Anfield Resources brings in C$737,500 via private placing to develop uranium assets

2017-10-04 13:21:00
Shootaring Canyon Mill lies within one of the historically most prolific uranium production areas in the US
Anfield Resources is developing uranium assets

Anfield Resources Inc (CVE:ARY), the energy-focused resource group, has raised C$737,500 via a private placing to advance its uranium ambitions.

The group issued over 12.29mln units to nine placees, with each unit consisting of one share and one warrant.

READ - Anfield Resources' uranium mining ambitions bolstered with latest resource estimate

Each warrant entitles the holder to buy a further share for 10 cents each for 60 months.

Anfield is focused on two near term production assets.

One is the Shootaring Canyon Mill in Garfield County, Utah -  the company's main conventional uranium project.

This lies within one of the historically most prolific uranium production areas in America, and is one of only three licensed uranium mills in the USA.

Within a 125 mile radius of the Shootaring mill lies the Velvet-Wood Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe.

In Wyoming, it has the Irigaray ISR (in-situ recovery) processing plant.

These  unconventional projects lie in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming, and comprise 2,667 federal mining claims, 56 Wyoming State leases and 15 private leases acquired from Uranium One in September last year.

Anfield has agreed to enter into a 'resin processing agreement' with Uranium One wherein Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One's Irigaray Central Processing Plant in Wyoming.