Anfield Resources Joins the Ranks of Near-term Uranium Producers

Anfield Resources Joins the Ranks of Near-term Uranium ProducersLooks like Anfield Resource (TSXV:ARY) is climbing the development ladder with its acquisition of Uranium One's Shootaring Canyon mill and the surrounding uranium assets.

The acquisition of Uranium One's assets in Utah, Arizona and South Dakota increases Anfield's uranium asset acreage by more than 250 percent, establishing the junior exploration and acquisition company as one of the largest uranium property landholders in the United States.

Furthermore, as the company notes in its press release, the location of the assets is a boon from a production perspective — the Shootaring mill and properties lie within the most prolific uranium production area in the US, and are also in close proximity to the company's other holdings. Investors can expect to see Anfield work towards getting the historic resource for the Uranium One assets upgraded to a NI 43-101 resource.

Acquiring Uranium One's assets gives Anfield a portfolio of conventional uranium assets with a historic resource estimate of 6.8 million ounces of U3O8. However, the highlight of the deal is the Shootaring mill, which gives the company an added edge, particularly since there are only three licensed conventional uranium mills in the US.

Anfield Resources CEO Corey Dias, who is encouraged by the news, told Uranium Investing News that "it's great for our investors and great for the company."

"The way we look at it is that uranium mills are very different from copper or gold mills. There is a very limited number of uranium mills available that are producing. There were 44 in the 1980s and now there are essentially three in the US," Dias explained, adding, "now all of a sudden Anfield is in the near-term production business. The mill has significant value because nobody is building these mills. So we skipped a whole bunch of time and effort by acquiring this mill today."