Company Overview - enCore Energy is positioned as the largest ISR uranium extractor in the United States, with operations underway at two plants[14] - The company has significant S-K 1300 resources, including 30.94 million pounds in the Measured and Indicated (M&I) category and 20.54 million pounds in the Inferred category[19] - enCore Energy's market capitalization was approximately $598.85 million as of October 31, 2025, with 187,139,534 shares issued and outstanding[52] Uranium Market and Strategy - The United States faces a growing demand for uranium, with demand increasing by +48 million pounds per year, while domestic supply is declining by -200,000 pounds per year[45] - The company employs a uranium sales strategy supported by sales agreements while preserving exposure to the market[22] - Current contracts represent less than 38% of planned extraction through 2033, allowing for significant upside exposure to spot market pricing[184] Project Pipeline and Production - Alta Mesa CPP commenced operations in Q2 2024 and is configured to operate at 1 million lbs per year, currently running at 60% of that capacity[131] - Daily production at Alta Mesa averaged 2,678 pounds per day in June 2025[136] - The Dewey Burdock ISR Uranium Project has measured resources of 14,285,988 lbs and indicated resources of 2,836,159 lbs of U₂O₃[166]