Alta Mesa sale boosts uranium production plans

Energy Fuels Inc’s sale of the Alta Mesa in-situ leach (ISL) project in Texas to enCore Energy will enable both companies to move forward with their uranium production plans. Energy Fuels plans to use funds from the sale to advance its uranium and other projects, while enCore wants to resume Alta Mesa operations as soon as the transaction is complete. The processing plant at Alta Mesa (Image: Energy Fuels) Colorado-based Energy Fuels Inc has agreed to sell three wholly owned subsidiaries that together make up the Alta Mesa project to Texas-based enCore for a total USD120 million – USD60 million cash at closing and USD60 million in a secured convertible note, payable in two years. enCore will also assume all reclamation liabilities associated with Alta Mesa. EnergyFuels acquired the project from Mesteña Uranium in 2016 for about USD13.6 million.

The fully licensed and constructed ISL project and central processing facility […]

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