Anfield Energy to buy uranium project in New Mexico from enCore Energy

Anfield Energy

06/06/2023 12:48

June 6 (Reuters) - Canada-based Anfield Energy  AEC.V 
said on Tuesday it will buy the Marquez-Juan Tafoya uranium
project in New Mexico from enCore Energy's  EU.V  wholly-owned
subsidiary Neutron Energy for C$16.1 million ($11.99 million).
    Anfield will acquire the project, with historical indicated
uranium resources of 18.1 million pounds, for C$5 million in
cash and 185 million of its common shares, it said in a
statement.  
    The acquisition will increase Anfield's uranium resource
base by more than 60%, its chief executive Corey Dias said.
    The uranium project went through extensive mineral
exploration by drilling and defined significant uranium
resources in the 1970s and early 1980s, Anfield added.
    Upon closing of the deal, expected on or before July 21,
2023, enCore will have the right to one seat on the board of
directors of Anfield as long as enCore holds at least 10% of the
issued shares of Anfield. 


($1 = 1.3424 Canadian dollars)

 (Reporting by Arshreet Singh; Editing by Nivedita
Bhattacharjee)
 ((Arshreet.Singh@thomsonreuters.com; Twitter: https://twitter.com/Arshreets))