NASDAQ:EU
TSXV:EU
www.encoreuranium.com
DALLAS, March 5, 2024 /PRNewswire/ – enCore Energy Corp. (NASDAQ:EU) (TSXV:EU) (the “Company” or “enCore”), America’s Clean Energy Company™ and America’s newest uranium producer, today announced the first shipment of uranium from the Rosita Central Processing Plant (“Rosita Plant”) to be followed by the first sales delivery. The first shipment of uranium, and delivery into the sales contract comes after the commencement of production in November 2023 and the Grand Opening of the Rosita Plant in February 2024. enCore is also pleased to announce its fifth long-term supply contract.
enCore has executed its initial shipment of uranium from the Rosita Plant with an expected delivery to the conversion facility the week of March 11th. This is followed by delivery of uranium to the utility customer under our sales contracts;
enCore has executed the fifth commercial uranium sales contract, with a fourth U.S. utility with deliveries from 2026 through 2032. The terms of the contract reflect the spot price at the time of delivery subject to pricing collars that ensure enCore’s revenue stream and allow for potential upside. With this latest contract, enCore’s existing commitment has increased to 4.25 million lbs. through 2032, which is well under 50% of enCore’s planned production. This contracting will assure continuous revenue to support enCore’s longer range growth plans along with steady production increases as a key component of enCore’s production strategy;
enCore hosted the Grand Opening of the Rosita Plant in February 2024, just 20 months after work commenced to restart production. For more information please visit: Rosita Plant Grand Opening (youtube.com)
“We are so very happy to have had the longest serving Governor in Texas’ history, and former United States Secretary of Energy, Rick Perry, deliver the keynote address at our Grand Opening of the Rosita Plant in February 2024,” said Executive Chairman William M. Sheriff. “Approximately 300 attendees including our senior management, staff, family, landowners as well as federal, state, and local elected officials, community members and investors attended the Grand Opening. Governor Perry’s remarks highlighted the urgent need for domestic uranium production to provide baseload power in the United States. The realization of nuclear power as the keystone to America’s green electrical generation capacity was a central theme as the large crowd celebrated the newest domestic source of uranium to fuel clean energy for Texas and the United States.”
Paul Goranson, Chief Executive Office added: “It was a great honor to share the Grand Opening with all our staff and family along with our guests, providing everyone with the opportunity to see a uranium processing plant …