FINWIRES · TerminalLIVE
FINWIRES

enCore Energy Announces Completion of Construction at the Upper Spring Creek ISR Uranium Project

By

enCore Energy (EU.V) announced Thursday the completion of the first phase of construction on the Upper Spring Creek In-Situ Recovery (ISR) Uranium Project's Satellite Remote Ion Exchange (IX) Plant.

Construction of the first production wellfield, which will feed the IX Plant, is also nearing completion and will begin uranium extraction once final permits are received, said the company.

Among the highlights of the first phase of the Upper Spring Creek ISR Satellite IX Plant construction, the company said that currently constructed portion of the satellite can process 1,600 gallons per minute (gpm) through the facility. This represents 50% of the satellite's planned flow capacity, said the company.

The plant's flow capacity is in the process of being doubled, said the company, and added that before the end of June, 75% of the flow capacity is expected to be completed, and the plant is expected to be at 100% capacity by the end of July (3,200 gpm total capacity).

The new plant will be capable of producing from the first Upper Spring Creek Project area once connected to the wellfields currently under construction, said the company.

Drilling activities for the first 800-gpm module are complete, and wellfield infrastructure for this entire module is nearly completed, stated the company, and added that drilling and infrastructure activities for three other 800 gpm modules are "well underway". Module 2 drilling activities are about 90% complete, it added.

"This milestone reflects the dedication and teamwork of everyone involved," said William Sheriff, Executive Chairman. "The Upper Spring Creek Project strengthens the Company's operational capabilities by providing uranium-loaded resin feed for our fully licensed Rosita Central Processing Plant ("CPP"). We look forward to continuing this momentum as we move into the operational phase, which is planned in late 2026 once final permits are received."

Related Articles

Equities

AlphaMena Lowers Petro Rabigh PT, Keeps at Reduce

AlphaMena on Thursday lowered its price target for Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, to 15.70 Saudi riyals from 16.30 riyals, while maintaining a reduce rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$SASE:2380
Equities

Geodrill Renewing NCIB

Geodrill (GEO.TO), a West African based drilling company, announced Thursday that the Toronto Stock Exchange has accepted its notice of intention to renew its normal course issuer bid to purchase outstanding ordinary shares of the company on the open market in accordance with the rules of the TSX.Management and the board of directors of Geodrill believes that the underlying value of the company may not be reflected in the market price of the ordinary shares from time to time, a statement said. "Accordingly, the purchase of ordinary shares will increase the proportionate interest in the company of, and be advantageous to, all remaining shareholders of the company," it added.Any such purchases will occur from time to time and in aggregate will be up to 2,375,656 ordinary shares (being approximately 5% of the issued and outstanding ordinary shares of the company) over a 12-month period commencing on June 7, 2026 and terminating on June 6, 2027.Shares in GEO edged down $0.01 to $2.96 on the TSX yesterday.

$GEO.TO
Equities

Expro Group Advances Plan to Move Domicile to Cayman Islands

Expro Group (XPRO) said Thursday it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.Expro said the move would cut annual costs by more than $600,000, improve flexibility for dividends and buybacks, and potentially enhance index eligibility and M&A flexibility.In addition, shareholders would retain the same economic ownership in the company, which would remain listed on the NYSE under the "XPRO" ticker, Expro said.Expro said proxy advisory firm Institutional Shareholder Services has revised its initial position and now recommends shareholders vote in favor of the redomicile proposal.

$xpro