This year’s conservative pick is in a sector that just hit a 16-year high and one that I see primed to continue surging to new all-time highs, uranium. The company is enCore Energy (EU), the newest uranium producer in the United States, says Gerardo del Real, editor of Junior Resource Monthly.
enCore solely utilizes In-Situ Recovery ("ISR") for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy. The technology leads to lower quartile costs and the assets could not be in a better jurisdiction.
The timing is perfect. In-Situ Recovery extracts uranium in a non-invasive process using natural groundwater and oxygen, coupled with a proven ion exchange process, to recover the uranium.
Uranium production commenced at enCore’s licensed and past-producing South Texas Rosita Central Processing Plant (CPP) in November 2023 and at its licensed and past-producing South Texas Alta Mesa CPP in 2024.
Future projects in enCore’s production pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming, along with significant uranium resource endowments in New Mexico providing long-term opportunities.
With geopolitical uncertainty continuing to be a major factor, the strategically located assets are a big plus. That’s especially true when combined with becoming the newest US uranium producer at a time that the US is looking to bolster uranium reserves and establish an independent critical metals supply chain. They make enCore a great speculation for 2024.
Add to that a raging hot uranium sector and you have the perfect storm for new all-time highs in 2024.
