Anfield Energy Inc. (TSX-V:AEC, OTCQB:ANLDF) has announced an agreement to sell its uranium royalty portfolio to Uranium Royalty (USA) Corp (URC), a wholly-owned subsidiary of Uranium Royalty Corp, for a one-time cash payment of US$1.5 million.
The uranium and vanadium development and near-term production company said the portfolio consists of four royalties related to the Energy Queen and Whirlwind projects held by Energy Fuels, Inc, the Dewey Burdock project held by enCore Energy, and the San Rafael project held by Western Uranium and Vanadium.
“We are pleased to have reached an agreement with URC regarding the sale of our royalty portfolio as our focus remains on leveraging our wholly-owned assets to meet our goal of uranium and vanadium production,” Anfield Energy CEO Corey Dias said in a statement.
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“Anfield continues to advance its assets to near-term production while it seeks further opportunities to increase its longer-term uranium and vanadium asset production pipeline in order to extend the life of its conventional mine-and-mill complex,” Dias added.
Anfield noted the divestiture fits the company’s strategy with regard to the primary pursuit of uranium and vanadium production through its wholly-owned conventional mine-and-mill complex.
Anfield Energy is a uranium and vanadium development and near-term production company with uranium assets in southeastern Utah, Colorado, and Arizona, targeting areas where past uranium mining or prospecting occurred.
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