Anfield Energy Advances Velvet-Wood Rehabilitation for Uranium Production Strategy
Anfield Energy has restarted underground operations at Velvet-Wood, marking a pivotal step in its US uranium production strategy. The project's rehabilitation, including significant infrastructure enhancements, supports a larger hub-and-spoke model connecting various assets to the Shootaring Canyon Mill, crucial for operational success.
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Anfield Energy Inc. has completed its first underground blast at the Velvet-Wood project in Utah, marking a significant milestone in its uranium production strategy. The company has rehabilitated 700 feet of the decline, installing necessary infrastructure such as ventilation and utilities, with a water treatment plant and dewatering pump nearing completion.
This progress aligns with Anfield's hub-and-spoke strategy, linking multiple deposits to the Shootaring Canyon Mill, aiming for 1,000 tons per day capacity and projected annual outputs of 1.3 million pounds of uranium. The preliminary economic assessment estimates a capital requirement of approximately US$97 million pre-production and US$173 million over the mine's life. Successful execution of rehabilitation and processing timelines is essential for investor confidence, particularly as financing remains a critical risk factor.
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