Business
Anfield Resources Inc. Reports Positive Preliminary Economic Assessment on Velvet-Wood Uranium Project in Utah
(via Thenewswire.ca) ?? Pre-tax IRR up to 41% ?? NPV of US$63.0 million at...
About this update from Anfield Energy Inc
[{"type":"text","content":"Anfield Resources Inc. Reports Positive Preliminary Economic Assessment on Velvet-Wood Uranium Project in Utah(via Thenewswire.ca)\n\n \n\n\n??Pre-tax IRR up to 41% \n\n\n\n??NPV of US$63.0 million at 8% discount rate and US$65/lb uranium \n\n\n\n\n \nVANCOUVER, BRITISH COLUMBIA / TheNewsire / June 27, 2016 -- Anfield Resources Inc. (TSX.V: ARY) (FRANKFURT: 0AD)(\"Anfield\" or \"the Company\"), is pleased to report the results of its Preliminary Economic Assessment (\"PEA\") with regard to the Velvet-Wood Uranium Project (\"Velvet-Wood\"). The independent PEA was prepared in accordance with National Instrument 43-101 standards of disclosure for mineral properties. Velvet-Wood, as discussed herein, consists of two mine areas, located in Lisbon Valley, Utah and the Shootaring Canyon Uranium Mill (\"Shootaring Mill\"), located in Ticaboo, Utah. \n\n \n \nIn the PEA, initial mineral processing will be via conventional vat or heap leaching methods conducted at Anfield's existing mineral processing facility, the Shootaring Mill, which lies approximately 180 miles from the Velvet-Wood mine area. Under this scenario, only those portions of the Shootaring Mill necessary for the final processing of pregnant leach solutions, from either a vat or heap leach facility, will be refurbished.\n\n \n \nThe project area covers approximately 2,425 acres, including unpatented mining claims and a State of Utah mineral lease related to the Velvet and Wood mine areas, and the Shootaring Mill.\n\n \n \n Highlights include:\n\n \n \n\n\n--Using a vat leaching recovery option, the PEA shows a pre-tax project Internal Rate of Return (\"IRR\") of 41% and a Net Present Value (\"NPV\") of US$63.0 million, based on a discount rate of 8% and a uranium price of US$65 per pound. \n\n\n\n--Using a heap leaching recovery option, the PEA shows a pre-tax project Internal Rate of Return (\"IRR\") of 37% and a Net Present Value (\"NPV\") of US$53.5 million, based on a discount rate of 8% and a uranium price of US$65 per pound. \n\n\n\n--Under both scenarios, average production would be approximately 663,000 pounds per annum, for total production of 4.6 million pounds over a seven-year mine life. \n\n\n\n--Under both scenarios, total project capex is estimated at approximately US$46 million. \n\n\n\n--Direct operating costs of $10.75 per pound of uranium via vat leach a...