07:56 AM EDT, 10/24/2024 (MT Newswires) -- enCore Energy (EU.V) said Thursday that it achieved a key milestone for the planned production expansion at the South Texas Alta Mesa in-situ recovery uranium central processing plant and wellfield.

The company said it is now nearing flow capacity at the first of the plant's three ion exchange circuits, each with a capacity of 2,500 gallons per minute (gpm). The three IX circuits can provide dissolved uranium in groundwater to the plant from multiple wellfields simultaneously.

enCore commissioned the first IX circuit in June. The second circuit is expected to begin operation in the first quarter of 2025 and the third circuit is scheduled to be online by the end of next year.

The company added that it has expanded the Wellfield 7 from 27 injection and 34 recovery wells to 46 injection and 52 recovery wells while bringing the flow rate up to 2,100 gpm.

enCore's share price fell 7.3% yesterday to $5.50 on the TSXV.