| Account | Shares | Price | Value | % of acct | Cost/sh | Gain $ | Gain % | Target |
|---|---|---|---|---|---|---|---|---|
| 401K | 1,666 | $1.27 | $2,116 | 0.09% | $1.21 | $102 | +5.0% | — |
In short: His own company, so an executive chairman's book. Idled after exhausting its first Alta Mesa wellfield and a TCEQ permit snafu, but Upper Spring Creek is "built and paid for," the Wellfield 3 extension needs "essentially no capex" and Wellfield 8 is ~¾ built — all awaiting permits to "flip the switch," with production later this year / first part of next and "a great 27." Dewey-Burdock (20M+ lb) and Alta Mesa East target 2028; contracts are floor-and-ceiling collars; the $750M shelf is merger currency.
enCore mines uranium in South Texas using in-situ recovery (ISR): instead of digging a pit, it pumps oxygenated water through the underground rock, dissolves the uranium, and pumps the solution back up to a processing plant. Each "wellfield" is a grid of those wells that eventually runs dry. enCore's first wellfield at Alta Mesa has done exactly that after yielding over a million pounds, and the permits for the next ones arrived late because of a problem with the Texas environmental regulator — so the company is currently producing nothing.
Sheriff's case is that this is a short, already-paid-for gap. Three new production areas are built or nearly built — one of them, Upper Spring Creek, is fully paid for — and simply need permits to "flip the switch," which he expects later this year or early next, adding that relations with the regulator have turned cooperative. Beyond that sit two bigger growth projects aimed at 2028: Dewey-Burdock in South Dakota (over 20 million pounds, which cleared a 15-year federal permitting logjam in under a year) and Alta Mesa East next door to the existing plant.
Two other points shape the stock. Its sales contracts are "collars" — a guaranteed minimum price near today's spot and a ceiling 30–50% higher, adjusted for inflation — so revenue has a floor but keeps some upside. And the company filed to raise up to $750 million even though it says it doesn't need cash; Sheriff wants shares available as currency for mergers, because big funds won't buy uranium companies this small. This is the executive chairman talking about his own company, so weigh it accordingly.
16:08— Sure. Well, I think once we've got a very firm line on our permitting for the three new production areas, Upper Spring Creek, which is built and paid for, by the way, it's already expensed. It's simply awaiting a permit to quote flip the switch. Our Wellfield 3 extension at Altameasa, same way, it's built, piped directly into the plant, essentially no capex, sustaining capital is to drill the wellfield out, but it's ready to go, waiting on the permit, flip the switch. And then Wellfield 8 is
In short: "There was no news to report on." Held Texas ISR producer; cost basis C$2.81, 100% allocated.
Full passage: premium transcript (PDF).
In short: The buyer in his best uranium exit: Blake Steele permitted Azarga's Dewey Burdock ISR and sold the whole company to enCore — "one of my big wins." Referenced as an exit, not rated.
22:43So, and the person that's on the board there that's a good friend of mine, Blake Steel. Brooke runs the company and he's a very accomplished geologist ex Freeriellandeland but Blake ran a company for me called or not for me I was a large shareholder in a company called the Zara uranium where he put the Dewey Berdick ISR on track to be permitted and he was able to sell the whole company to Encore one of my big wins. So I have a lot of time for Blake.
In short: NRC granted a 20-year renewal on Dewey Burdock's source-materials licence — enCore now holds every federal permit; South Dakota state permits (deemed complete, held pending federal appeals) and funding the build off ~$85m liquidity and sub-term Texas realizations are the open questions.
enCore is a US in-situ-recovery uranium producer in Texas, with Dewey Burdock in South Dakota as its growth project. The milestone this issue: the NRC renewed Dewey Burdock's source-materials licence for 20 years (to 2046), and with the BLM also authorizing construction on the public land inside the boundary, enCore now holds every federal permit the project needs — the end of a 12-year permitting saga that survived tribal and appeals-board challenges.
Two things still stand between the permit and a mine. First, South Dakota's state permits (deemed complete and recommended for conditional approval, but held pending the federal appeals outcome). Second, and the bigger one, money: the January-2025 study pegs ~$264m of capex, and enCore's ~$85m of liquidity plus Texas production sold at sub-term prices ($67.78/lb realized in Q1) won't build South Dakota on their own. So the permit is a genuine de-risking, but funding the build is the open question.
Full passage: premium transcript (PDF).
In short: Alta Mesa East ISR project and Dewey Burdock continue to advance — enCore moves toward domestic US uranium production as utilities re-open long-term contracting windows.
enCore is a US-based ISR uranium producer with assets in Texas (Alta Mesa East) and Wyoming (Dewey Burdock). ISR is the same in-situ dissolution technology Denison is trying at Wheeler River — except enCore is already doing it commercially, making it one of the very few domestic US uranium producers. That matters because Washington's push to rebuild a domestic uranium supply chain — and reduce dependence on Russian or Kazakh enrichment — gives US-soil producers a strategic positioning that foreign-hosted names cannot match.
Alta Mesa East and Dewey Burdock are both advancing; as they come online they add production pounds that simply do not exist elsewhere in the US today. Mart holds at a cost basis of C$2.81, 100% allocated, watching the production ramp as the primary near-term catalyst. Alta Mesa East + Dewey Burdock news this issue is constructive — both projects moving through development milestones on schedule.
Full passage: premium transcript (PDF).
In short: Alta Mesa East initial holes confirmed uranium mineralization 3,700+ feet east of nearest existing wellfield (10 of 17 holes mineralized, most above the 0.3 GT economic threshold); Upper Spring Creek satellite IX plant Phase 1 running at 1,600 gpm, doubling to 3,200 gpm targeted by end of July.
enCore mines uranium in south Texas using in-situ recovery (ISR) — you dissolve the uranium underground and pump it up as a solution, no digging required. They own a very large land package called Alta Mesa, and they just started drilling a newly acquired 5,900-acre extension directly to the east called Alta Mesa East. The first 17 drill holes came back encouraging: 10 of 17 hit uranium mineralization, and most came in at grades above the economic threshold enCore needs for a productive wellfield, with the mineralization sitting in the same geological sands the existing plant already processes.
At the same time they completed Phase 1 of their largest-ever satellite ion exchange plant at Upper Spring Creek — it's now running at 1,600 gallons per minute, with a doubling to 3,200 gpm targeted by the end of July. This satellite plant feeds processed resin to the Rosita processing facility. Put it together: they are drilling to extend the ore body to the east while simultaneously building the infrastructure needed to process it. The gating factors are drilling results and permitting, but on both fronts enCore is making measurable progress this issue.
Full passage: premium transcript (PDF).
In short: No company-specific news this issue; held in the Codex portfolio.
Full passage: premium transcript (PDF).
Nothing matches this filter.
Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.