# EDGAR Filing Document

**Accession Number:** 0001500881
**File Stem:** 0001193125-25-177443
**Filing Date:** 2025-8
**Character Count:** 23907
**Document Hash:** 139d599d15da9b1b57e2a5457e9bada4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-177443.hdr.sgml**: 20250811

**ACCESSION NUMBER**: 0001193125-25-177443

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250811

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250811

**DATE AS OF CHANGE**: 20250811

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** enCore Energy Corp.
- **CENTRAL INDEX KEY:** 0001500881
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS METAL ORES [1090]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41489
- **FILM NUMBER:** 251200145

**BUSINESS ADDRESS:**
- **STREET 1:** 101 N. SHORELINE BLVD, SUITE 450
- **CITY:** CORPUS CHRISTI
- **STATE:** TX
- **ZIP:** 78401
- **BUSINESS PHONE:** 361-239-5449

**MAIL ADDRESS:**
- **STREET 1:** 101 N. SHORELINE BLVD, SUITE 450
- **CITY:** CORPUS CHRISTI
- **STATE:** TX
- **ZIP:** 78401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Encore Energy Corp.
- **DATE OF NAME CHANGE:** 20170301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WOLFPACK GOLD CORP.
- **DATE OF NAME CHANGE:** 20130523

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TIGRIS URANIUM CORP.
- **DATE OF NAME CHANGE:** 20100908

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### Current Report

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): August 11, 2025

## enCore Energy Corp.

#### (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **British Columbia** | **001-41489** | **N/A** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission<br>File Number)** | **(IRS Employer<br>Identification No.)** |

---

---

| | |
|:---|:---|
| **5950 Berkshire Lane, Suite 210,**<br>**Dallas, TX** | **75225** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

#### Registrant's telephone number, including area code: (361) 239-2025

#### Not Applicable

#### (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class:** | **Trading<br>Symbol** | **Name of each exchange<br>on which registered:** |
| Common Shares, no par value | EU | The Nasdaq Capital Market LLC |
|  |  | TSX Venture Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

---

| | |
|:---|:---|
| **Item 2.02.** | **Results of Operations and Financial Condition.** |

---

The following information is intended to be furnished under Item 2.02 of Form 8-K, "Results of Operations and Financial Condition." This information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date of this report, regardless of any general incorporation language in the filing. On August 11, 2025, enCore Energy Corp. (the "Company") issued a press release announcing its financial results for the Company's second quarter ended June 30, 2025. The full text of the press release is furnished herewith as Exhibit 99.1 to this report.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

---

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit** | **Description** |
| 99.1 | [Press Release of enCore Energy Corp. dated August 11, 2025](d35526dex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

#### 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 hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **ENCORE ENERGY CORP.** | **ENCORE ENERGY CORP.** |
|  | By: | /s/ Robert Willette |
|  |  | Robert Willette |
|  |  | Acting Chief Executive Officer and Chief Legal Officer |
| Dated: August 11, 2025 |  |  |

---

## Exhibit 99.1

**Exhibit 99.1**![LOGO](g35526g0811073934532.jpg)

**NEWS RELEASE** 

**NASDAQ:EU** 

**TSXV:EU** 

**August 11, 2025** 

**<u>www.encoreuranium.com</u>** 

**enCore Energy Reports Q2 2025 Financial Results, Highlighted by Increased Uranium Extraction Rates and Reduced Costs** 

**August 11, 2025 – Dallas, Texas – enCore Energy Corp.** (NASDAQ:EU \| TSXV:EU) (the **"Company"** or **"enCore"**), America's Clean Energy Company<sup>TM</sup>, today announced its financial and operational results for the six months ended June 30, 2025.

**Highlights for three months ended June 30, 2025 include:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Three months ended June 30, 2025 net loss per share $(0.03) versus $(0.12) in same period 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sale (delivery) into contract of 60,000 pounds of uranium ("U<sub>3</sub>O<sub>8</sub>") at a sales price of $61.07 and a weighted average cost of $42.23;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Three months ended June 30 U<sub>3</sub>O<sub>8</sub> extraction of 203,798 pounds, an increase of 89,983 pounds or an increase of 79% from the first quarter of 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Closing balance of 244,204 pounds of U<sub>3</sub>O<sub>8</sub> in inventory at a cost of $39.63 per pound;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Closing cash and equivalent balance of $26.9 million with working capital of $30.2 million.

**Highlights for six months ended June 30, 2025 Include:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Weighted average cost of U<sub>3</sub>O<sub>8</sub> sold of $59.42 per pound versus $100.71 per pound in same period 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Delivery of 350,000 pounds of U<sub>3</sub>O<sub>8</sub><sub> </sub>into sales contracts at an average price of $62.58 per pound;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In addition to sales of 350,000 pounds, 72,972 pounds of
U<sub>3</sub>O<sub>8</sub> were transferred to Boss Energy Ltd, the 30% joint venture partner at the Alta Mesa Project;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• No
U<sub>3</sub>O<sub>8</sub> has been, nor is forecasted to be, purchased in 2025.

**Operational Updates:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Improvements in operational efficiency at Alta Mesa In-Situ Recovery
("ISR") Uranium CPP and Wellfield ("Alta Mesa") continued through the second quarter with monthly increases in U<sub>3</sub>O<sub>8</sub>
extraction during the second quarter. Daily production averaged 2,678 pounds per day in June 2025, 2,103 pounds per day in May 2025 and 1,942 pounds per day in April 2025;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wellfield development at the Alta Mesa Project's Wellfield 7 continued to expand throughout the second
quarter with the addition of 75 wells: 35 extraction wells and 40 injection wells. This is part of the ongoing ramp up strategy to advance wellfield expansion every 4 to 5 weeks. Wellfield development has been ongoing at an accelerated rate with a
total of 24 drill rigs in operation across the South Texas operations at the end of the quarter. The Company anticipates increasing the number of drill rigs operating to 30 in the third quarter of 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Important permitting progress during the second quarter was highlighted by the inclusion of the Upper Spring
Creek ISR Uranium Project in the existing Radioactive Materials License ("RML") from the Texas Commission on Environmental Quality ("TCEQ"). This license allows the Company to handle radioactive materials, which includes the
final product, U<sub>3</sub>O<sub>8</sub>. The current RML includes the Rosita ISR Uranium Project, which has now been extended to cover the Upper Spring Creek
Project's Brown Area. The RML allows the construction of wellfields and a Satellite Ion Exchange ("IX") Plant which will provide feed for the Rosita ISR Uranium Central Processing Plant. Construction activities commenced during
the quarter.

**Total Costs of U<sub>3</sub>O<sub>8</sub> Sold in Q2-2025** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Pounds U<sub>3</sub>O<sub>8</sub>** | **Cost in '000** | **Cost/pound** |
|  Total Cost of all Pounds | 350000 | $20796 | $59.42 |
|  <sup>1</sup>Purchased (2024) | 225000 | $15430 | $68.58 |
|  Extracted total cost | 125000 | $5365 | $42.92 |
|  Extracted | <sup>2</sup>cash cost | $3607 | $28.86 |
|  | <sup>3</sup>non-cash cost | $1758 | $14.06 |

---

*<sup>1</sup>* *-lower of actual cost or market price as of end Q2-2025* 

*<sup>2</sup>* *-cash costs of extracted pounds related to cost of goods sold are a metric for investors in evaluating the Company's operations*

*<sup>3</sup>* *-non-cash costs of extracted pounds related to cost of goods sold is an insight into additional expenses that impact overall costs and include depletion and certain sales related fees* 

---

| | | | |
|:---|:---|:---|:---|
| **Inventory Remaining on Hand (end Q2-2025)** | **Inventory Remaining on Hand (end Q2-2025)** | **Inventory Remaining on Hand (end Q2-2025)** | |
|  | **Pounds U<sub>3</sub>O<sub>8</sub>** | **Cost in '000** | **Cost/pound** |
|  Total Cost of Inventory | 244204 | $9678 | $39.63 |
|  <sup>1</sup>Purchased (2024) | 20000 | $1188 | $59.42 |
|  Extracted total cost | 224204 | $8490 | $37.87 |
|  Extracted | <sup>2</sup>cash cost | $6098 | $27.20 |
|  | <sup>3</sup>non-cash cost | $2392 | $10.67 |

---

*<sup>1</sup>* *-lower of actual cost or market price as of end Q2-2025*

*<sup>2</sup>* *-cash costs of extracted pounds related to cost of goods sold are a metric for investors in evaluating the Company's operations*

*<sup>3</sup>* *-non-cash costs of extracted pounds related to cost of goods sold is an insight into additional expenses that impact overall costs and include depletion* 

------

**About the Alta Mesa ISR Uranium CPP and Wellfield ("Alta Mesa Uranium Project")** 

The Alta Mesa Uranium Project hosts a fully licensed and constructed ISR Central Processing Plant and operational wellfield located on 200,000+ acres of private land and mineral rights in and regulated by the state of Texas. Total operating capacity at the Alta Mesa CPP is 1.5 million pounds uranium per year with additional drying capacity of 0.5 million pounds. The Alta Mesa Uranium Project operates under a 70/30 joint venture with Boss Energy Limited which is managed by the Company.

The Alta Mesa CPP historically produced nearly 5 million pounds of uranium between 2005 and 2013 when production was curtailed as a result of low prices. The Alta Mesa Uranium 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 Alta Mesa CPP. Expansion of the wellfield will continue, with extraction to steadily increase from the wellfield as expansion continues through 2025 and beyond.

**About the Upper Spring Creek ISR Uranium Project** 

The 100% Company-owned Project is a planned Satellite ion exchange ("IX") Plant operation for the Rosita CPP. The Project consists of several future potential production units within the historic Clay West uranium district. The Project was previously held by Signal Equities LLC, who previously licensed and permitted the property as an ISR uranium project, maintaining the aquifer exemption and ceased work following continued low uranium spot prices. In December 2020, the Company acquired the Upper Spring Creek Project. The uranium mineralized sands that are associated with the project area lie within the Oakville Formation. These historic uranium producing sands stretch across an area of approximately 120 miles long by approximately 20 miles wide in South Texas. The uranium mineralized ore body at the Upper Spring Creek Project occurs at depths typically between 300 and 450 feet from the surface.

**Rosita ISR Uranium Central Processing Plant** 

The Rosita CPP can receive uranium-loaded resin from remote project areas across the South Texas region through a network of Satellite IX Plants. These Satellite IX Plants, located near wellfields, are a key component of the ISR uranium extraction process. A lixiviant, consisting of groundwater mixed with oxygen and sodium bicarbonate, is injected into the wellfield using ISR technology, where it dissolves uranium from the underground sandstone. The uranium-bearing solution is then pumped to the surface and directed through the IX columns at the nearby Satellite IX Plant, where uranium is absorbed onto resin beads. The uranium-loaded resin is then transported to the Rosita CPP, where the uranium is removed from the resin and processed into yellowcake. Once processed, the resin is recycled and trucked back to the Satellite IX Plants for reuse. These modular, efficient, and relocatable IX Plants allow for cost-effective operation across multiple sites without the need to construct full processing facilities at each location, and they can be relocated once a wellfield is depleted.

------

**Investor Information** 

enCore's interim financial statements, including the accompanying Management's Discussion and Analysis, are available in the Company's Quarterly Report on Form 10-Q, to be filed with the SEC. The report can be accessed at <u>www.sec.gov</u> and on enCore's investor relations page at <u>www.encoreuranium.com</u>. The Company is filing its second quarter Form 10-Q with the U.S. Securities and Exchange Commission ("SEC") today, which includes the Company's consolidated financial statements, for the six months ended, June 30, 2025 and the related notes and financial results.

**Technical Disclosure and Qualified Person** 

John M. Seeley, Ph.D., P.G., C.P.G., enCore's Chief Geologist, and a Qualified Person under Canadian National Instrument 43-101 and S-K 1300, has reviewed and approved the technical disclosure in this news release on behalf of the Company.

**About enCore Energy Corp.** 

enCore Energy Corp., America's Clean Energy Company<sup>™</sup>, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium company with multiple central processing plants in operation. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of In-Situ Recovery ("ISR") uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy.

enCore operates the 100% owned and operated Rosita CPP in South Texas and the 70/30 joint venture with Boss Energy Ltd. with enCore remaining the project manager.

Following upon enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The Company holds other assets including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments.

**Contact:** 

William M. Sheriff

Executive Chairman

972-333-2214

<u>info@encoreuranium.com</u> 

<u>www.encoreuranium.com</u> 

------

***Cautionary Note Regarding Forward Looking Statements:***

*Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.* 

*This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that are based on management's current expectations, assumptions, and beliefs. Forward-looking statements can often be identified by such words as "expects", "plans", "believes", "intends", "continue", "potential", "remains", and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", or "will" be taken.* 

*Forward-looking statements and information that are not statements of historical fact include, but are not limited to, any information relating to statements regarding future or potential extraction, and any other statements regarding future expectations, beliefs, goals or prospects, statements regarding the success of current and future ISR operations, including projects in our pipeline, our development plans, including increases in operational drilling rigs and ongoing ramp up strategies, forecasts relating to uranium purchases, our future extraction plans and expectations and our commitment to working with local communities and indigenous governments to create positive impact from corporate developments should be considered forward looking statements. All such forward-looking statements are not guarantees of future results and forward-looking statements are subject to important risks and uncertainties, many of which are beyond the Company's ability to control or predict, that could cause actual results to differ materially from those expressed in any forward looking statement, including those described in greater detail in our filings with the SEC and on SEDAR+, particularly those described in our Annual Report on Form 10-K, annual information from and MD&A. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with assumptions regarding project economics; discount rates; expenditures and the current cost environment; timing and schedule of the projects, general economic conditions; adverse industry events; future legislative and regulatory developments; the ability of enCore to implement its business strategies; and other risks. A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including without limitation exploration and development risks, changes in commodity prices, access to skilled personnel, the results of exploration and development activities; extraction risks; uninsured risks; regulatory risks; defects in title; the availability of materials and equipment, timeliness of government approvals and unanticipated environmental impacts on operations; litigation risks; risks posed by the economic and political environments in which the Company operates and intends to operate; increased competition; assumptions regarding market trends and the expected demand and desires for the Company's products and proposed products; reliance on industry equipment manufacturers, suppliers and others; the failure to adequately protect intellectual property; the failure to adequately manage future growth; adverse market conditions, the failure to satisfy ongoing regulatory requirements and factors relating to forward looking statements listed above. Should one or more of these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The Company assumes no obligation to update the information in this communication, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company with the various securities commissions which are available online at www.sec.gov and www.sedarplus.ca. Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.* 

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***<u>Non-GAAP Financial Measures</u>***

*This press release contains non-GAAP financial measures. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets or statements of cash flows of the Company. The non-GAAP financial measures used within this press release are total cost of extracted pounds, uranium cost per extracted pound, total cost of extracted inventory and uranium cost per extracted pound in inventory. Total cost of extracted pounds is the cost of sales less the cost of sales of purchased goods, which includes the aggregate purchase price of uranium sourced from purchased uranium. Uranium cost per extracted pound is the total cost of extracted pounds divided by the pounds of uranium extracted during the period. Total cost of extracted inventory is inventory less purchased uranium inventories. Uranium cost per pound of extracted inventory is the total cost of extracted inventory divided by pounds of extracted inventory. We consider the total cost of extracted pounds, uranium cost per extracted pound total cost of extracted inventory and uranium cost per pound of extracted inventory, including allocations of cash and non-cash costs, in evaluating the efficiency and cost-effectiveness of the Company's extraction operations and overall cost structure. The presentation of non-GAAP financial measures should not be considered in isolation or as a substitute for reported results under U.S. GAAP, and may not be comparable to similarly titled measures used by other companies.*