12:11 PM EDT, 07/28/2025 (MT Newswires) -- (Updates shares.)

EnCore Energy (EU.V) traded 5% lower at last look Monday as the company reported positive uranium extraction rates at its Alta Mesa Project in Texas.

The company said it increased the number of drill rigs turning in South Texas and shortened the installation time for new injection and extraction wells at Wellfield 7.

As a result, the company said its uranium extraction rates rose to 80,346 pounds in June from

65,188 pounds in May and 15,647 in January.

For the second quarter, EnCore said it extracted 203,797 pounds of uranium extracted at the Alta Mesa operation, up from 113,816 pounds extracted in the first quarter.

Meanwhile, the company promoted Dain McCoig to chief operating officer from senior vice president.

"This is a well-earned and exciting advancement for Dain, who has been instrumental in leading and transforming our operations and expanding our uranium extraction rates," said executive chair William Sheriff. "His steady leadership, deep technical expertise, and relentless focus on safety, efficiency, and execution have been essential to enCore's success and growth."

EnCore shares were last seen down $0.21 to $3.98 on the TSX Venture Exchange.

Price: 3.98, Change: -0.21, Percent Change: -5.01