Anfield Resources (TSX-V:ARY, StockForum), a Vancouver-based company engaged in the identification, acquisition and exploration of mineral properties in the US and Chile, announced today that the company had been issued nine mineral leases on Utah State Trust Land.
The leases total approximately 5,500 acres (2,225 hectares) and are spread across three uranium mining districts in southeastern Utah. All of these leases lie within 100-mile radius of White Mesa Mill, the only currently active standard uranium mill in the US.
According to the news release, “Utah has historically been one of the top Uranium producing states, with the majority of production coming from the uranium mining districts concentrated in the southeastern part of the state.”
Corey Dias, Anfield CEO, commented, “We are pleased to have been issued these leases as they complement our recently acquired Uranium assets in Utah."
Dias continued, "The Company now controls over 8,100 acres across several uranium mining districts. Within that acreage are a significant number of past-producing mines. This transaction advances our strategic objective of opportunistically acquiring undervalued assets to pursue near-term production and revenue generation via toll milling, a production strategy successfully followed at our Chilean copper asset.”
He then summed up, “We continue to believe in the likelihood of a shortfall in uranium raw materials due to the combination of two factors: the number of nuclear reactors proposed, planned or under construction worldwide - which would more than double the current number of operating reactors - and the recent expiration of the 20-year HEU agreement between the US and Russia.”
Anfield Resources was in the news recently when the company made a private placement deal following a uranium acquisition.
Shares were down 7.41% on the news to $0.25 per share.
Currently there are 8,595,722 shares outstanding with a market cap of $2.15 million.