Anfield Energy to acquire uranium project from enCore Energy as it builds resource base

Anfield Energy Inc. (TSX-V:AEC, OTCQB:ANLDF) told investors it has entered a deal to buy enCore Energy Corp (TSX-V:EU, NYSE-A:EU) ’s Marquez-Juan Tafoya uranium project in a move that will increase its uranium resource base by more than 60% and introduce enCore as a core shareholder.

The company said it entered a definitive share purchase agreement, dated June 4, 2023, with enCore to acquire its wholly-owned subsidiary, Neutron Energy Inc, the holder of the uranium project, for 185 million of its common shares and C$5 million in cash.

It noted that Juan Tafoya, located in the Grants Uranium Mineral District, 50 miles west-northwest of Alburquerque in New Mexico, hosts a historical indicated uranium resource, based on a Preliminary Economic Assessment commissioned by enCore, of approximately 7.1 million tonnes (Mt) at an average grade of 0.127% returning 18.1 million pounds (Mlbs), using a minimum 0.60 grammes per tonne (GT) cutoff.

Anfield CEO Corey Dias […]

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