Tag: enCore Energy Corp.

Past-producing Kingsville Dome and Rosita uranium ISR plants in Texas purchased from Westwater Resources (NYSEAM:WWR, Not Rated) were recently visited. They are the basis for near-term production potential, as EnCore Energy (EU) develops its longer-term projects elsewhere. Other development projects including PEA-stage Dewey Burdock SD and Gas Hills WY were also discussed (importantly, Dewey Burdock State permitting may potentially resume by March 2022). Our main concern was in regard to the company’s ability to fill the South Texas ISR plants by expanding its local resource base, seemingly the weakest of its various jurisdictions. As we visited its Rosita Extension properties (specifically Cadena) and reviewed Upper Creek (host to Brown and Brevard roll front uranium deposits), our concerns were alleviated. We note that this visit had a completely different aura than past trips (we have previously visited each of these plants). EU brings a fresh perspective, and its actions are about plant refurbishment, potential, resource growth and near-term production growth. While past owners were simply wasting assets, the team now has drill hole databases (Mobil, Chevron) providing thousands of drill holes that past explorers simply did not have. Overall, EU is about execution, and we believe this strong team now has the right leadership and right tools in place to succeed. We believe enCore has one of the best management and technical teams in the USA, from top to bottom. Bill Sherriff, Chairman, has executed with EMC and its timely sale to U1; the Board of Directors has legends such as ISR pioneer Dennis Stover; and Paul Goranson, CEO, has a track record of producing uranium when working for Mesteña, Cameco (TSX:CCO, Not Rated), Uranerz, and Energy Fuels (TSX:EFR, BUY, C$11.85 target, David A. Talbot).