Friday, June 25, 2021

enCore Energy Corp. (ENCUF)(EU:CA)
enCore announces PEA results for its New Mexico properties

enCore Energy Corp together with its subsidiary, is engaged in the acquisition and exploration of resource properties. The company holds the Marquez project in New Mexico as well as the dominant land position in Arizona with additional other properties in Utah and Wyoming. The firm also owns or has access to North American and global uranium data including the Union Carbide, US Smelting and Refining, UV Industries, and Rancher's Exploration databases in addition to a collection of geophysical data for the high-grade Northern Arizona Breccia Pipe District.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

enCore announced Preliminary Economic Assessment results for its recently-consolidated Juan Tafoya and Marquez projects in New Mexico. The assessment covers historical company assets and assets acquired in the Westwater Resources transaction of last year. As a reminder, these assets are long term in nature, and we do not expect the company to mine the projects in the near future. Instead, we expect management to focus on Texas operations including the reactivation of the Rosita production facility.

The PEA reports a range of value of $20.9-$71.2 million.  The range assumes uranium yellowcake prices of $60-$70/lb. Internal return rates range from 17-39% and assume capital costs of $72 million and a 7% discount rate. All-in costs are estimated at $48/lb. As a reminder, current uranium spot prices are closer to $30/lb. and contracted prices are near $40/lb., well below the PEA's assume prices ...

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.