In this interview, Bill Sheriff, Executive Chair of enCore Energy (NASDAQ: EU | TSXV: EU), discusses the company’s uranium production path, U.S. uranium demand and the changing nuclear fuel market. Bill discusses enCore’s production outlook, permitting challenges, Alta Mesa East, Dewey Burdock, uranium contracting, production costs, and why he sees 2028 as a potential breakout year for the company. The interview also covers the U.S. government’s growing need for domestic uranium supply, uranium prices, nuclear fuel bottlenecks, and enCore’s strategy to expand production in the United States.

🗓️ Recording date: September 30 , 2026

📖 Chapters
00:00 Intro
00:20 — Uranium Market Outlook
01:00 — U.S. Military Needs 4 Million Pounds of Uranium
02:48 — Can U.S. Producers Meet the Government’s Demand?
04:07 — Utilities Are Finally Changing Their Approach to Uranium
05:58 — Could U.S. Government Uranium Command a Premium?
07:06 — Would $150–$200 Uranium Make Sense for the U.S.?
07:49 — enCore Uranium Production Outlook
09:34 — The Path Toward 1 Million Pounds of Annual Production
11:27 — How Much Uranium Does enCore Need to Buy?
13:17 — Production Costs
14:49 — What Is Holding enCore Back From Higher Production?
16:51 — Dewey Burdock & the Cost of Building a New Uranium Plant
19:43 — Why enCore Isn’t Affected by the Sulfuric Acid Shortage
20:31 — Conversion & Enrichment Remain Nuclear Fuel Bottlenecks
21:01 — Why Fast-41 Could Accelerate U.S. Uranium Development
22:22 — Dewey Burdock
23:18 — Contract Deferrals
24:00 — What Happens When a Producer Can’t Deliver Contracted Uranium?
26:32 — The Uranium Price Needed for Contracts
27:30 — Why Spun Out New Mexico Assets Into Verdera
31:47 — enCore’s M&A Strategy & What It Is Looking For
34:27 — Bill Sheriff on enCore’s Stock & His Personal Investment
34:32 — Why 2027 Could Be a Building Year for enCore
35:00 — Why 2028 Could Be a Breakout Year for enCore