Anfield Energy Releases Preliminary Assessment for Uranium Project

Anfield Energy (TSX:AEC,OTC:ANLDF,FWB:0AD) has released the results of its preliminary economic assessment (PEA) for its recently-acquired Wyoming-based Charlie uranium project.

As quoted from the press release:

The independent PEA was prepared in accordance with National Instrument 43-101 standards of disclosure for mineral properties.

The PEA is based on mining the uranium deposits via the in-situ recovery (ISR) method and delivering the wellfield solutions via pipeline to Uranium One Inc.’s Christensen Ranch ion exchange facility for initial processing. The resulting loaded resin will be shipped to the Irigaray Central Processing Plant (ICPP) for final processing. The terms under which both the resin capture and processing will take place are found in the Resin Capture and Processing Agreement recently signed between Uranium One and Anfield.

The project area consists of one State of Wyoming mining lease, totaling approximately 720 acres. The current 10-year mineral lease will expire on June 20, 2026 and is renewable under an exclusive right.

Highlights include:

• The PEA shows a pre-tax project Internal Rate of Return (IRR) of 60 percent and a Net Present Value (NPV) of US$18.9 million, based on a discount rate of 8 percent and a uranium price of US$65 per pound;
• Average annual production would be approximately 297,400 pounds of uranium per year;
• Estimated capital expenditure (CAPEX) includes an initial US$6.7 million during pre-production and US$20.8 million in sustaining capital during production for a total life of mine CAPEX of US$27.5 million; and
• Estimated LOM total operating costs of US$23.09 per pound of uranium.

Corey Dias, Anfield CEO, states, “We are extremely pleased with the outcome of this preliminary economic assessment as it underlines both the true potential of the Charlie project and our interest in commencing the process of moving it forward to production. Anfield continues to add shareholder value to its undervalued story through both asset acquisition and development, and the Company’s ability to leverage Uranium One’s existing processing facilities underscores the attractiveness of this project. The Charlie project, with its favourable capital and operating costs, is a realistic investment opportunity as the uranium price heads higher.”

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