Anfield Energy releases PEA showing 106% IRR for uranium project

Anfield Energy Inc. (NASDAQ: AEC) released an updated Preliminary Economic Assessment in June 2026 for its hub-and-spoke uranium and vanadium operations, projecting a pre-tax internal rate of return of 106% and a net present value of $606 million at an 8% discount rate, with a post-tax IRR of 97% and NPV of $533 million.

The PEA outlines pre-production capital expenditure of approximately $97 million over 12 months and a projected payback period of 1.3 years. The model assumes average annual production of approximately 1.3 million pounds of uranium oxide and 6.4 million pounds of vanadium pentoxide over a 15-year mine life, with centralized processing at the Shootaring Canyon Mill in Utah at a target capacity of 1,000 tonnes per day.

The company said Phase One construction at its Velvet-Wood mine was completed in June 2026, with Phase Two now underway and production targeted by the end of 2026. The Shootaring Canyon Mill remains on a care-and-maintenance license, with a conversion to operational status and production targeted for 2027. Eight monitoring wells were installed in May 2026 to establish baseline groundwater data.

Anfield completed the acquisition of engineering firm B.R.S. Inc. in May 2026 and received an underground haul truck from a Utah manufacturer in June 2026. The company also submitted a revised Plan of Operations for its JD-8 site to the U.S. Department of Energy and Colorado regulators in April 2026.

At the SM-18 site, the company's notice of intent to conduct a drilling program was denied by Colorado's Division of Reclamation, Mining and Safety, and a subsequent request for reconsideration was also denied. Anfield has filed for a hearing and said it is in discussions with the agency and the state Attorney General's office regarding a potential compromise.

Uranium Energy Corp. has increased its stake in Anfield, according to the company's statement. Anfield also disclosed a three-month media services agreement with Goldwyn Media LLC for $200,000, subject to TSX Venture Exchange approval.

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