enCore Energy jumps after starting uranium production at Texas plant (NYSE:EU)

enCore Energy (NYSE:EU) +7.1% in Thursday’s trading after announcing the startup of uranium production from its South Texas Rosita ISR Uranium Central Processing Plant, the first step in the company’s production pipeline strategy utilizing the in-situ recovery production process.

Wellfield production patterns are operating, oxygenated water is now circulating through the satellite ion exchange facility and being injected back into the uranium ore body, the company said.

enCore (EU) said it will continue to increase uranium concentration into the satellite IX facility over the coming weeks, and anticipates its first shipment of yellowcake will occur in the next 45-60 days.

“In less than 20 months’ time, the enCore team completed the refurbishment and upgrading of the Rosita CPP from long-term cold standby to monitor well ring installation, wellfield pattern and infrastructure installation, and construction of a new satellite IX facility,” CEO Paul Goranson said.