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    EU   CA29259W7008

ENCORE ENERGY CORP.

(EU)
  Report
Delayed Bourse de Toronto  -  04:00 2022-09-29 pm EDT
3.430 CAD   -1.15%
09/15Encore begins trading on consolidated basis under the symbol of 'encud' on the otc market, tsx.v symbol remains unchanged as 'eu'
AQ
09/14EnCore Energy One-for-Three Share Consolidation Complete
MT
09/14Encore begins trading on consolidated basis under the symbol of "encud" on the otc market; tsx.v symbol remains unchanged as "eu"
PR
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

EnCore Energy Corp. Announces Continuing Positive Results from Its Uranium Delineation Drilling Programs At Its 100% Owned Rosita Project in South Texas

08/02/2022 | 07:00am EDT

enCore Energy Corp. announced continuing positive results from its uranium delineation drilling programs at its 100% owned Rosita Project in South Texas. The on-going drilling program is currently concentrating on the Rosita Extension PAA (Production Authorization Area), adjacent to enCore's fully licensed Rosita ISR (In-Situ Recovery) Processing Plant.

The drilling program has confirmed, expanded and upgraded the historic mineralized trends, which will be the initial source of uranium feed for processing at the Rosita Plant. enCore's Rosita Plant, located approximately 60 miles from Corpus Christi, Texas, is a licensed, past-producing in-situ recovery (ISR) uranium plant that is completing refurbishment. The final stage of refurbishment work will be completed with the delivery of six pumps that have been delayed due to unexpected supply chain interruptions.

They remain on budget and the delay is not expected to impact scheduled production startup in 2023. The Rosita Plant is designed to process uranium feed from multiple satellite operations, all located in the South Texas area, and is 1 of 11 licensed and constructed uranium processing plants in the United States, 2 of which are owned by enCore Energy. All drill holes are 5.625-inch diameter rotary-mud holes.

Each hole is logged with electrical and gamma methods upon completion. Any anomalous gamma readings are followed up with Prompt Fission Neutron (PFN) surveys which provide direct and accurate in-situ uranium values eliminating any concerns over disequilibrium. The Company owns and operates 2 logging trucks and 5 PFN tools.

Many uranium deposits have a degree of disequilibrium, whereby the radioactivity measured in drill holes using traditional gamma methods does not accurately correspond to ore grade, due to the continued decay of uranium daughter products including potassium, thorium, lead and bismuth relative to radium (Ra226), a significant gamma emitter. Traditionally, accurate uranium values are therefore determined by chemical assay of drill core which is time consuming and expensive. Without accurate uranium values, the potential for inaccurate estimates of mineralization on both the high and low side is ever present.

Real-time PFN analysis accurately eliminates potential errors by using neutron activation to directly detect and quantify uranium content in place down the drill hole. The PFN tool creates very fast neutrons (14MeV) and fires 108 neutrons per second. Therefore, the neutrons emitted by the PFN tool excite, at an atomic level, in-situ uranium atoms in the drill hole, creating fast (epithermal) neutrons and slow (thermal) neutrons.

The ratio of epithermal to thermal neutrons is proportional to uranium, allowing the U3O8 ore grade to be accurately calculated. This provides a relatively inexpensive and instantaneous means for accurate assaying of in-situ ore grades over large areas, and it allows for accurate ore body mapping, resource estimation, and wellfield planning.


© S&P Capital IQ 2022
All news about ENCORE ENERGY CORP.
09/15Encore begins trading on consolidated basis under the symbol of 'encud' on the otc mark..
AQ
09/14EnCore Energy One-for-Three Share Consolidation Complete
MT
09/14Encore begins trading on consolidated basis under the symbol of "encud" on the otc mark..
PR
09/14Encore begins trading on consolidated basis under the symbol of "encud" on the otc mark..
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Financials
Sales 2021 - - -
Net income 2021 -10,7 M -7,83 M -7,83 M
Net cash 2021 11,3 M 8,27 M 8,27 M
P/E ratio 2021 -29,2x
Yield 2021 -
Capitalization 373 M 272 M 272 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 94,5%
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 3,47 CAD
Average target price 7,60 CAD
Spread / Average Target 119%
Managers and Directors
William Paul Goranson Chief Executive Officer & Director
Carrie Mierkey Chief Financial Officer
William Morris Sheriff Executive Chairman
Dennis E. Stover Chief Technology Officer & Director
Peter Luthiger Chief Operating Officer
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