA
Region
South Dakota
Current status
Permitting/Engineering (state permitting expected end of 2027)
Permit status
NRC license (timely renewal), EPA and Aquifer Exemption approved/held in abeyance, state permitting ongoing
Mine type
ISR (In-Situ Recovery)
Classification
Project stage
Developer
Substage
PFS
Active milestone
Permits & Agreements
Completed milestones
PEA
Resources
Measured + indicated
17.1 Mlb
M&I grade
1,200.0 ppm
Inferred
0.7 Mlb
Inferred grade
600.0 ppm
Total resources
17.8 Mlb
Financials
Production rate
0.8
Total production
14.1 Mlb
Life of mine
28.0 years
Uranium price used
$86.34/lb
Post-tax NPV8
$134M
Post-tax IRR
33.0%
Capex
$264M
Cash costs
$23.81/lb
Strategics
PEA
2025-01-01
Notes
Highlights
Located in Edgemont uranium district, SW South Dakota; 16,960 acres mineral rights; 28-year mine life (incl. 2-year ramp-up); annual production 750 Klbs/yr; LOM production 14.1 Mlbs.
Country attractiveness
Approved for U.S. Government Fast Track Permitting (August 2025).
Resource context
Resources estimated using minimum grade-thickness cutoff of 0.20 ft% U3O8; resources do not include reserves.
Permit context
NRC license in timely renewal; EPA and Aquifer Exemption approved/held in abeyance; state permitting ongoing.
Technical context
ISR extraction planned.
Financial context
Initial capital costs US$264.2M; Pre-tax NPV8% US$180.1M, Post-tax NPV8% US$133.6M.
Economic sensitivity
Pre-tax IRR of 39% at $86.34/lb uranium price (post-tax IRR 33%).
Recent achievements
Approved for FAST-41 permitting; PEA completed.
Gas Hills
Developing ProjectUSA
Development (proposed pipeline project, production planned for 2028) • PEA
Overview
Country
USA
Region
Wyoming
Current status
Development (proposed pipeline project, production planned for 2028)
Ownership
100.0%
Mine type
ISR (In-Situ Recovery)
Classification
Project stage
Developer
Substage
PEA
Active milestone
PEA
Resources
Measured + indicated
7.7 Mlb
M&I grade
1,000.0 ppm
Inferred
0.4 Mlb
Inferred grade
500.0 ppm
Total resources
8.1 Mlb
Endowment
Field recovery rate
80.0%
Financials
Production rate
0.9
Total production
6.1 Mlb
Life of mine
11.0 years
Uranium price used
$87.00/lb
Recovery rate
80.0%
Post-tax NPV8
$142M
Post-tax IRR
50.2%
Capex
$55.2M
Cash costs
$15.51/lb
Strategics
PEA
2025-02-01
Notes
Highlights
100% company-owned; located in Fremont and Natrona Counties; 11-year mine life; annual production 880 Klbs/yr; LOM production 6.1 Mlbs.
Country attractiveness
Wyoming is an Agreement State with positive permitting timelines; long history of successful ISR operations.
Resource context
Resources as of Dec 31, 2024, ISR only, GT cutoff 0.10; all resources below static water table; 80% recovery factor used for economic analysis.
Technical context
ISR extraction planned.
Financial context
Initial capital costs US$55.2M; Pre-tax NPV8% US$166.9M, Post-tax NPV8% US$141.8M.
Economic sensitivity
Pre-tax IRR of 54.8% at $87/lb uranium price (post-tax IRR 50.2%).
Recent achievements
PEA completed.
Work ongoing
Permitting and engineering.
Mesteña Grande
Exploring ProjectUSA
Exploration • Post-Discovery
Overview
Country
USA
Region
South Texas
Current status
Exploration
Mine type
ISR (planned)
Classification
Project stage
Explorer
Substage
Post-Discovery
Active milestone
Exploration
Resources
Measured + indicated
0.0 Mlb
Inferred
13.9 Mlb
Inferred grade
1,190.0 ppm
Total resources
13.9 Mlb
Strategics
PEA
2025-02-01
Notes
Highlights
Exploration project designed to support future uranium supply for Alta Mesa CPP. Covers ~200,000 acres; 52 linear miles of REDOX-front identified, only 5 miles explored to date.
Resource context
Resources estimated using minimum grade-thickness cutoff of 0.30 ft% U3O8; resources do not include reserves.
Technical context
ISR extraction planned.
Work ongoing
Exploration drilling and resource delineation.
Next steps
Further exploration and drilling to delineate resources.
Resource extension potential
Yes, significant unexplored REDOX-front and multiple formations (Oakville and Goliad).
Rosita
Producing ProjectUSA
Commissioning/Pre-production (awaiting final permitting for first wellfield) • Commissioning
Overview
Country
USA
Region
South Texas
Current status
Commissioning/Pre-production (awaiting final permitting for first wellfield)
Permit status
Licensed CPP; RML amended for Upper Spring Creek; awaiting final wellfield permit
Mine type
ISR (In-Situ Recovery) with Satellite IX Plants
Classification
Project stage
Producer
Substage
Commissioning
Active milestone
Commissioning
Completed milestones
Permits & Agreements
Resources
Measured + indicated
3.5 Mlb
Inferred
0.3 Mlb
Inferred grade
1,360.0 ppm
Total resources
3.8 Mlb
Endowment
Field recovery rate
80.0%
Financials
Production rate
0.8
Recovery rate
80.0%
Notes
Highlights
800,000 lbs U3O8 annual capacity; equipped for satellite IX plants; modular and relocatable IX plants; RML amended for Upper Spring Creek; first two IX trains completed, doubling capacity underway.
Resource context
Resources as defined in S-K 1300; all resources below static water table; 80% recovery factor used for economic analysis.
Permit context
RML amended for Upper Spring Creek; final wellfield permit pending.
Technical context
ISR extraction with satellite IX plants; modular and relocatable.
Recent achievements
First two IX trains completed; wellfield nearly completed.
Work ongoing
Installation of IX trains and wellfield development.
Next steps
Complete permitting and commence production from first wellfield; install remaining IX trains.
Resource extension potential
Yes, multiple satellite IX plant areas and future projects.
Work ongoing
Permitting, engineering, and design plans.
Next steps
Complete state permitting (expected end 2027), commence plant engineering (2026-2027).
Next steps
Advance permitting and engineering for production pipeline (planned for 2028).