Impact: Positive
Anfield has agreed to acquire a 100% interest in 12 Department of Energy (DOE) leases in Colorado in a US$6M deal. The acquisition aligns with Anfield’s strategic objective of increasing production capacity at its Shootaring Canyon mill from 750 tpd to 1,000 tpd. Notably, 10 of the 12 acquired leases historically produced a total of ~4.2M lb U3O8 at 1.39% U3O8. Accounting for the historical production, the acquired leases are estimated to host ~2M lb U3O8, increasing total resources across Anfield’s portfolio to ~48.6M lbs U3O8. We view this as a positive development as this acquisition gives Anfield control over 21 of 31 US DOE leases. These are contiguous to Anfield’s current portfolio and could therefore be combined to improve the economics outlined in the 2023 PEA at the mill and surrounding projects, which contemplates a 15-year operation with an NPV8% of US$238M (read more).