Anfield Energy next steps:
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Anfield Energy Inc.
VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- Anfield Energy, Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce it has submitted its production reactivation plan for the Shootaring Canyon mill to the State of Utah’s Department of Environmental Quality (UDEQ). This major milestone is critical to restarting uranium production at Shootaring. The plan addresses the updating the mill’s radioactive materials license from its current standby status to operational status and the increasing of both throughput capacity and the tripling of licensed production capacity. Following approval of the reactivation plan and mill refurbishment, Anfield will be able to both recommence uranium production and start vanadium production in 2026 -- joining a select group of North American and U.S. uranium producers meeting the resurgence in uranium demand.
The plan outlines an increase in mill throughput capacity to 1,000 tons per day from 750 tons per day and an increase in annual uranium production capacity to 3 million pounds from 1 million pounds.
“Finally, the installation of Doug Beahm as Chief Operating Officer (COO), bringing with him a wealth of experience in progressing assets to production, means Anfield will have the right permitted assets in the right place, at the right time, with the right production-focused leadership. The uprating of Anfield's status to production-ready will also be a strong case for an uprating in Anfield’s valuation and share price to be much more in line with Anfield’s peers.”
Next Steps
Early-stage refurbishment of Shootaring will take place during the review of the restart application, preparing the Company to complete refurbishment as soon as the restart application is approved. The Company is targeting the mill restart in 2026.
With the application submitted to the UDEQ, the Company can prepare for uranium mill and tailings refurbishment and vanadium circuit construction. Steps include: the rough grading of the tailings pond cell area in advance of cell design approval; the moving of ore stockpiles and remediation of sections of the restricted area to establish a new radiation control boundary; the building of a new ore dump wall and transportation roads, along with a truck wash station; the demolition of all infrastructure to be replaced (e.g., electrical, controls, leach tanks); the installation of new generators, acid tanks and fuel tanks; the construction of the vanadium circuit building and counter-current decantation (CCD) circuit footers; the building of new ore pads where Velvet-Wood ore can be stockpiled in anticipation of mill restart; and the ordering of tanks and vessels needed for processing circuits, having equipment onsite and ready to install once the license is approved.``