enCore Energy Reports Year-End Financial Results, Strengthens Balance Sheet Through Warrant Exercises and Advances Key U.S. Uranium Projects

Core Insights - enCore Energy Corp. reported strong operational performance for the year ended December 31, 2025, with significant increases in uranium extraction and liquidity [1] - The company extracted nearly 700,000 pounds of U3O8, marking a 242% increase from the previous year, and achieved a closing liquidity of $96 million [1] - The successful exercise of warrants in February 2026 raised approximately $18.1 million, further strengthening the company's financial position [1] Financial Performance - The closing cash and equivalent balance was $52 million, with a total liquidity of $96 million [1] - The company had an inventory of 132,013 pounds of U3O8 at a cost of $37.77 per pound [1] - Sales of approximately 655,000 pounds of U3O8 were made at a price of $65.89, with a weighted average cost of $51.09 [1] - The net loss per share was $(0.30), an improvement from $(0.34) in the previous year [1] Project Development - Construction activities at the Upper Spring Creek Satellite Facility are ongoing, with some delays due to regulatory approvals from the Texas Commission on Environmental Quality (TCEQ) [1] - The company anticipates completing construction and commencing operations once the remaining approvals are received [1] - The Dewey Burdock Project in South Dakota is progressing through permitting and development planning, with construction expected to start within the next 18 months [1] Strategic Positioning - enCore Energy is focused on expanding domestic uranium production capacity and believes its ISR uranium projects will play a significant role in supporting the U.S. clean energy future [1] - The company is committed to working with local communities and indigenous governments to create positive impacts from its developments [2]