Northwire Canada EditionFriday, July 10, 2026
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TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
Production / Operations Neutral

Anfield Energy Provides Operational Update on Shootaring Canyon Uranium Mill License Renewal and Refurbishment

Anfield advances mill refurbishment and velvet-wood construction, though capital needs and execution risks keep the stock in consolidation.

By The Northwire Desk — AI Analysis Jun 08, 2026 · 07:00 AEC · 5.82 Anfield Energy Inc.
Executive Summary
  • The most recent release (June 8, 2026) provides an operational update on the Shootaring Canyon Uranium Mill license renewal and refurbishment.
  • The company completed drilling 8 additional monitoring wells, a key regulatory requirement, and initiated leach tank removal for facility refurbishment under the existing license.
  • Detailed engineering designs are advancing with PSE Engineering, targeting a 1,000 tons per day throughput capacity.
  • The company aims to complete the radioactive materials license renewal by the end of 2026 and resume production in 2027.
  • A temporary man camp is being constructed to accommodate up to 40 workers for the upcoming refurbishment and transition to initial production.
  • Corporate infrastructure was updated with a 12-month IR agreement and a 6-month market-making agreement.
  • This update follows a clear progression of historical milestones: Velvet-Wood Phase 1 surface construction was completed on June 1, 2026, with Phase 2 (dewatering and ore pad construction) targeting a 6-month timeline and underground development starting within 30 days.
  • The May 4, 2026 Preliminary Economic Assessment (PEA) significantly upgraded project economics to a pre-tax NPV of US$606 million and a pre-tax IRR of 106% at $100/lb uranium and $9/lb vanadium, compared to prior assumptions of $70/lb uranium and $12/lb vanadium.
  • Regulatory progress continues at JD-8, with a permit amendment submitted in April 2026 targeting a H2 2026 restart.
Material Impact
  • The June 8 mill update is fully in line with previous management guidance and the company's stated 2027 restart timeline.
  • No new financial data, contract wins, or unexpected regulatory breakthroughs were disclosed. The monitoring well completion and leach tank removal are expected, incremental steps in a multi-year refurbishment process.
  • The stock has declined from a high of $15.36 in October 2025 to $5.82 in early June 2026, reflecting market skepticism regarding execution timelines, commodity price assumptions, and the substantial capital required to fund the hub-and-spoke model.
  • The PEA's optimistic IRR of 106% is highly sensitive to uranium and vanadium price assumptions. At current market prices, the economic case is materially weaker, and the market has already priced in this discount.
  • The appointment of an IR firm and market-maker is a standard corporate housekeeping step and does not alter the fundamental risk/reward profile.
  • Overall, the news represents routine operational execution. It confirms the company is staying on track but does not de-risk the near-term capital needs or production timeline.
AEC · Price
Company Overview
  • Anfield Energy operates a hub-and-spoke uranium and vanadium production strategy in the United States.
  • The flagship hub is the 100% owned Shootaring Canyon Uranium Mill in Utah, one of only three fully licensed, permitted, and constructed conventional uranium mills in the U.S. The mill is currently in standby and undergoing refurbishment to increase capacity from 750 tpd to 1,000 tpd.
  • The spokes include the Velvet-Wood mine (Utah), Slick Rock complex (Colorado), JD-8 mine (Colorado), and various DOE leases. These projects are designed to feed ore to the Shootaring mill, creating a vertically integrated domestic supply chain.
  • The company's strategy aligns with U.S. energy independence goals, leveraging expedited permitting and critical mineral designations to accelerate development.
Read the original news release →

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Technical Study Jun 18, 2026 · 07:00

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Technical Study Jun 15, 2026 · 07:27

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Production / Operations