enCore Energy Corp. (NASDAQ:EU | TSXV:EU) (the “Company” or “enCore”), America’s Clean Energy CompanyTM, today announced its financial and operational results for the three months ended March 31, 2025.
Highlights for Three months ended March 31, 2025 Include:
- Total of 130,015 pounds of uranium (“U3O8”) extracted and processed at a cost of $36.11 per pound;
- Delivery of 290,000 pounds of U3O8 into sales contracts at an average price of $62.89 per pound;
- Cost of pounds delivered from inventory of $62.97 per pound;
- In addition to sales of 290,000 pounds, 29,126 pounds of U3O8 were transferred to the account of Boss Energy Ltd, the 30% JV partner at the Alta Mesa Project;
- U3O8 inventory at quarter-end totaled 153,058 pounds at a cost of $40.39 per pound;
- $12.2 million cash repayment of uranium loan resulting in negative operating cash flow of $7.7 million;
- Cash and equivalents of $29.7 million and working capital of $35.7 million at end of quarter;
- Net loss per share of $0.13, compared to $0.04 per share in Q1 2024, primarily due to:
- Increased exploration and extraction activity in 2025 related to wellfield installations; and;
- The mark to market loss on the fair value of marketable securities held of over $9.0 million due to unfavorable market conditions.
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