First Shipment And Delivery Of Uranium From Rosita Central Processing Plant

First Shipment And Delivery Of Uranium From Rosita Central Processing Plant

DALLAS, TX – enCore Energy Corp. announced the first shipment of uranium from the Rosita Central Processing 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.

Significant Highlights Include: 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 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.