Latest News: Anfield Energy to Retire Debt and Consolidate Resources in the USA. TSX-V: AEC
Andrew O’Donnell catches up with Corey Dias, CEO of Anfield Energy on their latest press release.
Anfield Energy Announces Transactions to Raise Capital, Retire Debt, and Consolidate Uranium and Vanadium Resources in the USA
Apr 21, 2022
– Retirement of US$18.34 million of outstanding debt held by UEC (and previously U1A), resulting in Anfield now being debt free and UEC becoming the largest shareholder (~16% undiluted ownership).
– The transactions include a swap of UEC’s Slick Rock conventional uranium-vanadium project in exchange for – Anfield’s in-situ recovery uranium projects in Wyoming with an equivalent value.
– As a result of the property swap, Anfield’s portfolio will be refocused around its 100% owned Shootaring Canyon Mill, one of only three licensed, permitted and constructed uranium mills in the USA.
– Consolidation of adjacent uranium and vanadium properties in the historic Uravan Mineral Belt, where Slick Rock produced 2.2 million lbs U3O8 and 13.9 million lbs V2O5 historically between 1957 and 1983.
– Anfield to become a significant vanadium development company in the United States, with resource growth to 26.9 million lbs V2O5 inferred plus an additional 89.6 million lbs V2O5 historic at the combined West Slope and Slick Rock projects1.
– Strong fundamentals underlying uranium and vanadium’s recent rally to 11-year highs. Both metals are crucial to the pursuit of a low-carbon green economy, and both face global supply challenges exacerbated by recent geo-political tensions.