From the Energy Report, Valuable online real estate...Anfield Resources Inc. (ARY:TSX.V; ANLDF:OTCQB) is a dual-commodity play focused on uranium and copper in the U.S and Chile. Anfield has been quietly accumulating uranium assets over the past year, buying in a seller's market. However, news that it's acquiring Uranium One Inc.'s (UUU:TSX) conventional uranium resources, and the licensed and permitted Shootaring conventional uranium mill, is a game-changer for the company.
This transaction elevates Anfield into the same league as well-known U.S. in-situ recovery uranium players, like Uranium Energy Corp. (UEC:NYSE.MKT), Uranerz Energy Corp. (URZ:TSX; URZ:NYSE.MKT) and Ur-Energy Inc. (URE:TSX; URG:NYSE.MKT). Each of these peer companies has enterprise value (EV) ranging from CA$150 million to CA$175 million (CA$150M–175M). By contrast, Anfield, with just 20M shares outstanding, has an EV of about CA$8M.
Anfield's stock is an excellent, high-beta play on a rebound in uranium prices, and it comes with a free option on a potentially valuable copper segment, which I believe could be spun off next year. Anfield, by the way, is not in production yet, but it could be in production by early 2016. [Editor's Note: Epstein's comments on Anfield Resources were added after news of the Shootaring acquisition was released on Aug 18.]