Anfield shares up 12.5% as Uranium Energy increases stake

Uranium Energy Corp. [UEC-NYSE American] has spent $15 million to acquire 107.1 million shares of Anfield Energy Inc. [AEC-TSXV, ANLDF-OTCQB, OAD-Frankfurt].

Anfield shares advanced on the news, rising 12.5% or $0.01 to $0.09. The shares trade in a 52-week range of 13.5 cents and $0.055.

The acquisition was completed on January 15, 2025, pursuant to a subscription agreement between Uranium Energy and Anfield, whereby the company subscribed for Anfield shares at a price of 14 cents each. Immediately after the acquisition, Uranium Energy had beneficial ownership, and control and direction of 203.4 million Anfield shares, representing 17.8% of the shares outstanding on a non-diluted basis and 24.2% oon a partially diluted basis after assuming the exercise of all warrants held by the company.

Anfield is a uranium and vanadium development company. Its asset portfolio includes the Shootaring Canyon Mill in Garfield County, Utah. Shootaring ranks as one of only three licensed, permitted and constructed conventional uranium mills in the U.S.  The asset is integral to Anfield’s pursuit of strategically acquired conventional uranium and vanadium projects in Utah, Colorado, Arizona and New Mexico, areas with a history of production. Anfield has announced its intention to pursue a listing of its shares on a senior U.S. stock exchange.

Prior its lates share acquisition, Uranium Energy owned and had control of 96.3 million Anfield shares and 96.7 million share purchase warrants, each of which is exercisable into an Anfield share at a price of 18 cents until May 12, 2027, representing 9.3% of the shares on a non-diluted basis and 17% partially diluted.

Uranium Energy is a supplier of uranium needed to produce safe, clean and reliable nuclear energy. It is advancing the next generation of low cost in situ recovery mining uranium projects in the United States and high-grade conventional projects in Canada. The company has three hub and spoke platforms in south Texas and Wyoming with a combined licensed production capacity of 12.1 million pounds of uranium octoxide per year. In August, 2024, in situ recovery operations began at the Christensen Ranch project in Wyoming, sending uranium loaded resin to the Irigaray CPP in Wyoming.

In-situ recovery involves processing the uranium while it is still in the ground through the injection of catalyzing agents into the ore. The process is only possible in porous geological formations (like sandstone) which are amenable to such a technique. On average, the capital spend needed to put an ISR uranium project into production is less than 15% of the cost to build a conventional hard-rock uranium mine.

Uranium Energy has a major equity stake in Uranium Royalty Corp. [URC-TSX, UROY-NASDAQ], the world’s only uranium-focused royalty and streaming company and the only pure play uranium-listed company on the NASDAQ. The company provides investors with uranium commodity price exposure through strategic acquisitions in uranium interests, including royalties, streams, debt and equity in uranium companies as well as through trading of physical uranium.