Encore energy call1/1/2023 To support our production pipeline and development plans, we have a uranium sales strategy supported by a base structure of term supply agreements while preserving exposure to the spot market. Compared to conventional underground and open pit uranium mining and milling, the historic worker safety record in the ISR segment of industry has been unsurpassed in the mining industry overall. ISR extraction, when compared to conventional open pit or underground mining, requires less capital and operating expenditures with a shorter lead time to extraction and a reduced impact on the environment, including minimizing groundwater use. With our diverse portfolio of uranium projects, enCore is prioritizing those projects that will utilize in-situ recovery (ISR) technology to produce uranium. With our skilled, experienced technical team and workforce, we operate with phenomenal safety records and years without a Lost Time Accident. We have leveraged that data to acquire near term production uranium properties. Our team utilizes a collection of multiple data bases of United States assets allowing us to benefit exclusively in the uranium sector from historic drilling data in our exploration efforts. We have a broad set of uranium assets that provide a growing production pipeline that includes near term production, advanced development, long term, and exploration projects. Our strong technical team forms the basis for our strength, including expertise in ISR operations, reclamation, permitting and exploration. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of in situ recovery (ISR) extraction uranium operations and the nuclear fuel cycle. as a source of uranium to secure a domestic supply chain and diversify their demand away from Russia, Kazakhstan, and China.ĮnCore's business objective represents a powerful economic opportunity in the changing uranium market. is completely reliant on imported uranium, but with the shift to deglobalize supply chains, domestic nuclear power utilities are looking to the U.S. The growing urgency to reduce carbon emissions world-wide has pushed nuclear energy generation to the forefront with the United States being the world's largest consumer of uranium. Nuclear energy, fueled by uranium, is gaining acceptance as a clean and reliable energy source, a clearly superior choice for the world. According to the World Nuclear Association, globally there are 439 reactors operating, 56 reactors under construction, and 96 reactors planned for construction. There are many factors contributing to the change in global fundamentals including continued deferment of re-starts of existing standby and new primary sources of supply, along with a continued increase in the number of operating nuclear reactors and reactors under construction. Uranium market conditions are improving as a result of realization of market supply-demand fundamentals and a shift toward de-globalization in the nuclear industry. The Company is a reporting issuer in British Columbia, Alberta and Ontario, and trades on the TSX Venture Exchange (symbol "EU") and on the OTCQB Venture Market (symbol "ENCUF").ĮnCore Energy Corp.'s business objective is to be a leading, low cost and profitable in-situ recovery uranium producer in the United States. was incorporated on Octounder the Laws of British Columbia and is principally engaged in the acquisition and exploration of resource properties in the United States. Additional information related to the Company is available on SEDAR at COMPANY BACKGROUNDĮnCore Energy Corp. The following information, prepared as of Apshould be read in conjunction with the consolidated financial statements for the years ended Decemand 2020, and the accompanying notes thereto, which have been prepared in accordance with International Financial Reporting Standards ("IFRS").Īll dollar figures included in management's discussion and analysis ("MD&A") are quoted in Canadian dollars unless otherwise indicated. and its subsidiaries ("enCore", or the "Company") for the years ended Decemand 2020. Set out below is a review of the activities, results of operations and financial condition of enCore Energy Corp. FOR THE TWELVE MONTHS ENDED DECEMAND 2020
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