enCore Energy, identified by the ticker EU, has received approval from the Texas Commission on Environmental Quality to incorporate the Upper Spring Creek In-Situ Recovery Uranium Project into its existing Radioactive Materials License (RML). This inclusion allows enCore Energy to manage uranium U3O8 as part of the radioactive materials covered under the license. Previously covering the Rosita Uranium Project, the RML has now been extended to include the Upper Spring Creek Project's Brown Area.
This expanded license permits the initiation of wellfields and a Satellite Ion Exchange Plant to supply the Rosita ISR Uranium Central Processing Plant. The RML is set for renewal in 2032, given that the operation complies with regulations. It outlines protocols for safety, material management, record-keeping, and reporting. The company's plans include starting the concrete pad construction for the Satellite IX Plant within 30 days.
enCore Energy now possesses two RMLs in Texas. Besides the newly amended license, which includes Upper Spring Creek, Rosita, and Kingsville Project areas, it holds another RML for the Alta Mesa ISR Uranium Project.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for enCore Energy Corp (EU, Financial) is $4.44 with a high estimate of $5.00 and a low estimate of $2.75. The average target implies an upside of 109.32% from the current price of $2.12. More detailed estimate data can be found on the enCore Energy Corp (EU) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, enCore Energy Corp's (EU, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
