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Initiate permitting to advance the Gas Hills project in Wyoming Īdvance future development of the Aladdin and Dewey Terrace properties in Wyoming. Intensify and accelerate permitting related to the advancement of the Dewey Burdock project in South Dakota With the completion of the transaction, additional work on projects previously held by Azarga Uranium will include: Implement an expanded community outreach strategy to develop long term mutually-beneficial opportunities in New Mexico Įvaluation of and advancing future growth opportunities. NI 43-101 resource estimates and reclassification of historic resources nearing completion Rosita project wellfield drilling underway
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South Texas based Rosita Plant modernization on schedule and on budget for a Q2/22 completion Įxpansion of Texas resource base for Rosita production With this transformational acquisition complete and a strong cash position, work is underway to implement enCore's operational gameplan: Our experienced operating team looks forward to building upon Azarga Uranium's success to create additional value through development progress and production while continuing to advance our Texas assets to production to deliver into two sales contracts beginning in 2023." Paul Goranson, Chief Executive Officer of enCore, commented: "Dewey Burdock is an excellent advanced ISR uranium project along with the Gas Hills property in Wyoming. We believe industry consolidation in conjunction with an elite operational team are the keys to success in building a leading US ISR company." This second major acquisition for enCore within the last 12 months is in keeping with our announced decision to implement the aggressive M&A strategy our team successfully used to quickly build Energy Metals Corp, which was sold for $1.6 billion during the last uranium cycle. This strategic acquisition adds strong mid-term ISR opportunities in Wyoming and South Dakota to enCore's pipeline of near term production in Texas and longer-term opportunities in New Mexico. William Sheriff, Executive Chairman of enCore, stated: "ISR production has major operating and capital cost advantages as well as significantly less environmental impact compared to conventional mining. The completion of the Arrangement is the second major acquisition by enCore within the past twelve months and represents a continuation of enCore's strategy to create the leading United States ISR uranium producer. Logo (CNW Group/enCore Energy Corp.)ĮnCore's assets include the licensed Rosita & Kingsville production facilities in South Texas, the advanced-stage Dewey Burdock development project in South Dakota, which has been issued its key federal permits, the PEA-stage Gas Hills Project, located in Wyoming, and a dominant portfolio of large high quality ISR projects throughout Wyoming and New Mexico. Williams lives in Austin with his wife and three children.EnCore Energy Corp. His second degree in Petroleum Engineering was earned at the University of Texas at Austin. Williams began his career as a sniper in the United States Marine Corps and shortly thereafter attended UCLA from which he earned his first college degree in Economics. He has also served as Vice President at RBC Richardson Barr, and as a Reservoir Engineer with Cawley, Gillespie and Associates. Prior to Luxe, Williams served as Co-Head of Business Development and COO of A&D for Citigroup, Inc. Ultimately, Williams helped Luxe Energy become a 35,000 net acre Delaware basin company producing 25,000 net barrels of oil equivalent per day from 33 horizontal wells with a strong balance sheet. Williams also served as Vice President of Business Development for Luxe Energy, where he was integral in establishing the company’s operated position, creating drilling capital financing, negotiating commercial contracts, managing relationships with potential buyers, and managing banking relationships. As President of Luxe Minerals, Williams grew the company to a core 15,000 net royalty acres in the Permian Basin. While a significant portion of his background is in energy finance, Williams most recently served in executive officer roles in partnership with Luxe Energy and Luxe Minerals. EnCore Permian COO and Partner Ted Williams has a long and demonstrated history in the energy industry.