Anfield Energy: The Hub & Spoke Uranium Production Strategy

Anfield Energy’s (TSXV:AEC) key asset, the Shootaring Canyon Mill, is one of only two licensed, permitted, and constructed conventional uranium mills in the country. This unique asset is integral to the company’s pursuit of strategically acquired conventional uranium and vanadium projects in Utah, Colorado, Arizona, and New Mexico—areas with a rich history of production.

Shootaring Canyon Mill

Looking at the nuclear fuel cycle, there is a clear pinch point at the milling stage. Uranium buyers and governments are increasingly buying production from the west requiring increasing production from domestic miners.

A key asset in Anfield’s portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only two licensed uranium mills in the United States.

Anfield’s Conventional Uranium Assets

Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah, Colorado, and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Slick Rock Project, the West Slope Project, the Frank M Uranium Project, the Findlay Tank breccia pipe as well as an additional 12 U.S. Department of Energy (DoE) leases in Colorado. All conventional uranium assets are situated within a 200-mile radius of the Shootaring Mill.

A combined NI 43-101 PEA has been completed for the Velvet-Wood Project and the Slick Rock Project. The PEA indicates: 1) a pre-tax project internal rate of return (“IRR”) of 40% and a net present value (“NPV”) of US$238 million; and 2) a post-tax IRR of 33% and an NPV of $197 million, based on a discount rate of 8% and a uranium price of US$70 per pound, along with a vanadium price of US$12 per pound.

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