Anfield Energy Inc Dossier
Qualitative Analysis
Business overview
Anfield Energy Inc. is a leading U.S.-focused uranium and vanadium development and near-term production company. The company operates a unique "hub-and-spoke" production model anchored by its 100%-owned Shootaring Canyon Mill in southeastern Utah. The Shootaring Canyon Mill is highly strategic as it is one of only three licensed, permitted, and constructed conventional uranium mills in the United States. This central processing facility is designed to process conventional ore trucked from Anfield's extensive portfolio of tributary mines and projects across Utah, Colorado, Arizona, and New Mexico. Key assets feeding this hub include the Velvet-Wood project in Utah, the Slick Rock project in Colorado, and the West Slope mine complex. Anfield is publicly traded on the NASDAQ Capital Market (AEC), the TSX Venture Exchange (AEC), and the Frankfurt Stock Exchange (0AD).
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Anfield is advancing an integrated uranium and vanadium production model centered around its 100%-owned Shootaring Canyon Mill in Utah. Multiple tributary mines, including Velvet-Wood in Utah, Slick Rock in Colorado, and the West Slope Mines, will act as 'spokes' supplying feed material to the centralized processing facility.
Expected impact: Enables a pre-tax project NPV of US$606 million and IRR of 106% (post-tax NPV of US$533 million and IRR of 97%) based on a US$100/lb uranium price, with an expected mine and mill capex payback period of 1.3 years.
Completion of the first phase of surface construction, mine reopening, dewatering, and site rehabilitation activities at the Velvet-Wood uranium and vanadium project in Utah.
Expected impact: Prepares the Velvet-Wood mine to serve as a primary near-term source of conventional ore feed for the Shootaring Canyon Mill.
Securing specialized underground mining equipment through a partnership with Utah-based Young's Machine Company, including custom-built underground haul trucks and loaders.
Expected impact: Ensures operational readiness and self-sufficiency for underground development and production at Velvet-Wood, JD-8, and Slick Rock.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
To integrate BRS's renowned uranium-focused engineering, mine development, construction management, and geology consulting expertise directly into Anfield. This brings Chief Operating Officer Douglas L. Beahm and his technical team full-time in-house, streamlining project execution, reducing third-party consulting costs, and accelerating the path to production.
Financial impact: Requires a series of cash payments to Douglas L. Beahm totaling US$5,000,000 (US$1,500,000 on closing, US$1,500,000 on the first anniversary, and US$2,000,000 on the second anniversary).
Strategic Partnerships
UEC is Anfield's largest shareholder, holding a significant equity stake (over 30% on a non-diluted basis). UEC completed a CAD 15 million equity financing in January 2025 and participated in a subsequent US$10 million capital raise in January 2026. Additionally, UEC entered into an indemnification support agreement providing up to US$3 million in bonding support for the Shootaring Canyon Mill.
Terms: CAD 15 million private placement completed in January 2025; US$3 million mill bonding indemnification support agreement; participation in the US$10 million LIFE and concurrent private placement in January 2026.
A local Utah-based manufacturer supplying specialized, custom-built underground mining equipment (haul trucks and loaders) to support Anfield's hub-and-spoke mining operations.
Terms: Procurement contract for custom underground haul trucks and loaders (specific financial terms not disclosed).