Bullboard - Stock Discussion Forum enCore Energy Corp EU

Primary Symbol: V.EU

Metals & Mining Industrial Metals & Minerals

enCore Energy Corp. is a clean energy company. The Company is engaged in providing clean, reliable, and affordable fuel for nuclear energy as the uranium producer in the United States. The Company is focused on producing domestic uranium in the United States. The Company only utilizes the In-Situ Recovery technology (ISR) to provide necessary fuel for the generation of clean, reliable, and... see more

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enCore Energy Corp > RBC Notes

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Post by retiredcf on Nov 20, 2024 9:02am

RBC Notes

November 19, 2024

RBC Uranium Watch
Uranium complex rallies on Russia limiting exports to the US

Our view: Uranium equities and the spot price rallied this past week on news of Russia temporarily banning enriched uranium exports to the US (details here). Russia accounts for ~40% of global enrichment, ~15-20% of imports to the US and ~25% in Europe. EUP shipments from Russia must now receive a license in Russia as well as a waiver from the US DOE to approve the transfer. Supply bifurcation was further highlighted with Niger's military junta inviting Russia to invest in its uranium mining sector. Centrus confirmed in an 8-K filed Monday that the Russian government has rescinded the export license of Russian uranium supplier Tenex through December 31, 2025, requiring Tenex to obtain export licenses to meet scheduled deliveries. On US domestic nuclear policy, President-elect Trump reportedly selected Chris Wright, CEO of Liberty Energy, to head up the US DOE. Wright has previously supported expanding nuclear energy in the US and serves on the Board of Directors for Oklo (advanced SMR developer).