enCore Energy Reports Q1 2025 Financial Results Highlighted by Reduced Uranium Extraction Costs

Core Insights - enCore Energy Corp. reported its financial and operational results for Q1 2025, highlighting significant activities in uranium extraction and sales [1][8] Financial Performance - Total costs of U3O8 sold in Q1 2025 amounted to $18,262,000 for 290,000 pounds, resulting in a cost per pound of $62.97 [4] - The company extracted and processed 130,015 pounds of U3O8 at a cost of $36.11 per pound [7] - The average price for U3O8 sold was $62.89 per pound, with a total of 290,000 pounds delivered under sales contracts [7] - The company reported a net loss per share of $0.13, an increase from $0.04 per share in Q1 2024, attributed to higher exploration and extraction activities and a mark-to-market loss of over $9 million on marketable securities [7] Inventory and Costs - At the end of Q1 2025, the company had an inventory of 153,058 pounds of U3O8, with a total cost of $6,182,000, resulting in a cost per pound of $40.39 [6] - The cash cost of extracted pounds was $2,304,000, translating to $31.26 per pound, while non-cash costs amounted to $1,058,000, or $14.36 per pound [4] Operational Highlights - The company made a cash repayment of $12.2 million on a uranium loan, leading to a negative operating cash flow of $7.7 million [7] - Cash and equivalents stood at $29.7 million, with working capital of $35.7 million at the end of the quarter [7] Company Overview - enCore Energy Corp. is focused on providing clean, reliable, and affordable fuel for nuclear energy, utilizing In-Situ Recovery (ISR) for uranium extraction [10][11] - The company operates the Rosita Central Processing Plant in South Texas and has a joint venture with Boss Energy Ltd. for the Alta Mesa Project [11]