Encore Energy Corp. · TSXV:EU
Encore Energy — Investor Presentation (January 2024)
40 slides from Encore Energy's investor presentation, January 2024
Slide 1: Domestic Uranium Production in the USA
Domestic Uranium Production in the USA January 2024 NASDAQ:EU | TSX.V:EU encoreuranium.com
Slide 2: Disclaimer
Disclaimer ©2023 enCore Energy Corp., All rights reserved. Unless otherwise noted, “enCore” and all other marks used in this presentation are trademarks of enCore Energy (the “Company”). Any reproduction or dissemination of any feature of this presentation, in whole or in part, or any use of this pr
Slide 3: enCore Energy: America's Clean Energy Company
enCore Energy: America’s Clean Energy Company™ Reliable, responsible domestic uranium production in 2023 South Texas Focus: Rosita, Advanced Assets: US In-Situ Recovery: Uranium CPP now producing, Alta Mesa Production Pipeline Extraction process with proven planned 2024 production 74.42 Mlbs - M&I c
Slide 4: America's Clean Energy Company: uranium spot price and history
enCore Energy: Uranium Spot Price (USD$) 150 America’s Clean Energy Company™ 100 URANIUM Fully funded uranium production strategy to provide clean, reliable and carbon-free domestic 50 energy enCore’s Goal: 0 Establish an annual 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 production rate
Slide 5: enCore corporate summary
NASDAQ:EU | TSX.V:EU enCore corporate Market Capitalization (@$3.84 USD)* $ 634,828,024 USD summary Shares Issued & Outstanding 165,319,798 Warrants 31,461,804 Options 8,412,882 Fully Diluted 205,194,484 Debt $ 20.0 mm USD Marketable Securities – Current $ 13,804,419 USD Marketable Securities – Long
Slide 6: Board of directors and management
Board of directors and management William M. Sheriff, MSc Executive Chairman Richard M. Cherry, MSc, PE Mr. Sheriff was a pioneer in the uranium renaissance as Director co-founder and Chairman of Energy Metals Corp., which Mr. Cherry is a veteran executive with over 40-years of experience in the was
Slide 7: Update: Announced & Pending Alta Mesa Transaction
Update: Announced & Pending Alta Mesa Transaction: Accelerating Company-Wide Production A joint venture on Alta Mesa Collaboration with enCore holding a 70% Agreement on the use joint venture interest and and joint technological remaining the project advancement of manager, and Boss Energy enCore’s
Slide 8: Now in Production: Rosita Central ISR Uranium Processing Plant (CPP)
Now in Production: Rosita Central ISR Uranium Processing Plant (CPP) Successful restart (November A fully licensed CPP with a 2023) of the 100% owned and fully production capacity of constructed past-producing CPP. 800,000 pounds of U3O8 per Wellfield production operational year; ability to double w
Slide 9: Global uranium supply
Global uranium supply Uranium Production U.S. uranium supply to commercial nuclear reactors (1950-2017) By Country (2019) Million pounds U3O8 Kazakhastan, 6.1% Canada, and 5.3% 7.3M 80 Australia produce 6.4M Nearly 70% of the 5.6% 70 world’s uranium. 6.7M 60 Kazakhstan 42.1% 6.5% 42.1% 7.7M 50 Canad
Slide 10: enCore Energy in the nuclear fuel cycle
enCore Energy in the nuclear fuel cycle NASDAQ:EU | TSX.V:EU 10
Slide 11: enCore: production pipeline
enCore: production pipeline GOAL : 3 million pounds U3O8/year production rate by 2026 5 million pounds U3O8/year production rate by 2028 NASDAQ:EU | TSX.V:EU 11
Slide 12: South Texas
South Texas A prolific US district for sandstone-hosted ISR production with historic production of ~80 million pounds. Most progressive permitting and production jurisdiction in the US. 47 identified deposits with ~60 million pounds of in-situ mineralization remaining. The USGS estimates the
Slide 13: South Texas operations
South Texas operations 3 Fully licensed, constructed 3.6 million pounds U3O8 and 100% owned Central ISR per year combine capacity; Uranium Processing Plants 3 year production goal of 3 (CPPs): Rosita, Kingsville Dome, million pounds/annually Alta Mesa Rosita CPP production now 4 uranium sales underw
Slide 14: Rosita Central ISR Uranium Processing Plant (CPP)
Rosita Central ISR Uranium Processing Plant (CPP) South Texas One of enCore’s key assets – in production as of November 2023. Located ~60 miles west of Corpus Christi, Texas; covers over 3,500 acres of mineral rights and plant facilities. A fully licensed CPP with a production capacity of 800,
Slide 15: Alta Mesa Central ISR Uranium Processing Plant (CPP)
Alta Mesa Central ISR Uranium Processing Plant (CPP) South Texas One of enCore’s key assets – planned for production start in 2024. Fully licensed CPP & existing resource located 80 miles from the Rosita CPP and 75 miles from the Kingsville Dome CPP. Total operating capacity of 1.5 million pou
Slide 16: Dewey-Burdock Project
Dewey-Burdock Project South Dakota Edgemont uranium district in southwest South Dakota, approximately 60 miles from Cameco’s Crow Butte mine in Nebraska. Mineral rights and surface rights covering approximately 16,960 acres and 12,610 acres, respectively. 16 miles from Edgemont, serviced by two-lane
Slide 17: Dewey-Burdock Project
Dewey-Burdock Project South Dakota 2019 PRELIMINARY ECONOMICS ASSESSMENT Initial capital costs of US$31.7m is ‘sector leading’ for a project of this size Pre-tax IRR of 55% at US$55/lb long-term uranium 21 years Mine Life price (post-tax IRR of 50%) (incl. 2 year ramp-up) Annual Production 1.0 M
Slide 18: Gas Hills Project
Gas Hills Project Wyoming Located in Fremont and Natrona Counties, Wyoming. Wyoming has long history of successful ISR operations and is an Agreement state with positive permitting timelines. 100% ownership; road, power, natural gas and water access available nearby. Historic cumulative prod
Slide 19: Gas Hills Project
Gas Hills Project Mine Life 7 years Wyoming Annual Production 1.0 Mlbs/yr LOM Production 6.5 Mlbs 2021 PRELIMINARY ECONOMIC ASSSSMENT RESULTS15 Initial Capital Costs US$26.0M (US$3.99/lb) Potential satellite project to Dewey Burdock ISR Project Cash Operating Costs US$11.52/lb - Plant and well fie
Slide 20: Crownpoint and Hosta Butte Project
Crownpoint and Hosta Butte Project New Mexico • A dominant land position in New Mexico – long term opportunity. • New Mexico’s Grants Uranium District has produced ~350 million pounds U3O8, or nearly 40% of all uranium mined in the US and is one of the largest uranium districts in the world4. • A ‘c
Slide 21: Crownpoint and Hosta Butte Project
A view of Laramide’s processing facility site on Section 24 Crownpoint and Hosta Butte Project New Mexico Crownpoint is permitted under Laramide Resources Ltd.’s Nuclear Regulatory Commission License to recover up to 3 million pounds per year. Crownpoint and Hosta Butte Current Mineral Resource Es
Slide 22: Other assets
Other assets Exclusive access to privately-held databases of world-wide uranium data. Non-core asset divestment strategy. Investing in new technology: Group 11 Technologies, working to revolutionize environmentally-friendly mineral extraction of other metals by combining two proven technologie
Slide 23: enCore Energy: investment summary
enCore Energy: investment summary Now in Production Phased Expansion Clean, Reliable Energy Commenced South Texas 3.6 million pounds/yr Favorable conditions for production at Rosita CPP 11/23. production potential with ability domestic uranium market 2024 production planned at Alta to increase capac
Slide 24: America's Clean Energy Company
America’s Clean Energy Company™ www.encoreuranium.com info@encoreuranium.com 778.383.6746 enCore Board and Management at Rosita CPP NASDAQ:EU | TSX.V:EU 24
Slide 25: In-Situ Recovery (ISR) environmentally superior & economically competitive
In-Situ Recovery (ISR) environmentally superior & economically competitive ISR uses injection wells which add oxygen and carbon dioxide creating a lixiviant solution; uranium dissolves into the solution. Recovery wells pump the solution back to the surface to a processing facility. Monitoring wells
Slide 26: Global uranium & nuclear environment
Global uranium & nuclear environment Uranium supply in a ~200 nuclear reactors under construction or planned – net deficit position an increase of more than 40% of current operating nuclear fleet.1 “Global realignment away from Russia in the nuclear fuel supply chain…new emphasis on western, and in
Slide 27: Uranium Spot Price: timelines for supply shortage
Uranium Spot Price (USD) 150 6 100 Timelines for URANIUM 7 10 Supply 9 Shortage 5 4 50 Events in the 3 8 Uranium 1 2 March 2007- Sector: June 2009 Financial Crisis 0 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 History of Events 1. April 2003 McArthur River Mine Flood 6. February 2007 Rang
Slide 28: The nuclear industry
The nuclear industry Strong public and private backing for development of Small Modular Reactors (SMRs) A key part of the Department of Energy’s goal to develop safe, clean, and affordable nuclear power options. A multi-year cost-shared funding opportunity was issued to support innovative, domes
Slide 29: US uranium sector renaissance
US uranium sector renaissance Global Geopolitics Domestic Supply Needed Department of Energy Nuclear Fuel Global nuclear fuel supply chain disrupted 60% of US uranium flows through Russia Strategic Uranium Reserve 2020 Energy Act: funding 3 and is “no longer a trustworthy source of Small Modular Rea
Slide 30: enCore Energy: America's Clean Energy Company
enCore Energy: America’s Clean Energy Company™ Fully funded uranium production strategy to provide clean, reliable and carbon-free domestic energy enCore’s Goal: Establish an annual production rate of 3 million pounds U3O8 per year by the end of 2026 and 5 million pounds U3O8 per year by the end of
Slide 31: Uranium supply and demand forecast
250 Million lbs U3O8 $82 200 Uranium Supply & Supply Gap (Required New Production) 150 Demand $51 Forecast 100 Historical Ux Price1 $25 Established Production 50 1Source: Historical Ux Weekly Prices, UxC.com 2Source: Uranium Market Study 2022 Issue 4, TradeTech, LLC NASDAQ:EU | TSX.V:EU 31
Slide 32: United States Production History
United States Production History Among largest US ISR mines, operating until uranium prices depressed post-Fukushima 21st Century US ISR Production 24 22.0 22 20 Historic Production (Mlbs U3O8) 18 16 14 12 11.1 10 8 6 4.6 4 2.9 2.8 2 1.3 0.7 0.6 0.4 0 Smith Ranch Crow Butte Alta Mesa Lost Creek Will
Slide 33: enCore Energy: America's Clean Energy Company
enCore Energy: America’s Clean Energy Company™ Fully funded uranium production strategy to provide clean, reliable and carbon-free domestic energy enCore’s Goal: Establish an annual production rate of 3 million pounds U3O8 per year by the end of 2026 and 5 million pounds U3O8 per year by the end of
Slide 34: Windmills vs nuclear energy
Windmills vs nuclear energy NASDAQ:EU | TSX.V:EU 34
Slide 35: 1 nuclear energy plant vs wind power
1 nuclear energy plant vs wind power NASDAQ:EU | TSX.V:EU 35
Slide 36: Safe nuclear power
Safe nuclear power Comparative death rates per unit of electricity production Based on deaths from accidents and air pollution per terawatt-hour (TWh) of electricity. NASDAQ:EU | TSX.V:EU 36
Slide 37: In-situ Recovery and Central Processing Plant
In-situ Recovery and Central Processing Plant NASDAQ:EU | TSX.V:EU 37
Slide 38: Pathway to production assets
enCore Energy resources Pathway to production assets NI 43-101 Mineral Resources Alta Mesa Project, South Texas16 Resource Category Million Tons Grade eU3O8% Attributable U3O8 (M lbs.*) Indicated mineral resource (ISR) 1.57 0.109 3.41 Inferred mineral resource (ISR) 7.00 0.120 16.79 Dewey-Burdock Pr
Slide 39: Other assets
NI 43-101 mineral resources Other assets Juniper Ridge Project, Wyoming11 Project Million Tons Grade eU3O8% Attributable U3O8 (M lbs.*) Indicated mineral resource (non-ISR) 5.14 0.058 6.01 Inferred mineral resource (non-ISR) 0.11 0.085 0.18 Aladdin Project, Wyoming14 Project Million Tons Grade eU3O8
Slide 40: References
enCore Energy References 1. S. Hall, M. Mihalasky, K. Turek, J. Hammarstrom & M. 25, 2008, Uranium Resources Inc., “Ore Reserve 13. Technical Report on the Aladdin Uranium Project, Crook Hannon“Genetic and grade and tonnage models for sandstone- Calculation Sheet 3, T14N R10W Section 27”, in County,