August 5, 2021
Anfield Energy Inc. (TSXV:AEC, BUY, C$0.25 target, David A. Talbot) announced that it has engaged BRS Engineering to complete a resource estimate for its Taylor Ranch ISR project located in the Powder River Basin, one of the 25 projects held by the company in the state of Wyoming. Given the positive outlook on the uranium market, management believes this is the right time to advance the early-stage project. The resource estimate for Taylor Ranch, a project acquired from Uranium One, will be the fifth report commissioned for the company’s projects highlighting its commitment to creating a viable pipeline of uranium projects in the US. Largely compliant and historical resources currently stand at 12.5M lb U3O8 in Wyoming. A toll processing agreement with Uranium One to use its Christensen Ranch satellite plant and Irigaray central processing plant, can help reduce initial capital costs. While its 4M lb Charlie ISR project is the flagship that contemplates 0.5M lb p.a. U3O8 production, Taylor Ranch is one of several projects that could help double potential production, even before the company considers building its own processing facility. Historical archives suggest that Taylor Ranch has a non-compliant mineral inventory of up to 10M lb, but this has been difficult for us to confirm. We don’t currently provide any value for this project. Read more
