Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT:
0AD) (“Anfield” or “the Company”) is pleased to
provide a corporate update with regard to its operations.
Despite the continuing challenges created by
COVID-19, Anfield remains committed to achieving its goal of
uranium production with its solid asset portfolio providing a clear
and compelling path forward.
During 2021, Anfield has advanced its plans to
improve its market position, as outlined below:
• Raised approximately $4.8 million in
equity and received $7.5 million through warrant
exercises
Anfield raised approximately $4.8 million in
equity in 2021 and received approximately $7.5 million through
warrant exercises. Not only has this allowed Anfield to complete
additional work associated with its Charlie project, it has also
allowed the Company to replace the US$2.4 million of surety bonds
for its West Slope properties and fund the required increase to its
US$11.3 million reclamation bond for the Shootaring mill. Anfield
closed the year with $4.9 million on its balance sheet.
• Engaged BRS Engineering to assess
Anfield’s Taylor Ranch ISR project in Wyoming
Anfield engaged BRS Engineering to assess the
potential of the Company’s Taylor Ranch project. Under
consideration by BRS are plans to delineate a resource and
determine economics from historical work done on the property by
previous owners, along with the potential of resource confirmation
and expansion through a drill program.
Corey Dias, Anfield’s CEO commented: "2021 began
as a challenging year in the uranium sector; however, as the year
progressed there was positive movement in the commodity price and
overall sentiment. Further, nuclear energy is being increasingly
seen as essential to providing baseload electricity and providing a
critical part of the clean energy mix in both North America and
Europe. New generation small modular reactors (SMRs) with shorter
lead times and lower capital requirements are reducing investment
constraints. Moreover, the entry into the market by the Sprott
Physical Uranium Trust – following ongoing spot market purchases by
both large uranium-producing incumbents, Cameco and Kazatomprom -
brought a new dimension to the strategic importance of the uranium
spot market and highlighted the potential vulnerability of spot
market dependence by utilities. Finally, the recent unrest in
Kazakhstan and heightened tension between Russia and the West serve
as a reminder of the importance of stable mining jurisdictions and
assured uranium supplies. Given favorable trends in both the
uranium market and the nuclear sector and given increasing focus on
supply stability, we are confident of a continued upswing in
uranium prices.
We believe that recent market events provide
Anfield with an opportunity to further position itself as a
strategic player in the U.S. uranium market. Anfield’s asset
portfolio, consisting of both near-term and longer-term
opportunities, underscores its significant unrealized value. This
portfolio includes, among other assets, the outstanding Charlie ISR
project and the conventional uranium asset portfolio underpinned by
the Shootaring mill. We feel we are well positioned to thrive in
the upcoming uranium bull market.”
About AnfieldAnfield is a uranium and vanadium
development and near-term production company that is committed to
becoming a top-tier U.S. energy-related fuels supplier by creating
value through sustainable, efficient growth in its assets. Anfield
is a publicly-traded corporation listed on the TSX-Venture Exchange
(AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock
Exchange (0AD). Anfield is focused on two asset centers, as
summarized below:
Wyoming – Irigaray ISR Processing Plant (Resin Capture
and Processing Agreement)Anfield has signed a Resin
Capture and Processing Agreement with Uranium One whereby Anfield
would process up to 500,000 pounds per annum of its mined material
at Uranium One’s Irigaray processing plant in Wyoming. In addition,
the Company can both buy and borrow uranium from Uranium One in
order to fulfill some or all of its sales contracts.
Anfield’s 24 ISR mining projects are located in
the Black Hills, Powder River Basin, Great Divide Basin, Laramie
Basin, Shirley Basin and Wind River Basin areas in Wyoming.
Anfield’s three projects in Wyoming for which NI 43-101 resource
reports have been completed are Red Rim, Nine Mile Lake and
Clarkson Hill.
The Charlie Project, Anfield’s flagship ISR
uranium project, is located in the Pumpkin Buttes Uranium District
in Johnson County, Wyoming. The Charlie Project consists of a
720-acre Wyoming State uranium lease which has been in development
since 1969. A NI 43-101 Preliminary Economic Assessment has been
completed for the Charlie Project.
Arizona/Utah/Colorado – Shootaring Canyon MillA
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 three
licensed, permitted and constructed conventional uranium mills in
the United States.
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 Frank M Uranium Project, the West Slope
Project as well as the Findlay Tank breccia pipe. A NI 43-101
Preliminary Economic Assessment has been completed for the
Velvet-Wood Project. The PEA is preliminary in nature and includes
inferred mineral resources that are considered too speculative
geologically to have economic considerations applied to them that
would enable them to be categorized as mineral reserves, and there
is no certainty that the preliminary economic assessment would be
realized. All conventional uranium assets are situated within a
200-mile radius of the Shootaring Mill.
On behalf of the Board of DirectorsANFIELD
ENERGY INC.Corey Dias, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.Contact:Anfield Energy, Inc.Clive
MostertCorporate
Communications780-920-5044contact@anfieldenergy.comwww.anfieldenergy.com
Safe Harbor StatementTHIS NEWS RELEASE CONTAINS “FORWARD-LOOKING
STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY
HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY
STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS
REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED
HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN
FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND
UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY
FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR
IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL
FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR
THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,”
“PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING
STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT
ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION
AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT
ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER
PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS
INCLUDE RISKS ASSOCIATED FUTURE CAPITAL REQUIREMENTS AND THE
COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND
DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE
COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL
ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING
STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE
COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING
STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD
DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.
ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS
AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE
CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR
INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL
OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE
RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM
TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY
MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS
CONTENTS.
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