The latest update is out from enCore Energy ( (TSE:EU) ).
enCore Energy Corp. reported a significant increase in revenue for fiscal year 2024, driven by enhanced uranium extraction and sales activities. Despite this, the company experienced a net loss due to increased exploration and compliance costs. enCore transitioned to U.S. GAAP reporting, which is expected to positively impact future earnings by reducing non-cash expenses. The company achieved operational milestones, including the start-up of two uranium recovery plants and the formation of a joint venture with Boss Energy Ltd. enCore’s strategic focus remains on expanding its uranium extraction capabilities and securing regulatory approvals for its projects in South Texas, South Dakota, and Wyoming.
More about enCore Energy
enCore Energy Corp. operates in the clean energy sector, focusing on uranium extraction and production. The company is engaged in exploration and development activities, with a market focus on supplying uranium to nuclear power plants in the United States. enCore is recognized for its efforts in establishing a secure domestic uranium supply and advancing its in-situ recovery (ISR) uranium production capacity.
YTD Price Performance: -32.34%
Average Trading Volume: 210,470
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$670.9M
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