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A Uranium Opportunity to Capitalize on this Valued Resource

Stockhouse Editorial
0 Comments| August 17, 2020

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(Project map via Anfield Energy Inc.)

Anfield Energy Inc. (TSX-V: AEC, OTCQB: ANLDF, Forum) is a uranium and vanadium development Company pursuing Click to enlargenear-term production. Anfield is working to become one of the top-tier energy-related fuel suppliers as it creates value through the sustainable and efficient growth of its two asset centres:

Wyoming – Irigaray ISR Processing Plant (Resin Capture and Processing Agreement)

Anfield’s initial uranium production plans are based on its mine-and-mill complex in Wyoming. Anfield’s flagship uranium operation is the Charlie Project, located in the Pumpkin Buttes Uranium District in Johnson County. A 2.9 sq. km. (720-acre) uranium lease, the area has been in development since 1969 and a Preliminary Economic Assessment (PEA) has been completed for the Charlie Project.

The project offers an Indicated Mineral Resource of 1,255,000 tons with an average grade of 0.123% eU3O8 (equivalent to an Indicated Resource of 3,100,000 pounds of eU3O8); and an Inferred Mineral Resource of 411,000 tons with an average grade of 0.12% eU3O8 (equivalent to 988,000 pounds of eU3O8).

Through a Resin Capture and Processing Agreement with Uranium One, Anfield would process up to 226,000 kg. (500,000 lb.) per annum of its mined material at Uranium One’s Irigaray ISR Processing Plant. On top of this, the Company can buy and borrow uranium from Uranium One in order to fulfill some or all of its sales contracts.

The Company’s other two dozen in situ recovery (ISR) projects can be found in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in around the state. The three projects which have had NI 43-101 resource reports completed are Red Rim, Nine Mile Lake and Clarkson Hill.

Arizona/Utah/Colorado – Shootaring Canyon Mill

The Shootaring Canyon Mill is the Company’s other key asset, situated in Utah, one of the most prolific uranium production areas in the United States. It is also one of only three licensed, permitted and constructed conventional uranium mills in the country.

. Along with Shootaring, Anfield holds conventional uranium mines (situated within a 200-mile radius of the Shootaring Mill) which include the Velvet-Wood Project, the Frank M Uranium Project, the West Slope Project as well as the Findlay Tank breccia pipe. An NI 43-101 Preliminary Economic Assessment has been completed for the Velvet-Wood Project.

In addition to this, the Company also has conventional uranium assets, including mining claims and state leases in Colorado and Arizona.

Stockhouse Editorial recently caught up with Anfield Energy’s Chief Executive Officer, Corey Dias, to find out more about the Company’s wide array of assets, and its recently initiated private placement.

  1. Thank you for joining us today. Your private placement is on now, can you tell us about what these funds are earmarked for?

Thank you. We are currently raising funds for both preliminary work at our Charlie project, along with general corporate purposes.

  1. The US government’s proposal to create a strategic uranium reserve offers a lot of potential for Anfield Energy, can you speak to what having dedicated, improved domestic market means for you, and the industry as a whole?

The US market is the largest consumer of uranium worldwide, but most of that material is sourced from non-domestic suppliers. With the introduction of a strategic uranium reserve, there will be a market into which domestic suppliers can sell a portion of their uranium production. In addition, the proposed price point at which the US government would purchase material would be high enough to provide a margin high enough to make such production economically viable.

  1. A hot-button political issue has been the government’s proposed plan for uranium mining in and around the Grand Canyon. Would this have any effect on your Arizona assets?

Because our focus is on our In-Situ Recovery uranium assets in Wyoming, the government’s plans for Arizona have little effect on us.

  1. Investors are expecting a lot out of the future implications for the value of uranium, do you have any inside-insight into where this resource is headed?

Uranium is a fairly opaque market, but it is clear that the supply demand imbalance is right in front of us. With the shuttering of mines, the lack of new supply coming online due to a uranium price which doesn’t justify production, along with increased demand from new reactors being built worldwide, the market is due for a correction. The biggest question becomes, when does this correction occur? There is an expectation that the next 12 months will provide that answer.

  1. As the coronavirus shut down economies and mines around the world, the largest uranium producers were included in those shutdowns and a supply glut turned into undersupply and expected shortfalls seemingly overnight, what has your experience been in this regard?

I have been watching the market, as have many others, and I believe that it was a reminder as to how dependent the uranium market is on a handful of suppliers at the moment. Certainty of supply and delivery is becoming more and more important, especially given the effect of coronavirus.

  1. Your recently acquired Charlie Uranium Project is anticipated to place Anfield in a strong position for potential future production, can you elaborate a bit on your expectations for this project?

Yes, we acquired Charlie in 2019. It sits in between two of Uranium One’s existing mines, and both have produced uranium in recent years. This means that there is existing infrastructure in place to produce uranium. As a result of its Resin Capture and Processing Agreement in place with Uranium One, Anfield is able to use the existing infrastructure in order to produce uranium from Charlie, and that is why the pre-production costs of US$6.7M is so low. In addition, Anfield will be able to leverage Uranium One’s expertise with regard to moving the asset towards production as Uranium One is already familiar with producing next door.

  1. Looking into the near future of the Company, can you shed some light on what investors can expect in the next six to 12 months?

Anfield will continue to advance Charlie as it will be the first producing asset in Anfield’s project portfolio. In addition, Anfield will continue to create a pipeline of follow-on projects in Wyoming to which it will turn once Charlie has been depleted. Of note, Anfield has 24 other projects in Wyoming, and the aim is to establish a long-term mine-and-mill complex there which is underpinned by the Resin Capture and Processing Agreement in place with Uranium One.

  1. Thanks again for taking the time to speak with us, anything further to add?

I would just like to say that Anfield is a unique story, one with two potential paths to production. Our next-term focus on ISR projects in Wyoming, underpinned by our agreement with Uranium One. However, the “blue sky” opportunity with Anfield lies with is conventional mine-and-mill complex in Utah and Colorado, underpinned by Anfield’s Shootaring Canyon Mill. Should uranium prices continue to climb, it will present an opportunity to turn on the mill and create another production hub for the Company. We see plenty of upside in the Anfield story.

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.

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