The production decision is based on known past In-Situ Recovery (ISR) and processing operations at these two production facilities and surrounding lands. The Company advises that it is not basing its production decisions at Alta Mesa or Rosita on a feasibility study of mineral reserves demonstrating economic and technical viability. For additional information regarding the Subscription Receipt Offering, please see the Company's news releases dated Decemand February 15, 2023. ![]() ( C$12,600) in connection with the non-brokered portion of the Subscription Receipt Offering. The Company also paid an aggregate of C$24,600 in cash commissions to Haywood Securities Inc. 50% of the cash commission was paid on closing of the Subscription Receipt Offering, and the balance of the cash commission (with interest earned thereon) has been released from escrow to the underwriters. ( C$324,000), and Red Cloud Securities Inc. ( C$810,000), Cantor Fitzgerald Canada Corporation ( C$364,500), PI Financial Corp. Īdditionally, further to the Company's news release dated Februannouncing the conversion of 23,277,000 subscription receipts issued on Decemat a price of C$3.00 per subscription receipt (the " Subscription Receipt Offering"), the Company advises that it paid an aggregate of C$4,050,000 in cash commissions to Canaccord Genuity Corp. Wellfield recovery factors have not been applied to indicated and inferred mineral resources.Ģ As reported in the NI-43-101 Technical Report Summary for the Alta Mesa Uranium Project, Brooks and Jim Hogg Counties, Texas, USA completed by Doug Beahm, PE, PG, of BRS Engineering. Our 2023 startup of production at Rosita and now, the decision to proceed at Alta Mesa, will bring a reliable domestic low carbon energy source to South Texas and the United States when it is most needed."ġ Represents that portion of the in-place mineral resource that are estimated to be recoverable within existing wellfields. The enCore team began initial assessment work in November 2022, preparing for the start of work immediately following the closing of the acquisition of the Alta Mesa Processing Plant and Project. I am confident that we have everything necessary within our control for a production restart, and enCore can quickly advance the project. Paul Goranson, the Company's Chief Executive Officer said, "My previous experience includes building and successfully operating Alta Mesa. ![]() To view the Alta Mesa project maps and enCore Energy's South Texas projects please visit. The Alta Mesa Processing Plant utilizes well-known ISR technology to extract uranium in a non-invasive process through the use of natural groundwater and oxygen, coupled with a proven ion exchange process, to recover the uranium.Alta Mesa's operations are located on private land, with 100% of minerals privately owned, and in a supportive jurisdiction with primary regulatory authority residing with the State of Texas.Advancing the Alta Mesa Processing Plant, in conjunction with planned production in 2023 at the Rosita Uranium Processing Plant, will cement enCore Energy's position as the early leader in In-Situ Recovery (ISR) uranium production in the US. ![]() The Alta Mesa Processing Plant can reach commercial production levels with limited required capital, from funds on hand, within an estimated 10 months of today's announced production decision.There are only 11 licensed and constructed uranium production facilities in all of the United States (US) The Alta Mesa Processing Plant is enCore's third fully licensed production facility, along with Rosita and Kingsville Dome, all located in the business-friendly state of Texas.Concurrently, enCore's technical staff are identifying equipment maintenance and limited repair needs at the Alta Mesa Processing Plant involving the ion exchange system, uranium precipitation, drying and packaging circuits in order to restart production after having been on standby since 2013.Īlta Mesa Processing Plant and Project highlights include: Development drilling, production and injection well installation will start this month. Work underway at the Alta Mesa Processing Plant includes the construction of equipment staging areas and drill pads in the fully permitted Production Authorization Area (PAA), planned for initial production due to its proximal location adjacent to the Plant.
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