UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of June 2024
Commission File Number 001-41489
enCore Energy Corp.
(Translation of registrant’s name into English)
101 N. Shoreline Blvd. Suite 450, Corpus Christi,
TX 78401
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40F:
Form 20-F ☐ Form 40-F ☒
Incorporation by Reference
Exhibit 99.1 of this Form 6-K of enCore Energy Corp. (the “Company”) is incorporated by reference as an additional exhibit to the Company’s Registration Statements on Form F-10 (File Nos. 333-272609 and 333-269428), as amended and supplemented, and the Company’ s Registration Statement on Form S-8 (File No. 333-273173), as amended and supplemented.
The following documents are being submitted herewith:
Exhibit | Description | |
99.1 | Material Change Report dated June 20, 2024 |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
enCore Energy Corp. | ||
(Registrant) | ||
Date: June 20, 2024 | By: | /s/ Robert Willette |
Name: | Robert Willette | |
Title: | Chief Legal Officer |
2
Exhibit 99.1
FORM 51-102F3
MATERIAL CHANGE REPORT
1. | NAME AND ADDRESS OF COMPANY |
enCore Energy Corp. 101 N. Shoreline Blvd, Suite 450 Corpus Christi, TX 78401 | |
2. | DATE OF MATERIAL CHANGE |
June 13, 2024 | |
3. | NEWS RELEASE |
News release dated June 13, 2024 was disseminated through the facilities of PRNewswire. | |
4. | SUMMARY OF MATERIAL CHANGE |
enCore Energy Commences Uranium Production at its Second South Texas Project | |
5. | FULL DESCRIPTION OF MATERIAL CHANGE |
enCore Energy Corp. (“enCore” or the “Company”) (Nasdaq: EU; TSXV: EU) announced the successful startup of production at the Alta Mesa Uranium Central Processing Plant (“CPP”) and Wellfield (“Alta Mesa Project”). With the restart of the previously producing Alta Mesa Project, enCore Energy is now the only uranium producer in the United States with multiple production facilities in operation. The initial ramp up will be a progressive process to advance and continually increase uranium production via direct feed to the CPP. enCore is anticipating its first shipment of yellowcake (uranium) from the Alta Mesa Project to occur in approximately 60 to 90 days. | |
Alta Mesa In-Situ Recovery (“ISR”) Uranium Central Processing Plant (“CPP”) & Wellfield | |
The Alta Mesa Project hosts a fully licensed and constructed CPP and operational wellfield located on 200,000+ acres of private land and mineral rights in and regulated by the state of Texas. Only 5% of the project area has been explored with 52 linear miles of stacked uranium roll fronts identified; 5 miles of which have been explored to date. The Alta Mesa Project operates under a 70/30 joint venture with Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) that is managed by enCore Energy Corp. | |
Total operating capacity at the Alta Mesa CPP is 1.5 million lbs. U3O8 (uranium) per year with additional drying capacity of 0.5 million lbs. The Alta Mesa CPP historically produced nearly 5 million lbs. of uranium between 2005 and 2013 when production was curtailed as a result of low prices. The Alta Mesa Project utilizes well-known ISR technology to extract uranium in a non-invasive process using natural groundwater and oxygen. | |
Currently, oxygenated water is being circulated in the wellfield through injection or extraction wells plumbed directly into the primary pipelines feeding the CPP. Expansion of the wellfield will continue with production to steadily increase from the wellfield as expansion continues through 2024 and beyond. | |
To view the South Texas project maps please visit: https://bit.ly/3KFDitK |
Alta Mesa & Mesteña Grande Mineral Resource Summary (0.30 GT cutoff)1,2 | Tons | Avg. Grade (% U3O8) | Pounds | |||||||||
Total Measured Mineral Resource1 | 54,000 | 0.152 | 164,000 | |||||||||
Alta Mesa Indicated Mineral Resource | 1,397,000 | 0.106 | 2,959,000 | |||||||||
Mesteña Grande Indicated Mineral Resource | 119,000 | 0.120 | 287,000 | |||||||||
Total Measured & Indicated Resources | 1,570,000 | 0.109 | 3,410,000 | |||||||||
Alta Mesa Inferred Mineral Resource | 1,263,000 | 0.126 | 3,192,000 | |||||||||
Mesteña Grande Inferred Mineral Resource | 5,733,000 | 0.119 | 13,601,000 | |||||||||
Total Inferred Resources | 6,996,000 | 0.120 | 16,793,000 |
1,2 Represents that portion of the in-place mineral resource that are estimated to be recoverable within existing wellfields. Wellfield recovery factors have not been applied to indicated and inferred mineral resources. As reported in the NI-43-101 Technical Report Summary for the Alta Mesa Uranium Project, Brooks and Jim Hogg Counties, Texas, USA completed by Doug Beahm, PE, PG, of BRS Engineering. (Effective January 19, 2023) | |
John M. Seeley, Ph.D., P.G., C.P.G., enCore’s Manager of Geology and Exploration, and a Qualified Person under NI 43-101, has reviewed and approved the technical disclosure in the news release dated June 13, 2024 on behalf of the Company. |
Stock Option Grant | |
The Company also announces that it intends to grant incentive stock options (the “Options”) to certain of its directors, officers and consultants, to purchase an aggregate of up to 1,700,000 common shares in the capital of the Company at an exercise price equal to the closing price on the TSX Venture Exchange on June 13, 2024. The Options will be effective for five years and vesting will occur over a twenty-four month period with 25% of the Options vesting every six months until fully vested. | |
6. | RELIANCE ON SUBSECTION 7.1(2) OF NATIONAL INSTRUMENT 51-102 |
Not applicable. | |
7. | OMITTED INFORMATION |
Not applicable. | |
8. | EXECUTIVE OFFICER |
William M. Sheriff, Executive Chairman Telephone: 972-333-2214 | |
9. | DATE OF REPORT |
June 20, 2024 |