enCore Energy Corp. reported a net loss per share of $0.19 for the six months ended June 30, 2026, compared to a loss of $0.16 for the same period in 2025. The increased loss was driven primarily by lower uranium extraction and a fair value adjustment of shares held in Verdera Energy Corp.

Uranium deliveries into contracts rose to 485,000 pounds of U3O8 at an average sales price of $70.10 per pound during the first six months of 2026, up from 350,000 pounds at an average sales price of $62.58 per pound in the corresponding 2025 period. The weighted average cost of delivered U3O8 increased to $75.54 per pound, which included 360,000 purchased pounds, compared to a weighted average cost of $59.42 per pound in the first half of 2025.

U3O8 extraction across enCore Energy's operations fell to 131,274 pounds for the six-month period, down from 317,613 pounds during the first half of 2025. Extraction costs rose to $57.36 per pound, compared to $42.92 per pound previously, as a result of the lower extraction volumes.

At the Alta Mesa Project, extraction at Wellfield 7 is scheduled to cease during the third quarter of 2026 due to anticipated depletion as the end of its natural life approaches. Final permitting to begin extraction operations at the Wellfield 3 Extension is anticipated in the fourth quarter of 2026, with costs fully expensed and the wellfield ready for immediate operation upon receipt of final permits. Permits for Wellfield 8 are anticipated by the end of the first quarter of 2027.

Initial start-up extraction from the Upper Spring Creek Wellfield and Satellite IX Plant is also anticipated in the fourth quarter of 2026 to feed the Rosita Central Processing Plant immediately upon receipt of final permits.

The company held total liquidity of $88.4 million as of June 30, 2026, consisting of $21.8 million in unrestricted cash, $52.2 million in marketable securities, and $14.4 million in inventory. Adjusted total liquidity stood at $73.5 million after excluding marketable securities held in Verdera Energy Corp.

Read the full announcement: enCore Energy Reports Q2 2026 Financial Results