Episode Details

Interview with Janet Lee Sheriff, Director & CEO of Verdera Energy

Recording date: 22nd January 2026

Verdera Energy represents a focused opportunity to gain exposure to New Mexico uranium development through the state's largest land holding and most comprehensive data package. The company controls 400 square miles of mineral rights alongside 88 million pounds of historical uranium resources distributed across four in-situ recovery projects, following its strategic spin-out from production-oriented enCore Energy.

New Mexico's uranium credentials provide compelling jurisdictional context. The state accounts for 40% of all uranium produced in the United States and hosts the only commercial enrichment facility in the country, creating existing nuclear fuel cycle infrastructure. As CEO Janet Lee Sheriff noted, New Mexico could be known as the seventh largest uranium producing district in the world.

The $20 million qualifying transaction led by Haywood and SCP Resource Finance at $1.00 per subscription receipt provides substantial working capital relative to typical exploration-stage uranium developers. This financing positions Verdera to simultaneously advance multiple projects rather than pursuing sequential, capital-constrained development. TSXV listing under symbol "V" is expected within weeks following completion of the reverse takeover with POCML7.

Verdera's project portfolio spans various advancement stages, anchored by the Crownpoint-Hosta project's NI 43-101 compliant resource of approximately 28 million pounds. West Largo stands out as the highest-grade ISR project in the United States at 0.3% U₃O₈—substantially exceeding typical ISR deposits operating at 0.05-0.15% grades—with approximately 20 million pounds of historical resources. This exceptional grade potentially offers superior project economics through reduced processing volumes and lower operating costs per pound recovered.

The company's control of approximately 90% of all uranium exploration data in New Mexico creates strategic competitive advantages unavailable to potential competitors. This data consolidation, comprising the majority of URI and Kerr McGee databases, de-risks exploration across existing landholdings whilst enabling identification of additional acquisition or joint venture opportunities using proprietary information.

EnCore Energy's retained 14% stake creates alignment whilst providing access to production-focused technical expertise developed through Texas ISR operations. This partnership proves particularly relevant for Ambrosia Lake, where enCore brings knowledge of satellite central processing plant configurations that could reduce infrastructure requirements.
The investment thesis extends beyond individual project merits to encompass broader domestic supply security dynamics. Despite operating the world's largest commercial reactor fleet with 94 operating units generating approximately 20% of domestic electricity, the United States produces less than 5% of required uranium. The Prohibiting Russian Uranium Imports Act signed in 2024 eliminates a source that previously supplied approximately 20% of US reactor requirements, intensifying focus on domestic production.
Four New Mexico uranium projects now participate in the FAST-41 permitting programme designed to streamline federal permitting for infrastructure projects of national significance. Combined with state-level engagement through the Clean Energy Association of New Mexico, the regulatory environment shows signs of improvement as domestic supply chain priorities intensify.
First-year priorities focus on modernising West Largo's historical resource to current NI 43-101 standards whilst executing drill programmes to expand the resource base. Ambrosia Lake will pursue a dual-track approach combining ISR drilling with permitting advancement, leveraging enCore's technical expertise and the project's historical conventional mining infrastruc