EnCore Energy (TSXV: EU; NASDAQ: EU) began production at its Rosita plant in South Texas late last year, supported by a strong uranium price and rising interest in nuclear power. It aims to reach full capacity of just under a million pounds uranium per year by mid-2025, and triple production in three years’ time.
The company is exploring expansion opportunities. It has a joint venture on the advanced Alta Mesa project, with enCore holding 70% and remaining the project manager and Boss Energy holding a 30% interest in exchange for a payment of US$60 million. “We built this company on mergers and acquisitions. We haven’t abandoned that strategy yet,” CEO Paul Goranson said during the Energy Transition Metals Summit last month in Washington, D.C.
Goranson says he’s optimistic about demand despite volatility in uranium spot prices. “I see solid demand and future growth. Every week, another nuclear power plant gets a life extension, or a new one is being constructed. It’s exciting times,” he said.
Watch the full conversation with The Northern Miner’s western editor, Henry Lazenby, below.
Joint venture videos are paid-for content in arrangement with The Northern Miner.
* This article has been updated to change the NYSE ticker to NASDAQ; a prior version erroneously stated EnCore had started production at the Alta Mesa project when, in fact, production had not yet started there but at the Rozita project in November last year. TNM regrets the error.
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