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To: LoneClone who wrote (18168)4/30/2019 11:58:56 AM
From: LoneClone
   of 18430
 
Global Atomic Announces Results For Financial Year 2018

globenewswire.com

April 29, 2019 21:35 ET | Source: Global Atomic Corporation
photo-release


Comparative Results for 2018 & 2017 of the Joint Venture at 100%

Comparative Results for 2018 & 2017 of the Joint Venture at 100%
Global Atomic Corporation
Summarizes Comparative Operations Metrics of the Iskenderun Facility

Summarizes Comparative Operations Metrics of the Iskenderun Facility
Global Atomic Corporation
Settling Chamber Construction

Settling Chamber Construction
Global Atomic Corporation
New Kiln Transported to Site

New Kiln Transported to Site
Global Atomic Corporation
Reactor Assembly

Reactor Assembly
Global Atomic Corporation
Production Bag Filter Assembly

Production Bag Filter Assembly
Global Atomic Corporation
DASA Targeted Drill Areas (Looking East)

DASA Targeted Drill Areas (Looking East)
Global Atomic Corporation
DASA Mineralized Zones & Underground Conceptual Mine Workings

DASA Mineralized Zones & Underground Conceptual Mine Workings
Global Atomic Corporation

Consolidated Net Income Increased 45% to $7.4 million

Attributable EBITDA Increased 26% to $13.5 million


TORONTO, April 29, 2019 (GLOBE NEWSWIRE) -- Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX-V: GLO, FRANKFURT: G12) is pleased to announce its operating and financial results for the fourth quarter (“Q4”) and financial year ended December 31, 2018.

HIGHLIGHTS

Financials

  • Consolidated net income for the Company was $7.4 million for 2018, up from $5.1 million in 2017.

  • The Company’s working capital surplus was $7.3 million at the end of 2018, up from a deficit of $1.0 million for 2017.

  • The Company's 49% share of EBITDA of the Turkish joint venture was $13.5 million in 2018, up from $10.7 million in 2017; the Company's 49% share of joint venture net income was $10.5 million in 2018, up from $6.9 million in 2017.
  • The Turkish joint venture shipped 20,821 tonnes zinc concentrate containing 31.6 million pounds zinc, compared to shipments of 21,349 tonnes in 2017 containing 32.9 million pounds zinc.

  • The Company received dividends of $6.9 million from the Turkish joint venture in 2018 compared to $4.5 million in 2017. Additionally, the Company received management fees and sales commissions of $0.9 million in each of 2018 and 2017.
  • Turkish Plant Modernization

  • Modernization and expansion of the Turkish electric arc furnace dust ("EAFD") plant in Iskenderun, Turkey is currently underway, at an estimated cost of US $26 million.

  • At December 31, 2018, US $4.4 million has been spent on the Iskenderun project. Existing cash and available credit facilities are sufficient to complete the project.

  • The new plant will be fully operational in September 2019.

  • The new plant will be significantly improved:

  • EAFD throughput will increase from 60,000 tonnes to 110,000 tonnes

  • Zinc recovery rates are expected to improve from 80% to 90%

  • Zinc contained in concentrates will double from 30 million pounds/year to 60 million pounds/year based on full utilization

  • Unit operating costs will be reduced
  • DASA Development and Exploration

    • Fieldwork and a 27,000 metre drill program on the DASA uranium deposit was initiated in January 2018 and defined high grade continuity of the mineralization.

    • Near surface drilling confirmed the Company's understanding of structure and high grade continuity at the Flank Zone at DASA.

    • An updated Mineral Resource Estimate was completed on the Niger DASA uranium project in Q2, based on 15,000 of the additional 2018 drilling, which:

    • Tripled Indicated Resources from 21.4 million pounds to 64.8 million pounds and improved grade 18% from 2,608 ppm eU3O8 to 3,068 ppm eU3O8.

    • Inferred Resources decreased slightly from 49.4 million pounds grading 2,954 ppm eU3O8. increased to 48.4 million pounds grading 2,600 ppm eU3O8.

    • A Preliminary Economic Assessment ("PEA") was completed on the DASA Uranium Project and includes two mining scenarios:

    • A Stand-alone operation initially operating at 2,500 tpd and ramping up to 3,500 tpd and producing 4 Mlb to 7 Mlb U3O8/year over a 15 year mine life and,

    • A sales agreement scenario based on the July 2017 MOU with Orano Mining ("Orano"), including a fast track to cash flow and significantly reduced initial capital of US$35 million to start and no mill required.
    Other Corporate Developments

  • The Company received conditional listing approval from the Toronto Stock Exchange ("TSX") on April 18, 2019.

  • The Company raised $8.9 million in an equity financing in November 2018 and a further $1.3 million in January 2019.

  • Application was made to the Ministry of Mines of the Republic of Niger for extension of the Exploration Permits and in December 2018, an extension for 24 months to January 29, 2021 was obtained for all 6 Exploration Permits.
  • OUTLOOK

  • The Turkish EAFD plant modernization and expansion project is on schedule.

  • On completion, the Turkish operations will again be cash flow positive with dividend flow expected to resume in 2021, following repayment of construction costs.

  • An updated Resource Statement for the DASA deposit is in process, which will include all drill and assay information, with the final report available in late Q2 2019.

  • Mine plans will be optimized based on the updated Resource Statement and a feasibility study completed by year end or early 2020.

  • Application for the DASA Mining Permit will be made in early 2020, with permits expected in Q3 2020.

  • The Company expects to graduate to the TSX on or before May 15, 2019. The Company will continue to trade under the stock symbol: GLO.
  • BASE METALS DIVISION OPERATIONS

    The BST joint venture owns and operates an EAFD processing plant in Iskenderun, Turkey. The plant processes EAFD containing 25% to 30% zinc that is obtained from electric arc steel producers and produces a zinc concentrate grading 68% to 70% zinc that is then sold to zinc smelters.

    Global Atomic holds a 49% interest in the BST joint venture and as such, the investment is accounted for using the equity basis of accounting. Under this basis of accounting, the Company’s share of BST’s earnings is shown as a single line in its income statement. The following table summarizes comparative results for 2018 and 2017 of the joint venture at 100%.

    A photo accompanying this announcement is available at globenewswire.com

  • EBITDA is a non-IFRS measure, does not have a standardized meaning prescribed by IFRS and may not be comparable to similar terms and measures presented by other issuers. EBITDA comprises earnings before income taxes, interest expense (income) and financing expense (income), amortization expense, foreign exchange loss (gain), and other expenses including management fees, sales commissions; gain on sale of property, plant and equipment and impairment charges.
  • The following table summarizes comparative operational metrics of the Iskenderun facility.

    A photo accompanying this announcement is available at globenewswire.com

    Zinc concentrates are sold to smelters in US dollars. Because the Turkish Lira is the functional currency of the Turkish operations, sales are converted to Turkish Lira at the date of the sale. When funds are subsequently received, the US dollar receipts are translated to Turkish Lira. As a result, exchange gains or losses will be recognized. In 2018, the average US dollar exchange rate was 4.83 Turkish Lira, compared to 3.65 in 2017. The Turkish Lira depreciated significantly and quickly, with the result that a large exchange gain of $4.6 million was recognized.

    BST processed 65,340 tonnes EAFD in 2018 compared to 62,385 tonnes in 2017. Production of concentrates was 19,829 dry metric tonnes (“DMT”), down 8% from 21,543 DMT in 2017. This reflects a lower average zinc content in EAFD processed during 2018. Offsetting this was the impact of higher shipments than production in 2018, as a result of certain 2017 year end shipments being recognized in revenues during 2018. The zinc content of 2018 concentrate shipments was 68.9%, compared to 70.0% in 2017.

    Although the average zinc price in 2018 of $1.33/lb was similar to the $1.31/lb in 2017, revenues are impacted by the timing of the zinc price movements and shipments. For example, the zinc price averaged $1.41/lb in the last 6 months of 2017 and $1.48/lb during the first 6 months of 2018. However, it was only $1.22/lb during the first 6 months of 2017 and $1.17/lb during the last 6 months of 2018.

    The combination of the foregoing factors resulted in an increase in 2018 revenues to $43.9 million from $38.9 million in 2017, plus a foreign exchange gain of $4.6 million in 2018. Cost of sales also increased as a result of various higher input costs to BST. Overall, EBITDA increased to $27.5 million in 2018 from $21.8 million in 2017.

    BST made a decision in 2018 to proceed with the modernization and expansion of the Iskenderun plant. Accordingly, certain components of the existing plant have been removed and scrapped. A loss on property disposition was provided for in the 2018 accounts to reflect this.

    Income tax expense in 2018 was lower that the 2017 expense, reflecting the benefits of the various investment incentives available to BST as a result of the decision to proceed with the capital project.

    The modernization and expansion of the Iskenderun plant is estimated to cost US $26 million, of which US $4.4 million had been paid as of year end. The contracts for the supply and installation of the equipment are largely on an “EPC” basis, so there is limited risk of cost overruns. BST is funding the costs of the project with existing cash and available credit facilities, with the result that no equity contributions are required from the joint venture partners.

    Photos accompanying this announcement are available at globenewswire.com

    globenewswire.com

    The Iskenderun plant project continues to be on schedule, with commissioning to be completed by September 2019, after which the plant will be fully operational. The existing plant was closed in January 2019 to facilitate the construction of the new plant. During the shut-down period EAFD is being stored in a warehouse and an estimated 25,000 tonnes EAFD will be available at start-up of the new plant. The economics of the new plant will be greatly improved as a result of the following:

  • EAFD throughput increases from 60,000 tonnes to 110,000 tonnes EAFD
  • Zinc recovery rates are expected to improve from 80% to 90%
  • Zinc contained in concentrate will double from 30 million pounds/year to 60 million pounds/year based on full utilization
  • Unit operating costs will be reduced
  • Dependent on utilization rates and zinc prices, EBITDA is expected to increase by 2 to 3 times.
  • The Iskenderun plant will utilize the best available technology and process EAFD in a clean, environmentally sensitive manner.

    Photos accompanying this announcement are available at globenewswire.com

    globenewswire.com

    URANIUM DIVISION OPERATIONS

    Subsequent to the acquisition of GAFC, the Company remobilized to the field and drilling began in late January 2018.

    Global Atomic drilled approximately 27,000 metres at the DASA deposit during 2018. The primary objectives of the drill program were to prove the potential for near surface production at the Flank Zone and to assess the potential for further discoveries and resource expansion along strike and down dip. This program was very successful.

    Drilling at the Flank Zone significantly expanded resources and drilling along strike and down dip identified several new zones at the Tegama Hill, Tegama Hill South, the Northeast extensions and the Southwest Extensions (see the image below):

    A photo accompanying this announcement is available at globenewswire.com

    Near surface drilling at the Flank Zone completed in the first half of 2018 was used as the basis for an updated National Instrument (“NI”) 43-101 Mineral Resource Estimate prepared by CSA Global Pty Ltd. (“CSA Global”). The updated resource report incorporates an additional 36 drill holes totaling approximately 15,000 metres drilled from January to June 2018.

    The June 30, 2018 CSA Global report concluded on the Mineral Resource Statement for the DASA deposit shown in the table below:



    Category
    TonneseU3O8Contained
    metal
    MtppmMlb
    Indicated – Pit Constrained7.083,25150.8
    Indicated – Underground2.52,55314.1
    Total Indicated9.593,06864.8
    Inferred – Pit Constrained0.261,1350.7
    Inferred – Underground8.182,64747.7
    Total Inferred8.442,60048.4
    * These results are based on gamma probing. Final results will be released once chemical assaying is completed at ALS Global in Vancouver, Canada.

  • Mineral Resources are based on CIM definitions and is reported as at 1st June 2018.
  • Mineral Resources for pit constrained resources are estimated within the limits of an ultimate pit shell
  • Mineral Resources for underground resources are estimated outside the limits of ultimate pit shell.
  • A cut-off grade of 320 ppm eU3O8 has been applied for open pit resources.
  • A cut-off grade of 1200 ppm eU3O8 has been applied for underground resources.
  • A bulk density of 2.36t/m3 has been applied for all model cells.
  • Rows and columns may not add up exactly due to rounding.
  • Subsequent to completion of the latest Mineral Resource Estimate, the Company continued to intersect additional high grade mineralization in the Flank Zone. An updated Mineral Resource Statement is currently being prepared by CSA Global, taking into account all of the 2018 drill results and related assays. The updated Mineral Resource Statement is expected to be available late Q2 2019.

    Preliminary Economic Assessment (“PEA”)

    On October 28, 2018 the Company announced the results of a PEA for the DASA Uranium Project. The PEA was completed by CSA Global with the objective of assessing the economic and technical viability of uranium production at DASA as an integrated operating facility to mine and recover a uranium concentrate on the property, referred to as the DASA Stand-alone Scenario. An on-site mill would initially operate at 2,500 tpd and later ramp up to 3,500 tpd.

    As a “value opportunity”, Global Atomic also requested CSA Global to study the Alternative Mining Strategy, whereby the Company could achieve positive cash flow with minimal up front capital by selling mineralized rock directly to Orano as per a Memorandum of Understanding the Company has with Orano. The Company believes this represents a compelling case at current uranium prices.

    Highlights of the DASA Stand-alone Scenario include:

  • High grade 69 million lbs U3O8 grading of 2,380 ppm U3O8 over a 15 year mine life.

  • Scalable production: Annual production sustained of 4 Mlb to 7 Mlb U3O8 over the 15 year mine life.

  • Low cost operation: All-in sustaining cost ("AISC") of US$28.51/lb U3O8.

  • Initial CAPEX: US$320 million, including US$141 million for an on-site mill and US$467 million over the life of mine with the inclusion of sustaining capital and reclamation.
  • Significant NPV and project return at expected long-term uranium price:
  • NPV and IRR – DASA Standalone Scenario


    Unit Uranium Price (US$/lb U3O8)

    $45.00
    $50.00
    $55.00
    Pre-Tax



    NPV @ 8%US$ M$204
    $357
    $527
    IRR (100% Equity)

    19.8%
    27.3%
    35.6%
    Post-Tax



    NPV @ 8%US$ M$179
    $306
    $443
    IRR (100% Equity)

    18.4%
    25.2%
    32.7%
    Highlights of the Alternative Mining Strategy include:

  • Fast track to cash flow: Accelerated underground development with minimal infrastructure.

  • Reduced initial capital: US$35 million to start mining, no mill required.

  • High grade material: Potential to ship 360,000 tonnes annually for the 5 year contract containing on average 2.8 million lbs U3O8 grading 3,698 ppm.

  • Low cost mining: Operating costs of US$10.94 per lb U3O8 before transport and processing, indicates this is potentially profitable at current uranium prices.
  • The following shows the DASA mineralized zones and underground conceptual mine workings as per the PEA

    A photo accompanying this announcement is available at globenewswire.com

    Current Planning

    As previously indicated, CSA Global is presently updating the Mineral Resource Statement for DASA to incorporate all available information. Once this is completed, several mine plans will be evaluated to arrive at the optimal mining scenario. Any additional studies required to support a feasibility study will be initiated, so that a feasibility study is available late 2019. Upon completion of the feasibility study, Global Atomic will apply for a Mining Permit on the DASA deposit. Historically, mining permits have been awarded within 4 to 6 months.

    Global Atomic is in the second renewal period for it Exploration Permits. Such Exploration Permits previously had an expiry date of January 29, 2019. However, on December 17, 2018, all six Exploration Permits were extended for 24 months to January 29, 2021. This provides sufficient time to enable the Company to complete the feasibility study and make application to obtain its Mining Permit for the DASA deposit.

    LIQUDITY AND FINANCIAL POSITION

    The Company reported a working capital surplus of $7.3 million at December 31, 2018 compared to a deficit of
    $1.0 million at December 31, 2017. In Q4, 2017, as a result of the acquisition of GAFC, the Company assumed liabilities of GAFC, and commenced payments for exploration activities. During 2018, the Company spent $6.0 million on exploration and evaluation expenditures related to its Niger uranium properties.

    The cash required to support expenditures was derived from the cash on hand at the end of 2017 and the dividend received from BST in 2018. In 2018, the Company received a dividend payment of $6.9 million from BST as compared to a dividend receipt of $4.5 million in 2017.

    Throughout the year, the Company receives its share of management fees and sales commissions from the Turkish operations, which amounts fund the various corporate costs.

    In November 2018, the Company completed a private placement of common shares for gross proceeds of $8.9 million. A further private placement of common shares for $1.3 million was completed in January 2019. These private placements have provided the Company with the liquidity necessary to complete its Niger feasibility study to support obtaining its Mining Permit.

    Additional exploration expenditures are largely discretionary and the amount of exploration activity can therefore be adjusted based on availability of equity capital.

    In 2018, the Turkish joint venture initiated a modernization and expansion program on its Iskenderun plant. Funding for such capital costs will be derived from existing cash and available credit facilities to the joint venture. No dividends will be paid until after any credit facilities have been repaid. Credit facility repayment is projected to take place in 2020, so the Company does not expect to receive any dividends from BST until 2021.

    QP Statement

    George A. Flach, Vice President of Exploration, P.Geo. is the Qualified Person (QP) as defined in NI 43-101 and has prepared, supervised the preparation of, and approved the scientific technical disclosure in this news release.

    The PEA was completed in accordance with NI 43-101, Canadian Institute of Mining, Milling and Petroleum (“CIM”) standards. The PEA is preliminary in nature and includes Inferred Mineral Resources that are too speculative geologically to have economic considerations’ applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that PEA results will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

    About Global Atomic

    Global Atomic Corporation is a TSX Venture listed company providing a unique combination of high grade uranium development and cash flowing zinc concentrate production.

    The Company’s Uranium Division includes six exploration permits in the Republic of Niger covering an area of approximately 750 km2. Uranium mineralization has been identified on each of the permits, with the most significant discovery being the DASA deposit situated on the Adrar Emoles III concession, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The DASA deposit is currently undergoing a feasibility program to study shipping mineralized material to Orano Mining’s operations in Arlit under an MOU signed with Orano in July, 2017.

    Global Atomics’ Base Metals Division holds a 49% interest in Befesa Silvermet Turkey, S.L. (“BST”) joint venture, which operates a processing facility, located in Iskenderun, Turkey, that converts Electric Arc Furnace Dust (“EAFD”) into a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (“Befesa”, listed on the Frankfurt exchange under ‘BFSA’), holds a 51% interest in and is the operator of the BST joint venture. Befesa is a market leader in EAFD recycling, capturing approximately 50% of the European EAFD market with facilities located throughout Europe and Korea.

    BST is well underway with an expansion project to significantly modernize and expand its processing plant in Turkey. The expansion is targeted to double annual production of zinc from 30 million lbs to 60 million lbs and is supported by EAFD supply currently available for processing in Turkey. The new plant is scheduled for completion by September 2019.

    Key contacts:

    Stephen G. Roman
    Chairman, President & CEO
    Tel: +1 (416) 368-3949
    Email: sgr@globalatomiccorp.com

    Merlin Marr-Johnson
    Executive VP
    Tel: +44 7803 712 280
    Email: mmj@globalatomiccorp.com

    The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomic’s development potential and timetable of its operating, development and exploration assets; Global Atomic’s ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", “targets”, "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.

    Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Global Atomic’s annual and interim MD&As.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



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    From: LoneClone5/1/2019 11:25:50 AM
       of 18430
     
    Appia Announces 2019 Summer Diamond Drilling and Exploration Plans for Critical Rare Earth Elements and Uranium Projects

    newsfilecorp.com

    Toronto, Ontario--(Newsfile Corp. - May 1, 2019) - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia) is pleased to provide details regarding the Company's planned exploration activities for the world-class, high-grade critical rare earth elements ("REE") Alces Lake and uranium properties, Athabasca Basin area, northern Saskatchewan.

    ALCES LAKE

    The Alces Lake Property encompasses some of the highest-grade total and critical REE mineralization in the world, hosted within seven surface showings that remain open at depth. Critical rare earth elements are defined here as those that are in short-supply and high-demand for use in permanent magnets and modern electronic applications such as electric vehicles and wind turbines (i.e: Neodymium (Nd), Praseodymium (Pr) and Dysprosium (Dy)). The Alces Lake project area is 14,334 hectares (35,420 acres) in size, and is 100% owned by Appia.

    Follow-up exploration is scheduled to start in June and is planned to include;

    • 3,000 m of diamond drilling on the Ivan/Dylan/Dante zones, Bell/Charles/Charles Lower zones, and reconnaissance drilling on select geophysical/geological targets;
    • a detailed ground gravity survey exploring for high-grade REO concentrations beneath the surface, similar to the Charles Lower zone;
    • follow-up prospecting and stripping overburden in and around previously identified radiometric outcrops within a large radiometric anomaly;
    • airborne radiometric, magnetic and EM geophysical survey over the Forget Lake and Oldman River monazite showings, to be followed with reconnaissance prospecting of said showings; and
    • continuing heavy mineral and monazite-bearing sand evaluation of the Alces Lake beach sand.
    Exploration permits for the proposed summer activities are in-hand.

    NORTH WOLLASTON

    In addition, the Company is planning an airborne radiometric, magnetic and EM geophysical survey over the North Wollaston property which hosts four uraniferous surface showings with grades up to 0.495 wt% U3O8. The surface showings, and any additional radiometric anomaly identified from the airborne survey, are expected to be followed-up with ground exploration during the summer. The North Wollaston project area is 11,371 hectares (28,100 acres) in size, and is 100% owned by Appia.

    LORANGER

    The Company is waiting for drill core geochemical assay results from the Saskatchewan Research Council Geoanalytical laboratory. The results are expected within 2 to 3 weeks and will be announced after they are received and reviewed by the Company.

    About Appia

    Appia is a Canadian publicly-traded company in the uranium and rare earth element sectors. The Company is currently focusing on delineating high-grade critical rare earth elements ("REE") and uranium on the Alces Lake property, as well as prospecting for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 63,980 hectares (158,098 acres) in Saskatchewan.

    The Company also has a 100% interest in 12,545 hectares (31,000 acres), including rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario, which historically produced over 300 million pounds of U3O8 and is the only Canadian camp that has had significant rare earth element (yttrium) production.

    Appia's technical team is directed by James Sykes, who has had direct and indirect involvement with over 550 million lbs. U3O8 being discovered in five deposits in the Athabasca Basin.

    Appia has 65.0 million common shares outstanding, 85.9 million shares fully diluted.

    The technical content in this news release was reviewed and approved by Mr. Irvine R. Annesley, P.Geo, Advisor to the Board of Directors of Appia, and a Qualified Person as defined by National Instrument 43-101.

    Cautionary Note Regarding Forward-Looking Statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward- looking statements and shareholders are cautioned not to put undue reliance on such statements.

    Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

    For further information, please contact:

    Tom Drivas, President, CEO and Director: (tel) 416-546-2707, (fax) 416-218-9772 or (email)
    appia@appiaenergy.ca

    James Sykes, VP Exploration & Development, (tel) 306-221-8717, (fax) 416-218-9772 or (email) jsykes@uraniumgeologist.com

    Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) fvandewater@rogers.com

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    From: The Barracuda™5/7/2019 6:06:54 PM
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    Mike Alkin Sachem Cove Partners uranium report

    Sachem Cove Partners uranium

    In the end, Lewis Ranieri’s Mortgage Backed Security mutated into a monstrosity that collapsed the whole world economy. And none of the experts or leaders or talking heads had a clue it was coming... But there were some who saw it coming... While the whole world was having a big ol’ party, a few outsiders and weirdos saw what no one else could. (Not me, I’m not a weirdo. I’m pretty cool. We’ll meet later.) These outsiders saw the giant lie at the heart of the economy. And they saw it by doing something the rest of the suckers never thought to do: They looked.


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    From: LoneClone5/12/2019 6:10:45 PM
       of 18430
     
    Alba Enters into Definitive Agreement for Torado Vanadium and Uranium Project: 100% Interest in 5 Prospective Vanadium and Uranium Properties with Historic Production and a 6th Option for a Property with a Known Historic Resource

    accesswire.com

    Tuesday, May 7, 2019 1:55 AM


    VANCOUVER, BC / ACCESSWIRE / May 7, 2019 / Alba Minerals Ltd. ("Alba") (TSX - Venture: AA / Frankfurt: A117RU / OTC: AXVEF is pleased to announce that it has entered into an agreement with Journey Exploration Inc. ("Journey"), a private arms' length company, to acquire all of the issued and outstanding share capital of Journey. Journey holds a 100% interest in 5 prospective vanadium and uranium properties in Colorado and Utah in addition to an option to acquire 100% of a 6th property with a known historic resource. The properties are in and adjacent to the Uravan Mineral Belt which has seen extensive prospecting, exploration, drilling for and production of vanadium, uranium and radium since 1881.

    The following is an overview of the assets that will be acquired by Alba upon completion of the transaction with Journey.




    Figure 1 – Satellite view of locations of the 6 vanadium-uranium properties transferred by the agreement.

    La Sal West Property
    The La Sal West Property is comprised of 176 vanadium and uranium claims (3636.16 acres or 1472 hectares) located in the La Sal District of San Juan County, Utah approximately 20 miles (32km) southeast of Moab, Utah. The property is near the junction of US Highway 191 and Utah Highway 46 and can be easily accessed via dirt roads and 4-wheel drive trails leading off the highways. The La Sal West Property has seen considerable exploration and development over the years.

    Lyons Property
    The Lyons Property is comprised of 144 vanadium and uranium claims (2975.04 acres or (1204 hectares) located in the La Sal Creek Mining District of Montrose County, Colorado and abuts the Utah-Colorado border. The claims are adjacent to Colorado Highway 90, which is an extension of Utah Highway 46. The property is accessible by 4-wheel drives off the highway. Nine mines are shown within the Lyons claim block on the geologic map of the La Sal Quadrangle*.

    Polar Mesa Property
    The Polar Mesa Property is comprised of 181 vanadium and uranium claims (3,739.46 acres or 1513 hectares) located in the Gateway West Mining District of Grand County, Utah which lie north of the La Sal mountains. The Polar Mesa Property has seen extensive exploration and development over the years, of which, the estimated production from the Polar Mesa Camp to 1945 was reported to be 10,060 tons of ore at an estimated grade of 3.24% V2O5 and 0.46% U3O8 for a ratio of 1:7 of U3O8 to V2O5**.

    Slick Rock Property
    The Slick Rock Property is comprised of 158 vanadium and uranium claims (2604.28 acres or 1054 hectares) located in the Slick Rock Mining District of San Miguel County, Colorado. The claims occupy an area of undulating topography on a mesa that is covered in the most part by open grassy areas and scattered short scrubby trees. Elevation ranges from 7,000ft in the north to 8,080ft (2,130m – 2,460m) in the south eastern corner of the claim group. The area is readily accessible by roads, tracks and drill trails established by previous miners and explorers of the Spud Patch Group of Mines. Production from the Spud Patch area between 1940 and 1951 is reported to have been 24,000 tons at a grade of 2.2% V2O5 and 0.21% U3O8.

    Yellow Circle Property
    The Yellow Circle Property is comprised of 96 vanadium and uranium claims (2045.34 acres or 828 hectares) located in the Yellow Circle Mining District of San Juan County, Utah. Total production from the Yellow Circle Property is unknown, but in 1943 the mines were credited with 1,624 tons of ore averaging 1.65% V2O5***. During the Atomic Energy Commission's purchase program, 1948-70 inclusive, the Yellow Circle Mines produced 43,070 tons of ore that averaged 0.28% U3O8 and 1.52% V2O5****.

    Wray Mesa Property
    The Wray Mesa Property consists or two project areas, the Ajax and Dylan Projects, in the La Sal Trend of southeast Utah and southwest Colorado. The Ajax and Dylan are both located on the Utah side. Both projects have historic resource calculations conducted by Homeland Uranium, Inc. in 2007. At that time Homeland was focused on the uranium mineralization due to its higher value. They calculated the resource values listed in Table 1.

    Table 1 – Homeland Uranium Inc. historic resource estimates.


    Deposit
    Measured Resource
    Pounds U3O8

    Indicated Resource
    Pounds U3O8

    Inferred Resource
    Pounds U3O8

    Dylan

    85,501

    211,713

    -

    Ajax

    38,207

    57,178

    40,456

    As with other deposits in the region, these deposits also carry strong vanadium values with ratios ranging from 4:1 to 14:1 V2O5:U3O8 and averaging 6:1 for deposits in the La Sal Quadrangle (Carter and Gualtieri, 1965).

    The above values are presented here as documentation of a historical estimate for the Wray Mesa property. It is believed that these resource figures were created in 2007 by competent practitioners and are considered accurate for the timeframe in which they were created but have not been verified. There is insufficient information for the Qualified Person to classify these historical estimates as a resource under current CIM mineral resource standards and Alba is not treating them as current mineral resources.



    Figure 2 – One of many accessible adits on the Yellow Circle claims.

    Together, the properties total 762 mining claims covering approximately 15,697 acres (6352 hectares). All six of the properties have undergone historical exploration, development and/or production of vanadium and uranium.




    Figure 3 – Vanadium mineralization (dark grey to black coloration) in one of the Yellow Circle underground workings.

    These five properties (with option to acquire the 6th, Wray Mesa Property) are collectively referred to as the Torado Vanadium & Uranium Project. which are located in the vicinity of Energy Fuels Inc. Energy Fuels is currently producing a high-purity vanadium product at commercial rates from the tailings pond solutions at its 100%-owned White Mesa Mill (the "Mill"). The Mill is located within trucking distance of the Properties. Furthermore, Energy Fuels is currently considering going back into full production at the La Sal Complex where they are undergoing a test-mining program to recover vanadium, as further detailed in their release dated April 1, 2019 and available through SEDAR.

    "Alba's mission to become a global player in the Green Energy revolution has been significantly advanced by this acquisition. The procurement of this high-profile portfolio of properties, all with historical workings, mines, excellent infrastructure and significant data is exceedingly rare and makes Alba a major force in the vanadium/uranium exploration, development and production space in Utah and Colorado. This acquisition complements Alba's existing portfolio of lithium properties as well as our significant investment in Noram's 143 million ton lithium resource in Clayton Valley, Nevada" stated Sandy MacDougall, Chairman and Director.

    Journey is presently comprised of 32,000,000 shares issued and outstanding. Pursuant to the share exchange agreement dated May 6, 2019, Alba will acquire all of the issued and outstanding shares of Journey, thereby making Journey its wholly owned subsidiary, in consideration for which, Alba will issue the equivalent number of shares of Alba to the shareholders of Journey, subject to TSX Venture Exchange approval

    This transaction remains subject to TSX Venture Exchange approval.

    *Carter and Gualtieri, 1965
    ** Atomic Energy Commission, 1951
    *** Huleatt, et al. 1946
    **** Chenowith 1983








    Figure 4.- example of historic cart tracks inside mines.



    Figure 5 – example of infrastructure & workings inside mines

    The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is a Qualified Person with respect to the Torado Vanadium & Uranium Project as defined under National Instrument 43-101.

    About Alba Minerals Ltd.
    Alba Minerals Ltd. is a Vancouver-based junior resource company with projects in North and South America. Alba is focused on the development of the following mineral properties:

    3,800,000 common share ownership interest in Noram Ventures Ltd., a lithium exploration and development Company with a principal property known as the Zeus Property which hosts a 146,000,000 ton inferred resource in Clayton Valley, Nevada.

    The Quiron II Lithium Property consists of 2,421 hectares of prospective lithium exploration in the Pocitos Salar, Province of Salta, Argentina. The Property is located approximately 12 km northeast from the Liberty One Lithium Corp and 19 km from Pure Energy Minerals Ltd.'s Pocitos prospects.

    The Chascha Norte property consists of 2,843 hectares of prospective lithium exploration in the Southeastern part of the Salar de Arizaro, Salta, Argentina in closest vicinity to Argentina Lithium & Energy Corporation's and Lithium X's Arizaro lithium brine projects.

    The Rainbow Canyon Gold Property consists of 417 hectares of prospective gold exploration in the Olinghouse mining district, in the Washoe County Nevada.

    The Muddy Mountain property consists of 450.41 hectares of prospective lithium exploration in Muddy Mountains of Clark County, Nevada.

    Please visit our web site for further information: www.albamineralsltd.com .

    ON BEHALF OF THE BOARD OF DIRECTORS

    "Sandy MacDougall"
    Chairman & Director
    Phone: (778) 999-2159

    This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


    SOURCE: Alba Minerals Ltd.

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    From: LoneClone5/13/2019 11:06:21 AM
       of 18430
     
    Energy Fuels Announces Q1-2019 Results

    newswire.ca

    Energy Fuels Inc. May 08, 2019, 06:00 ET

    LAKEWOOD, CO, May 8, 2019 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU;TSX: EFR) ("Energy Fuels" or the "Company") today reported its financial results for the quarter ended March 31, 2019. The Company's quarterly report on Form 10-Q has been filed with the U.S. Securities and Exchange Commission ("SEC") and may be viewed on the Electronic Document Gathering and Retrieval System ("EDGAR") at www.sec.gov/edgar.shtml, on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, and on the Company's website at www.energyfuels.com. Unless noted otherwise, all dollar amounts are in U.S. dollars.

    Highlights:

    • At March 31, 2019, the Company had $47.3 million of working capital, including $15.3 million in cash, $17.5 million in marketable securities, 470,000 pounds of finished uranium goods inventory, and 270,000 pounds of finished vanadium goods inventory.
    • The Company successfully achieved commercial rates of vanadium production at the Company's White Mesa Mill (the "Mill"), producing the highest purity vanadium in the Mill's history. Vanadium production totaled 325,000 pounds of V2O5 for the quarter, and the Company expects to continue to produce 160,000 to 200,000 pounds of V2O5 per month over a 16-20 month period, subject to continued successful recovery and suitable sales prices.
    • Uranium production totaled 20,000 pounds of U3O8 during the quarter.
    • The Company completed no uranium sales during the quarter and continues to add to uranium inventories. The Company believes that uranium prices will improve and that it may be able to sell inventory at higher prices in the future.
    • The Company completed 53,000 pounds of vanadium sales into the steel industry during the quarter, following conversion of the Company's V2O5 product into ferrovanadium. The Company is continuing to convert V2O5 into ferrovanadium, while also evaluating the sale of certain quantities of high-purity V2O5 into specialty aerospace, chemical, and potentially the vanadium battery industries.
    • The Company continued a limited conventional vanadium test-mining program at its La Sal Complex. As of March 31, 2019, the Company had mined approximately 6,000 tons of mineralized material with an average grade of 1.44% V2O5 and 0.17% U3O8. While these numbers are not intended to represent the basis of a new resource estimate, the Company believes that the new mining methods that were tested are likely to result in reduced costs, higher grades, and higher value for mined material due to significantly improved grade control at the mine site. The Company completed test mining in April 2019 and plans to continue further operational readiness activities at the La Sal Complex based on these encouraging results.
    • Pursuant to Section 232 of the Trade Expansion Act of 1962 (as amended), on April 14, 2019, the U.S. Department of Commerce ("DOC") completed its investigation into the effects of uranium imports on U.S. national security (the "Section 232 Investigation") and submitted a report to the President of the United States containing their findings and proposed remedy (if any). The Company is seeking a remedy which would set a quota limiting imports of uranium into the U.S., effectively reserving 25% of the U.S. nuclear market for U.S. uranium production. If granted, the quota would be expected to strengthen uranium prices available to U.S. producers, thereby reviving an industry crucial to America's national security and the generation of clean, carbon-free nuclear energy.
    Mark S. Chalmers, Energy Fuels' President and CEO stated:

    "Energy Fuels continued to make important progress on a number of value-building initiatives in the first quarter of this year.

    "Some of our most noteworthy achievements have resulted from our continued support of the U.S. Department of Commerce's Section 232 investigation into U.S. uranium imports. On April 14, 2019, our efforts resulted in an important milestone. On that date, the DOC submitted a report to the White House containing the results of its investigation, along with proposed recommendations. President Trump now has up to 90 days from April 14, 2019 to decide whether and how to act on DOC's recommendations. As the report has not been made public, the Company has not seen the report. However, we believe the facts are crystal clear. Increasing levels of uranium and nuclear fuel imports into the U.S. from our geopolitical rivals represent a real threat to U.S. national security and energy security. We are proud to be one of the voices urging the President to act decisively to protect America on this key issue, and we will continue to support this initiative in the months ahead.

    "While we await the President's decision on the Section 232 investigation, one of our other key initiatives involves vanadium production, where we have made enormous strides to re-establish the Company as the only primary producer of vanadium in North America. In 2018, when vanadium prices began to rise over the $10 per pound threshold, we began evaluating the short-term recovery of dissolved vanadium from the pond solutions at our White Mesa Mill, a source of solubilized vanadium inventory we had never previously attempted to recover. Through the innovation, hard work, and dedication of our skilled milling professionals, we entered production toward the end of 2018 and began making sales in February 2019. We are actively producing significant quantities of the highest-purity vanadium in the Mill's history. Perhaps more importantly, since we have developed an effective processing methodology, we now have the ability to quickly and inexpensively adjust production in response to evolving market conditions. We are closely tracking market conditions, particularly in China where significant quantities of vanadium are produced and consumed. Prices currently sit at approximately $9.10 per pound and, if they remain at current levels or decline for any extended period of time, we may temporarily halt vanadium production in order to save this valuable inventory for higher future prices. Regardless of what happens to markets, we have created the potential to rapidly generate significant cash flows during periods of elevated vanadium prices.

    "We also believe we have created significant shareholder value through the test-mining program at our La Sal Complex. As we have previously reported, under this program we analyzed mining methods and technologies never before utilized in the uranium/vanadium mines of the Colorado Plateau. Our results are extremely encouraging, potentially changing the paradigm for mining these deposits by significantly improving grade control. If successful, this would reduce mining, milling and trucking costs, and potentially improve Mill recovery for vanadium since the higher the vanadium grade fed into the Mill, the higher the percentage of vanadium recovered.

    "In short, we believe we are clearly demonstrating that Energy Fuels is not just another uranium company waiting for prices to recover. We are committed to realizing value and leveraging our assets wherever we can. We look forward to providing further updates on our progress in the months ahead."

    Selected Summary Financial Information:







    $000, except per share data

    Three months ended
    March 31, 2019

    Three months ended
    March 31, 2018

    Results of Operations:



    Total revenues

    $

    1,670

    $

    1,254

    Operating loss

    (10,122)

    (10,400)

    Net loss attributable to the company

    (12,127)

    (10,822)

    Basic and diluted loss per share

    (0.13)

    (0.14)




    $000's

    As at
    March 31, 2019

    As at
    December 31, 2018

    Financial Position:



    Working capital

    $

    47,256

    $

    52,000

    Property, plant and equipment

    29,017

    29,843

    Mineral properties

    83,539

    83,539

    Total assets

    190,341

    196,766

    Total long-term liabilities

    47,306

    43,059




    Outlook

    Overview

    Operations and Sales Outlook Overview

    The Company plans to extract and/or recover uranium from its Nichols Ranch Project in 2019. In addition, during 2019 the Company expects to extract and/or recover vanadium, and potentially uranium, from pond solutions at its White Mesa Mill, subject to continued successful recovery and suitable sales prices.

    As a result of improved vanadium market conditions in 2018, the Company began its current campaign in early 2019 to recover between two and a half (2.5) and four (4) million pounds of vanadium from existing pond solutions at the White Mesa Mill, which result from past mineral processing campaigns, over the 16 to 20 month expected life of the program.

    Extraction and Recovery Activities Overview

    During the quarter ended March 31, 2019, the Company recovered approximately 20,000 pounds of U3O8. In the year ending December 31, 2019, the Company expects to recover approximately 50,000 to 125,000 pounds of U3O8. The Company also recovered 325,000 pounds of high-purity vanadium pentoxide ("V2O5" or "black flake"), during the quarter ended March 31, 2019, and expects to continue to recover approximately 160,000-200,000 pounds of V2O5 per month over the life of the program, subject to continued successful recovery and depending on the availability of suitable sales prices.

    The Company has entered into no uranium sales commitments for 2019 thus far. Therefore, all 2019 uranium production is expected to be added to existing inventories. All V2O5 production is expected to be sold on the spot market or maintained in inventory.

    Both ISR and conventional uranium extraction and/or recovery are expected to continue to be maintained at reduced levels until such time as improvements in uranium market conditions are observed or suitable sales contracts can be procured. Continued vanadium production will depend on the continued availability of suitable vanadium spot prices.

    ISR Activities

    During the quarter ended March 31, 2019, we extracted and recovered approximately 20,000 pounds of U3O8 from the Nichols Ranch Project. In the year ending December 31, 2019, the Company expects to produce approximately 50,000-70,000 pounds of U3O8 from Nichols Ranch.

    At March 31, 2019, the Nichols Ranch wellfields had nine header houses extracting uranium. Until such time as improvement in uranium market conditions is observed or suitable sales contracts can be procured, the Company intends to defer development of further header houses at its Nichols Ranch Project. The Company currently holds 34 fully-permitted, undeveloped wellfields at Nichols Ranch, including four additional wellfields at the Nichols Ranch wellfields, 22 wellfields at the adjacent Jane Dough wellfields, and eight wellfields at the Hank Project, which is fully permitted to be constructed as a satellite facility to the Nichols Ranch Plant.

    The Company expects to continue to keep the Alta Mesa ISR Project on standby until such time as improvements in uranium market conditions are observed or suitable sales contracts can be procured.

    Conventional Activities

    Conventional Extraction and Recovery Activities

    During the quarter ended March 31, 2019, the White Mesa Mill recovered no uranium due to the its focus on vanadium recovery.

    During the quarter, the Company produced 325,000 pounds of high-purity V2O5 from its Mill pond return program. The Company is currently producing at full-production rates of 160,000 to 200,000 pounds of V2O5 per month. The Company expects to continue to recover V2O5 at these rates throughout 2019, subject to continued successful recovery and depending on the availability of suitable sales prices. If vanadium prices remain at current levels or decline, the Company may curtail or stop vanadium production during the year, pending improvements in vanadium prices. One of the benefits of the Mill's vanadium pond return program is that it can be stopped and restarted relatively quickly in response to changes in vanadium market conditions.

    In addition, the Company is evaluating whether uranium can be extracted, concurrent with its vanadium recovery, from the pond solutions. If the Company determines such recovery is possible, it expects that up to approximately 55,000 pounds of U3O8 could potentially be recovered at the White Mesa Mill in 2019 from those activities.

    The Company currently expects that planned vanadium and other processing activities will keep the Mill in operation through the end of 2019 and into 2020. The Company is also actively pursuing opportunities to process new and additional alternate feed sources and low-grade ore from third parties in connection with various uranium clean-up requirements. In addition, if improvements in uranium market conditions are observed as a result of the Section 232 Investigation or otherwise, the Company would expect to be able to procure suitable long-term sales contracts to keep the Mill operating over a considerably longer period of time.

    Conventional Standby, Permitting and Evaluation Activities

    During the quarter ended March 31, 2019, the Company continued its test-mining program targeting vanadium at the fully-permitted La Sal Complex located on the Colorado Plateau, which it completed in April 2019, in addition to pursuing enhanced operational readiness targeting future commercial production. The goal of the program was to evaluate different mining approaches that selectively target high-grade vanadium zones, thereby potentially increasing productivity and mined grades for vanadium and decreasing mining costs per pound of V2O5 and U3O8. During this program, the Company refurbished the La Sal and Pandora mines within the La Sal Complex and extracted approximately 6,000 tons of mineralized material. The Company expects to continue readiness activities throughout 2019. In addition, the Company expects to complete a surface and underground drilling program at the La Sal Complex by mid-2019 in order to potentially expand the known uranium and/or vanadium resources available to mine.

    Sales

    During the quarter ended March 31, 2019, the Company completed no uranium sales. The Company currently has no remaining contracts and is therefore fully unhedged to future uranium price increases.

    The Company continued V2O5 shipments during the quarter ended March 31, 2019 with initial quantities being allocated for conversion to ferrovanadium ("FeV"), which is currently being sold into spot metallurgical markets. During the quarter, the Company completed sales of 53,000 pounds of vanadium at an average price of $20.40 per pound. The Company expects to continue to sell finished vanadium product as it is produced into the metallurgical industry, as well as other markets that demand a higher purity product, including the aerospace, chemical and potentially the vanadium battery industries. The Company expects to sell to a diverse group of customers in order to maximize revenues and profits. The Company is continuing to produce a high-purity vanadium product of 99.6%-99.7% V2O5. The Company believes there may be opportunities to sell certain quantities of this high-purity material at a premium to reported spot prices. The Company may also retain vanadium product in inventory for future sale, depending on vanadium spot prices at the time of production.

    The Company also continues to pursue new sources of revenue, including additional alternate feed materials and other sources of feed, for the White Mesa Mill.

    Trade Petition

    In January 2018, the Company participated in the joint filing of a Petition for Relief under Section 232 of the Trade Expansion Act of 1962 (as amended) from Imports of Uranium Products that Threaten National Security (the "Petition"). On April 14, 2019, the DOC completed the Section 232 Investigation and submitted a report to the President of the United States containing their findings and proposed remedy (if any). From April 14, 2019, the President has 90 days to act on the DOC's recommendations and, if necessary, take action to adjust imports or pursue other lawful, non-trade-related actions to address the national security threat. The Petition describes how uranium and nuclear fuel from state-owned and state-subsidized enterprises in Russia, Kazakhstan, Uzbekistan, and China potentially represent a threat to U.S. national security. The Petition seeks a remedy which would set a quota to limit imports of uranium into the U.S., effectively reserving 25% of the U.S. nuclear market for U.S. uranium production. Additionally, the Petition suggests implementation of a requirement for U.S. federal utilities and agencies to buy U.S. uranium in accordance with the President's Buy American Policy. The remedies, if granted, would be expected to strengthen the U.S. uranium mining industry, bolster national defense, and improve supply diversification for U.S. utilities and their customers. The Company intends to continue its support of this action during 2019. It should be noted, however, that there can be no certainty of the outcome of the Section 232 Investigation and, therefore, the outcome of this process is uncertain.

    About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant. Its corporate offices are in Lakewood, Colorado near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery ("ISR") Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant. The Nichols Ranch ISR Project is in operation and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.

    Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable Canadian and United States securities legislation, which may include, but is not limited to, statements with respect to: production and sales forecasts; costs of production; scalability, and the Company's ability and readiness to re-start or expand any of its existing projects to respond to any improvements in uranium market conditions; any expectations regarding vanadium opportunities, the Company's program for the recovery of vanadium from pond solutions, or the Company's ability to sell any of its vanadium product at a premium to spot prices or otherwise; the ability to quickly and inexpensively adjust vanadium production in response to evolving market conditions; the ability to generate cash flows during periods of elevated vanadium prices; the expected results from the vanadium test-mining program; the ability of the Company to secure any new sources of alternate feed materials or other processing opportunities at the White Mesa Mill; expected timelines for the permitting and development of projects; the Company's expectations as to longer term fundamentals in the market and price projections; expectations to become or maintain its position as a leading uranium company in the United States; any threats to national security and energy security; and the outcome of the Department of Commerce Section 232 investigation, including the nature of the Secretary of Commerce's recommendation to the President of the United States; whether or not the President will act on the recommendation and, if so, the nature of the action and remedy; and the expected benefits of the proposed remedies. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: production and sales forecasts; costs of production; scalability, and the Company's ability and readiness to re-start or expand any of its existing projects to respond to any improvements in uranium market conditions; any expectations regarding vanadium opportunities, the Company's program for the recovery of vanadium from pond solutions, or the Company's ability to sell any of its vanadium product at a premium to spot prices or otherwise; the ability to quickly and inexpensively adjust vanadium production in response to evolving market conditions; the ability to generate cash flows during periods of elevated vanadium prices; the expected results from the vanadium test-mining program; the ability of the Company to secure any new sources of alternate feed materials or other processing opportunities at the White Mesa Mill; expected timelines for the permitting and development of projects; the Company's expectations as to longer term fundamentals in the market and price projections; expectations to become or maintain its position as a leading uranium company in the United States; any threats to national security and energy security; and the outcome of the Department of Commerce Section 232 investigation, including the nature of the Secretary of Commerce's recommendation to the President of the United States; whether or not the President will act on the recommendation and, if so, the nature of the action and remedy; the expected benefits of the proposed remedies; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company's website at www.energyfuels.com. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

    SOURCE Energy Fuels Inc.

    For further information: Investor Inquiries: Energy Fuels Inc., Curtis Moore, VP - Marketing and Corporate Development, (303) 974-2140 or Toll free: (888) 864-2125, investorinfo@energyfuels.com, www.energyfuels.com

    Related Links energyfuels.com

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    To: LoneClone who wrote (18173)5/13/2019 11:07:14 AM
    From: LoneClone
       of 18430
     
    Edited Transcript of CCO.TO earnings conference call or presentation 1-May-19 5:00pm GMT

    ca.finance.yahoo.com

    Thomson Reuters StreetEventsMay 8, 2019

    Q1 2019 Cameco Corp Earnings Call

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    To: LoneClone who wrote (18174)5/13/2019 11:12:01 AM
    From: LoneClone
       of 18430
     
    Uranium Participation Corporation Reports Estimated Net Asset Value at April 30, 2019

    ca.finance.yahoo.com

    CNW GroupMay 9, 2019

    TSX Trading symbol: U

    TORONTO, May 9, 2019 /CNW/ - Uranium Participation Corporation ("UPC") (TSX:U) reports its estimated net asset value at April 30, 2019 was CAD$608.4 million or CAD$4.41 per share. As at April 30, 2019, UPC's uranium investment portfolio consisted of the following: View PDF Version

    (in thousands of Canadian dollars, except quantity amounts)


    Quantity

    Fair Value



    Investments in Uranium:




    Uranium oxide in concentrates ("U3O8")


    14,159,354 lbs

    $ 479,904

    Uranium hexafluoride ("UF6")


    1,117,230 KgU

    $ 123,722




    $ 603,626

    U3O8 fair value1 per pound:




    - In Canadian dollars1



    $ 33.89

    - In United States dollars



    $ 25.25

    UF6 fair value1 per KgU:




    - In Canadian dollars1



    $ 110.74

    - In United States dollars



    $ 82.50






    1 Fair values are month-end spot prices published by Ux Consulting Company, LLC, translated at the Bank of Canada's month-end daily exchange rate of $1.3423.




    On the last trading day of April 2019, the common shares of UPC closed on the TSX at a value of CAD$4.34, which represents a 1.59% discount to the net asset value of CAD$4.41 per share.

    About Uranium Participation Corporation

    Uranium Participation Corporation is a company that invests substantially all of its assets in uranium oxide in concentrates ("U3O8") and uranium hexafluoride ("UF6") (collectively "uranium"), with the primary investment objective of achieving appreciation in the value of its uranium holdings through increases in the uranium price. UPC provides investors with a unique opportunity to gain exposure to the price of uranium without the resource or project risk associated with investing in a traditional mining company. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on UPC's website at www.uraniumparticipation.com.

    Caution Regarding Forward-Looking Information

    This press release contains certain forward-looking statements and forward-looking information that are based on UPC's current internal expectations, estimates, projections, assumptions and beliefs. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intent", "estimate", "anticipate", "plan", "should", "believe" or "continue" or the negative thereof or variations thereon or similar terminology and include statements with respect to UPC's investment objectives.

    By their very nature, forward-looking statements involve numerous factors, assumptions and estimates. A variety of factors, many of which are beyond the control of UPC, may cause actual results to differ materially from the expectations expressed in the forward-looking statement. These factors include, but are not limited to, changes in commodity prices and foreign exchange as well as the risk that UPC will not obtain the anticipated benefits of its agreements with third parties. For a description of the principal risks of UPC, see "Risk Factors" in UPC's Annual Report dated April 4, 2019 for the year ended February 28, 2019, a copy of which is available on UPC's website or under its profile at www.sedar.com.

    These and other factors should be considered carefully, and readers are cautioned not to place undue reliance on these forward-looking statements. Although management reviews the reasonableness of its assumptions and estimates, unusual and unanticipated events may occur which render them inaccurate. Under such circumstances, future performance may differ materially from those expressed or implied by the forward-looking statements. Except where required under applicable securities legislation, UPC does not undertake to update any forward-looking information statement.

    SOURCE Uranium Participation Corporation


    View original content: newswire.ca

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    To: LoneClone who wrote (18175)5/13/2019 11:23:30 AM
    From: LoneClone
       of 18430
     
    ALX Uranium Announces Results from the Winter 2019 Drilling Program at the Hook-Carter Uranium Project, Athabasca Basin, Saskatchewan

    newsfilecorp.com

    Vancouver, British Columbia--(Newsfile Corp. - May 2, 2019) - ALX Uranium Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce results from the Hook-Carter Uranium Project ("Hook-Carter", or the "Project") winter 2019 drilling program which began in early January 2019 (see ALX news release dated January 9, 2019). Exploration at Hook-Carter is operated by Denison Mines Corp. ("Denison") (TSX: DML) (NYSE MKT: DNN). The Project lies within the highly-prospective Patterson Lake Corridor ("PLC") and is owned 80% by Denison and 20% by ALX.

    Winter 2019 Drilling Program

    The winter 2019 program consisted of 4,797 metres of diamond drilling in six completed holes to test high-priority geophysical targets developed by Denison which were identified from the resistivity and moving loop time-domain electromagnetic (MLTEM) surveys carried out in 2017 within the interpreted extension of the PLC. The winter 2019 drilling program was designed as a continuation of the 2018 winter and summer drilling programs which included 6,960 metres in nine holes.

    Favorable structure and alteration was encountered in the majority of the drill holes completed in the 2019 drilling program and initial geochemical results received to date show significant concentrations of uranium pathfinder elements, which indicate the presence of a mineralizing system on Hook-Carter. Completion of the 2018 and 2019 drilling programs has provided reconnaissance level drill hole coverage along the PLC at an approximate 1,200 metre spacing throughout the 2017 geophysical survey area. These reconnaissance drill holes form an important initial repository of drilling data, which is expected to be used to prioritize target horizons and plan future exploration programs.

    Highlights of the winter 2019 drill holes are as follows:

  • HC19-015 tested a resistivity target that is coincident with a historical electromagnetic anomaly located along the eastern edge of the 2017 geophysical grid. Weak dravite and pyrite alteration was noted mostly in the upper portions of the sandstone column. The basal 30 metres of sandstone were desilicified with several unconsolidated sections. Basement lithologies encountered included a graphitic breccia and a weakly graphitic pelite unit. Pervasive strong quartz flooding was observed throughout the basement and elevated radioactivity of up to 350 cps was measured with a hand-held RS-125 scintillometer in a hematized zone below the unconformity. Geochemical results for HC19-015 are pending.



  • HC19-014A and HC19-013A tested two electromagnetic targets located along the northeastern portion of the 2017 geophysical grid. HC19-013A encountered multiple zones of strongly brecciated, faulted and hydrothermally altered sandstone, particularly near the unconformity. Strongly silicified pelitic gneisses and a graphite-rich pelitic gneiss were intersected within the basement that exhibited extensive shearing, faulting and brecciation. Elevated radioactivity (up to 170 cps with a handheld RS-125 spectrometer) was recorded in some of the fault zones in the basement. Collared approximately 1.2 kilometres northeast of HC19-013A, drill hole HC19-014A encountered similar sandstone structure and alteration; however, it was restricted to the basal portion of the sandstone column. A massive white clay zone approximately three metres in thickness was encountered at the unconformity. HC19-014A encountered strongly sheared, faulted and brecciated graphitic pelitic gneiss in the basement. Strong clay alteration and hematization followed the graphitic unit extending approximately 10 metres into the underlying quartz-flooded granitic gneiss. Geochemical results for HC19-013A and HC19-014A are pending.

  • HC19-012 targeted a strong electromagnetic anomaly in the central portion of the 2017 geophysical survey area. The hole was designed to test the basement below historical drill hole HK-002. Sandstone structure in drill hole HC19-012 included several narrow zones of blocky and locally brecciated core. Significant hydrothermal alteration was also noted in the sandstone. Geochemical samples analyzed from this hole returned strongly anomalous boron values of up to 1,000 ppm for the entire sandstone column. Structurally-controlled clay alteration was observed in multi-metre sections. A weakly to moderately bleached, locally sheared, weakly graphitic unit was intersected in the basement of drill hole HC19-012 below HK-002.
  • HC19-011 tested a roughly coincident electromagnetic-resistivity anomaly located along the eastern edge of the 2017 geophysical grid. Drill hole HC19-011 intersected moderate to locally strong hydrothermal alteration in the sandstone and weakly elevated radioactivity in hematized clay near the unconformity (up to 225 cps with a handheld RS-125 spectrometer). Elevated levels of boron (up to 3,320 ppm) were returned in the sandstone and immediately below the unconformity. It has been interpreted that HC19-011 likely overshot the optimal target and additional targets may exist to the southeast on section.
  • HC19-010A targeted a resistivity anomaly located 900 metres along strike to the northeast of HC19-011. The hole intersected weak to moderate hydrothermal alteration in the sandstone. Geochemistry results returned anomalous boron values of up to 762 ppm throughout the sandstone column.



  • About Hook-Carter

    Hook-Carter consists of 82 claims covering 24,262 hectares and is located approximately 180 kilometres (155 miles) northwest of La Loche, SK. The Project is located along the prolific Patterson Lake Corridor - host to the Triple R uranium deposit (Fission Uranium Corp.), the Arrow uranium deposit and the Harpoon, Bow and South Arrow uranium discoveries (NexGen Energy Ltd.), and the Spitfire, Hornet and Dragon uranium discoveries (a joint venture of Purepoint Uranium Group Inc., Cameco Corp., and Orano Canada Inc.). When Denison acquired its interest in the Project in November 2016, Denison agreed to fund the first $12.0 million of expenditures at Hook-Carter (see ALX news releases dated October 13, 2016 and November 7, 2016). Exploration expenditures to date by Denison total approximately $6.6 million.

    The 2018 inaugural drilling programs at Hook-Carter tested an initial set of regional scale geophysical targets along 7.5 of the 15 kilometres of interpreted strike length of the PLC at the Project. The nine completed reconnaissance holes, totaling 6,960 metres, successfully identified multiple prospective trends of strong hydrothermal alteration in both the sandstone and basement lithologies associated with graphitic basement structures. These features are consistent with unconformity-related mineralizing systems in Athabasca Basin uranium deposits and provide a strong indication of the continuation of the mineralizing system within the PLC at Hook-Carter.

    To view maps of Hook-Carter's location along the Patterson Lake Corridor and the 2019 drilling plan, please click here.

    Technical information in this news release has been reviewed and approved by Sierd Eriks, P.Geo., President and Chief Geologist of the Company, who is a Qualified Person, in accordance with the Canadian regulatory requirements as set out in National Instrument 43-101.

    About ALX

    ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in northern Saskatchewan, Canada. The Company executes well-designed exploration programs using the latest technologies and has interests in over 200,000 hectares in Saskatchewan, a Province which hosts the richest uranium deposits in the world, a producing gold mine, and demonstrates potential for economic base metals deposits. ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF". Technical reports are available on SEDAR at www.sedar.com for several of the Company's active properties.

    For more information about the Company, please visit the ALX corporate website at www.alxuranium.com or contact Roger Leschuk, Manager, Corporate Communications at Ph: 604.629.0293 or Toll-Free: 1.866.629.8368, or by email: rleschuk@alxuranium.com

    On Behalf of the Board of Directors of ALX Uranium Corp.

    "Warren Stanyer"

    Warren Stanyer, CEO and Chairman

    FORWARD LOOKING STATEMENTS

    Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release for example include and are not limited to the results of the 2019 drilling program by Denison at Hook-Carter, and the anticipated benefits of future planned programs. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended acquisitions, exploration or development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Year Ended December 31, 2018, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward looking statement risk factors.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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    From: The Barracuda™5/14/2019 7:38:23 AM
       of 18430
     
    Get ready to rumble


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    From: LoneClone5/14/2019 6:53:34 PM
       of 18430
     
    Anfield Energy Engages BRS Engineering to Complete a PEA for the Charlie Uranium Project

    globenewswire.com

    May 13, 2019 07:00 ET | Source: Anfield Energy Inc.

    VANCOUVER, British Columbia, May 13, 2019 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it has engaged BRS Engineering to complete a Preliminary Economic Assessment (PEA) for the recently-acquired Wyoming-based Charlie Uranium Project (“Charlie Project”). The PEA is expected to be completed by the end of June 2019. Anfield had previously issued a revised mineral resource technical report for the Charlie Project, entitled “Charlie Uranium Project Mineral Resource NI 43-101 Technical Report, Johnson County, Wyoming, USA” and dated February 7, 2019. This report is filed on SEDAR and states the following estimated mineral resources:

    An Indicated Mineral Resource of 1,255,000 tons with an average grade of 0.123% eU3O8 (equivalent to an Indicated Resource of 3,100,000 pounds of eU3O8); and
    An Inferred Mineral Resource of 411,000 tons with an average grade of 0.12% eU3O8 (equivalent to 988,000 pounds of eU3O8). Corey Dias, Anfield CEO, states, “We are pleased to begin the process of moving Charlie forward through the commissioning of a Preliminary Economic Assessment. We believe that, when combined with our Resin Process Agreement with Uranium One, this project will place Anfield in a strong position for potential future production. Moreover, with the U.S. Department of Commerce’s Section 232 recommendation before the White House to implement a supportive U.S. uranium policy, a positive outcome could prove a boon to companies such as Anfield with a U.S. production horizon”.

    About BRS

    BRS, Inc. is an engineering and geology consulting corporation with expertise in mining and mineral exploration. Of particular note, it specializes in uranium exploration, mineral resource evaluation, mine design, feasibility, mine operations, and reclamation. It has completed numerous uranium projects including technical reports and feasibility studies for underground, open pit, ISR, and conventional uranium mills. Representative projects include technical reports and due diligence for project financing for conventional uranium projects including the Sheep Mountain and the JAB-RD open pit in Wyoming, the Cibola Project in New Mexico, the Coles Hill, Virginia open pit and underground mine, and numerous ISR uranium projects in Wyoming and Paraguay.

    Douglas L. Beahm, P.E., P.G., the principal engineer at BRS, is a Qualified Person as defined in NI 43-101 with 40 years of professional and managerial experience. Mr. Beahm has a proven track record in a variety of mining and mine reclamation projects including surface and underground mining, heap leach recovery, ISR, and uranium mill tailings projects. Mr. Beahm’s experience includes coal, precious metals, and industrial minerals, but his emphasis throughout his career has been on uranium.

    About Anfield

    Anfield is a uranium and vanadium development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two asset centres, as summarized below:

    Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)

    Anfield has signed a Resin Processing Agreement with Uranium One whereby Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray processing plant in Wyoming. In addition, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its sales contracts.

    Anfield’s 24 ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming. Anfield’s two projects in Wyoming for which NI 43-101 resource reports have been completed are Red Rim and Clarkson Hill.

    The Charlie Project, the asset which was the core component of a recently-announced transaction between Anfield and Cotter Corporation, is located in the Pumpkin Buttes Uranium District in Johnson County, Wyoming. The Charlie Project consists of a 720-acre Wyoming State uranium lease which has been in development since 1969. An NI 43-101 resource report has been completed for the Charlie Project.

    Arizona/Utah/Colorado – Shootaring Canyon Mill

    A key asset in Anfield’s portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.

    Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah, Colorado and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, the West Slope Project as well as the Findlay Tank breccia pipe. An NI 43-101 Preliminary Economic Assessment has been completed for the Velvet-Wood Project. The PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment would be realized. All conventional uranium assets are situated within a 200-mile radius of the Shootaring Mill.

    On behalf of the Board of Directors
    ANFIELD ENERGY INC.
    Corey Dias, Chief Executive Officer

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contact:
    Anfield Energy, Inc.
    Clive Mostert
    Corporate Communications
    780-920-5044
    contact@anfieldenergy.com
    www.anfieldenergy.com

    Safe Harbor Statement
    THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.

    EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH SEEKING THE CAPITAL NECESSARY TO COMPLETE THE PROPOSED TRANSACTION, THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION, THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.

    THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.




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