07:56 AM EST, 11/04/2024 (MT Newswires) -- enCore Energy (EU.V) on Monday provided its contracting strategy and five-year forward outlook regarding its uranium sales agreements.

The company said that as of Oct. 31, it has executed seven contracts to supply uranium to nuclear power plants in the U.S. It also holds one legacy contract with a uranium trading company.

enCore noted that its contracting strategy outlook represents its annual contracted sales only, and provides significant exposure to future spot uranium prices on a percentage of its future planned production.

Each of these sales agreements have varied delivery and pricing mechanisms that fit enCore's requirements and enCore's customer's requirements," CEO Paul Goranson said. "As the uranium markets have strengthened, we have been able to secure better terms with the execution of each new sales agreement."

enCore's share price fell 3.5% last Friday to $5.31 on the TSXV.