Uranium producer Encore slides on stock sale plans, wider loss
EU•Stock performance
EU shares, on course to snap a seven-day winning streak, were down about 50% year to date.
Quarterly and half-year losses widen
It posted a second-quarter loss of 21 cents per share compared with a loss of 3 cents a year earlier.
For the six months ended in June, it reported a loss of 19 cents per share versus a loss of 16 cents for the comparable period last year, driven primarily by lower extraction and a fair value adjustment of Verdera Energy Corp shares.
Shares fall after equity offering plan
Uranium producer Encore Energy's EU.O shares were down 13.4% at $1.20 in early Thursday trading as it seeks capital after reporting a wider loss.
Dallas, Texas-based company filed a $250 million (or equivalent Canadian dollars) "at the market" equity offering program to be handled by Cantor Fitzgerald, RBC, B. Riley and Jett Capital.
The company, which has about 194.3 million shares outstanding, intends to use net offering proceeds for potential acquisitions, growth opportunities and general purposes.
