11:40 AM EDT, 04/04/2024 (MT Newswires) -- enCore Energy (EU.V) said Thursday that it has suspended its at-the-market (ATM) controlled equity offering program, with a remaining balance of about US$18.7 million in shares available for sale.

enCore said it does not anticipate further sales under the ATM program as it noted its current cash on hand of about US$80 million as well as zero debt. The company also cited its revenue from ongoing operations at the Rosita in-situ recovery uranium central processing plant and expected near-term production revenue from the Alta Mesa plant.

enCore raised more than US$2 million after issuing 495,765 shares from Jan. 1 to March 31 priced at US$4.05 apiece under its ATM program.

The company's shares were last seen down C$0.20 to C$6.22 on the TSX Venture Exchange.

Price: 6.20, Change: -0.22, Percent Change: -3.43