08:58 AM EDT, 06/13/2024 (MT Newswires) -- EnCore Energy (EU) said Thursday it has restarted production at the Alta Mesa Uranium central processing plant and wellfield.

The initial ramp-up will progressively increase uranium production, with the first yellowcake shipment expected in 60 to 90 days, the company said, adding that the project is on track for full capacity by 2026.

Separately, enCore said it plans to grant incentive stock options to certain directors, officers and consultants to purchase up to 1.7 million shares at the closing price on the TSX Venture Exchange on June 13. The options are effective for five years and will vest over 24 months, with 25% vesting every six months, enCore said.

EnCore shares were more than 3% higher in premarket trading.

Price: 3.9700, Change: -0.07, Percent Change: -1.73