enCore Energy Reports Record Uranium Extraction at Alta Mesa Plant and New Leadership Appointments

enCore Energy Achieves Record Extraction at Alta Mesa ISR Facility

On April 7, 2025, enCore Energy (NASDAQ: EU) announced an impressive milestone at its Alta Mesa In-Situ Recovery (ISR) Uranium Central Processing Plant (CPP). This month marks their most fruitful operation since the plant's initial phase commenced in June 2024. Thanks to a series of operational advancements and enhanced efficiency measures, enCore successfully extracted 50,000 pounds of uranium (U3O8) over 26 days in March 2025.

With a healthy financial position featuring around $40 million in unencumbered cash and assets, enCore continues to strive for efficiency at Alta Mesa CPP and align its wellfield development program with projected 2025 contracts. The company's strategic actions indicate a strong commitment to operational growth and sustainability within the uranium sector.

Leadership Appointments

In conjunction with these operational successes, enCore has also made pivotal leadership changes. Rob Willette, previously the Chief Legal Officer, has been appointed as Acting Chief Executive Officer (A/CEO) and will also join the Board of Directors. Daniel Calderon, formerly the Manager of South Texas Operations, has been promoted to the Director of Texas Operations. These appointments are seen as vital in maintaining continuity and enhancing management's expertise in the regulatory landscape.

William M. Sheriff, Executive Chairman of enCore, emphasized the significance of teamwork in achieving these results, crediting the dedicated on-site professionals. He noted Calderon’s key leadership role in managing operations at both the Rosita and Alta Mesa facilities, alongside the invaluable contributions from fellow directors, Dr. Dennis Stover and Mark Pelizza, who bring a depth of experience in ISR operations.

Operational Efficiency and Future Prospects

The recent performance at Alta Mesa CPP not only underscores enCore's operational improvements but also demonstrates effective resource management. The plant’s average daily extraction rate surpassing 1,900 pounds over a significant period is commendable, especially considering operations faced downtime due to inclement weather. Additionally, enCore has successfully delivered 290,000 pounds of uranium to utility companies in 2025, with expectations to fulfill an impressive 365,000 pounds more by year-end, indicating strong future contractual commitments.

To further support its extraction capabilities, enCore has ramped up its drilling operations. Currently, 21 drill rigs are active, with plans to increase this number significantly to enhance wellfield development. The company is targeting to operate at least 30 drill rigs for optimal extraction and advancements at the Alta Mesa Project, a significant step towards meeting and exceeding production requirements.

Looking ahead, the company is also preparing to resume operations at Wellfield 6 (PAA-6) by Q4 2025 following refurbishment processes. The commitment to expand extraction and maintain environmental responsibility places enCore Energy at the forefront of sustainable uranium mining operations.

Conclusion

As enCore Energy forges ahead with its promising operations at the Alta Mesa facility, it remains focused on its vision of clean energy. Their strategic enhancements and leadership appointments are indicative of a robust framework aimed at achieving operational excellence and meeting the growing demands of the nuclear energy sector. With substantial projects in the pipeline, including the Dewey-Burdock project in South Dakota, enCore is poised to make significant impacts in the uranium extraction industry.

For more information on enCore Energy and its ongoing projects, visit www.encoreuranium.com.