FULL DISCLOSURE: The Deep Dive is long the equity of Anfield Energy.
Anfield Energy (TSXV: AEC) is set to formally launch construction activities for the Velvet-Wood uranium-vanadium mine in San Juan County, Utah. The company this morning revealed the decision to move forward with construction following the announcement of a planned ground breaking ceremony on November 6.
The decision to proceed with construction follows the receipt of federal permits in May, and state approvals in early October. Initial activities for the construction of the mine include the reopening of the historic mine portal, dewatering underground workings, building surface facilities and advancing a new incline for ore extraction.
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Once operational, ore mined from Velvet-Wood will be processed at Anfield’s nearby Shootaring Canyon Mill, which is one just three licensed conventional uranium mills in the United States. License upgrades at the mill meanwhile aim for 3 million pounds of annual processing capacity.
READ: Anfield Energy Receives State Approvals For Velvet-Wood Mine, Groundbreaking Expected Within 30 Days
“Building on the Trump Administration’s visionary Executive Orders—from reinvigorating the nuclear fuel cycle to expanding the workforce—Velvet-Wood positions us to supply uranium for clean energy, medical isotopes, and naval propulsion, while vanadium strengthens infrastructure and aerospace,” commented Corey Dias, CEO of Anfield Energy.
“With uranium consumption at 50 million pounds annually and domestic output under 1%, projects like ours are essential to energy dominance. [..] The PEA forecasts a pre-tax NPV8% of US$238M and IRR of 40% at US$70/lb U3O8 and US$12/lb V2O5, affirming strong potential amid rising commodity prices.”
Anfield Energy last traded at $10.00 on the TSX Venture.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Anfield Energy. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
