08:37 AM EST, 03/03/2025 (MT Newswires) -- enCore Energy (EU.V, EU) rose 2.8% in pre-market Nasdaq trading after the uranium producer on Monday said its 2024 loss surged on higher costs and that its chief executive resigned.

The uranium producer said that last year it lost US$61.3 million, or $0.34 per share, compared with a 2023 loss of US$25.6 million, or US$0.18. Revenue rose 163% to US$58 million, the company said. Quarterly results were not disclosed.

enCore said the wider loss came on higher exploration and regulatory costs. It ended the year with US$39.7 million of cash on hand and holdings of 358,408 pounds of triuranium octoxide in inventory.

The company said it is focusing on adding in-situ uranium production from its properties in Texas, South Dakota and Wyoming and advancing regulatory approvals for the projects.

enCore also said it appointed Robert Willette, it chief legal officer, as interim chief executive officer, replacing Paul Goranson. The company offered no explanation for Goranson's departure, only saying he "is no longer serving as enCore's chief executive officer or as a member of the board".

The company's shares were last seen up $0.06 to US$2.58 in premarket trading. They closed up $0.01 to $3.62 Friday on the TSX Venture Exchange.