EnCore Energy is acquiring the Alta Mesa uranium operations in south Texas and is positioned to become the leading company focused on US domestic uranium production.
▪ Fully licensed past-producing In-Situ Recovery (ISR) uranium plant & existing resource located 80 miles from the Rosita plant and 75 miles from the Kingsville Dome plant is now owned by enCore Energy;
▪ Provides 3rd licensed plant doubling enCore’s short-term production capacity to 3.6 mm pounds/year;
▪ Total operating capacity of 1.5 mm pounds of uranium/year; 2 mm pounds/year drying capacity, flow capacity of 7,500 GPM using upflow IX, a downflow polishing IX, inplaceelution, and two rotary vacuum dryers;
▪ Adds 3 mm pounds Measured and Indicated Resource and 16 mm pounds Inferred Resource, significantly increasing total enCore resources;
▪ 200,000 acres of private land in South Texas uranium belt with exploration opportunities;
▪ Maintained in a state of readiness by previous owner, Energy Fuels, to rapidly resume production;
▪ enCore will own and control 3 of the 4 licensed ISR uranium plants in Texas, a known and safe ISR uranium jurisdiction. There are currently 11 licensed ISR plants in the United States;
▪ The capacity of all three of enCore’s Texas production facilities can be expanded by
upsizing equipment without permitting or license limitations.
The Opportunity: Alta Mesa Asset Acquisition
In addition to a fully licensed past-producing ISR uranium operation:
▪ US$150M+ historically spent by Mesteña Uranium LLC and Energy Fuels,
▪ ~5 million pounds of past production
▪ Radioactive Materials License with the Texas Commission on Environmental Quality, a Class III Underground Injection Control Permit from TCEQ
▪ Facility previously operated by Paul Goranson
▪ ~200,000 acres of exploration area with existing resources
▪ Mesteña Grande projects: “Goliad”, “Oakville North”
“Oakville Central” and “Alta Vista”
▪ Exploration upside at Catahoula Formation: “El Sordo” and “Indigo Snake” projects
▪ Abundant exploration upside exists within the Alta Mesa land package around existing defined resource areas, which enCore will prioritize concurrent with production restart initiatives post-closing
▪ 52 linear miles of stacked uranium roll-front identified on the Alta Mesa property, of which only 5 miles explored to date.
History: Alta Mesa Project
Exploration & Production
▪ 2006 – construction and commercial start
▪ Expanded in 2008 – increased production capacity to 2 mm pounds per year:
• Developed a commercial molybdenum recovery circuit. (patent pending)
• Increased ion exchange to 1.5 mm pounds/yr and drying capacity to 2 mm pounds/yr
▪ Produced from 2006 to 2013, when commercial operations were put in standby
▪ PAA 7 is fully approved (1.7 mm pounds U3O8) ready to start production w/12-month timeline
▪ Mesteña spent approximately $5 million over 3 years to explore the area covered by the mineral leases.
This area had never been explored by any uranium company:
• Oil and gas wells drilled on the ranch that were logged to the surface, and 3-D seismic data that was processed to 1,000 feet from surface
• Identified shallow Goliad Formation deposits in the north
• Extended the Goliad Formation resources around the existing mining lease
• Discovered a massive and deeper reduction-oxidation (redox) Oakville Formation sandstone deposit that traced 52 miles along a multiple trend redox contact, and
• Discovered a significant stacked gamma system in the Catahoula Formation near the Vicksurg Flexture fault system
Managed & Built by I2M Consulting, LLC | © 2010-
