enCore Energy Boosts Uranium Extraction 242%, Raises $18.1M Through Warrant Exercises
enCore extracted 699,807 pounds of U3O8 in 2025, a 242% increase; delivered 655,000 pounds at $65.89 avg, narrowing net loss per share to $0.30 from $0.34. Year-end liquidity totaled $96 million—$52 million cash plus $18.1 million from warrant exercises—while enCore advances permitting at Upper Spring Creek and Dewey Burdock projects.
1. 2025 Financial Results
enCore reported a net loss per share of $0.30 for 2025, improved from $0.34 in 2024, and recognized sales of approximately 655,000 pounds of U3O8 at an average price of $65.89. Liquidity stood at $96 million, including $52 million cash, with $18.1 million added through warrant exercises in February.
2. Operations Performance
Operational extraction totaled 699,807 pounds of U3O8 in 2025, a 242% increase over the prior year. The company held 132,013 pounds of inventory at a cost of $37.77 per pound to meet 2026 delivery obligations.
3. Project Development Updates
Construction at the Upper Spring Creek Satellite Facility in South Texas has progressed but remains pending final TCEQ approvals. At the Dewey Burdock Project in South Dakota, permitting continues, with construction expected to start within 18 months after securing remaining regulatory milestones.