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enCore Energy to Acquire Westwater Resources Uranium Assets

Mining News - Published on Mon, 14 Sep 2020

Image Source: enCore Energy Westwater Resources Uranium
enCore Energy Corp announced that effective September 1, 2020 it has entered into a binding letter of intent with Westwater Resources Inc to acquire all of Westwater’s United States uranium assets. These assets include two two licensed Texas-based uranium production facilities, mineral exploration leases in Texas, and more than 270 square miles (180,000 acres) of patented mineral rights in New Mexico with four projects containing significant historical mineral estimates. This acquisition will more than double the Company’s current mineral rights and holdings with historical mineral estimates, and add two already licensed uranium production facilities.

William M. Sheriff, Executive Chairman of enCore Energy stated, “This transformational acquisition will on completion be the first significant step building enCore into a domestic uranium producer. Our experienced and accomplished management team believes that a major change is coming in the uranium market in the next 12 to 24 months. In addition to the key acquisition of licensed production facilities in Texas, enCore will hold the leading land position in New Mexico, consolidating the large Santa Fe and Frisco railroad “checkerboard” mineral rights land grant running through most of the Grants mineral belt.

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Posted By : Yogender Pancholi on Mon, 14 Sep 2020
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