EnCore Energy (EU) said Tuesday the US Nuclear Regulatory Commission issued a 20-year renewal of the source materials license for the Dewey Burdock in-situ recovery uranium project in South Dakota.

The project has now received all required federal permits, but remains subject to additional permitting by the South Dakota state. EnCore has started permitting efforts with the state, the company said.

EnCore shares were up 7.3% in premarket activity.