Anfield Energy’s Hub-and-Spoke PEA Yields 106% IRR, US$606M NPV
AEC•The updated PEA shows a pre-tax IRR of 106% and NPV of US$606 million (post-tax IRR 97%, NPV US$533 million) at US$100/lb uranium and US$9/lb vanadium, with a 1.3-year capex payback. Over a 15-year mine life, combined projects will produce approximately 1.3 million pounds of uranium and 6.4 million pounds of vanadium annually, supported by US$80.1 million in mill upgrades and US$37.5 million in mine capital.
1. Updated PEA Economics
The Preliminary Economic Assessment models eight proximal projects feeding the Shootaring Canyon Mill under a discount rate of 8%, a uranium price of US$100 per pound and a vanadium price of US$9 per pound. It projects a pre-tax IRR of 106% with an NPV of US$606 million and a post-tax IRR of 97% with an NPV of US$533 million.
2. Production Forecast
Over the 15-year mine life, the Velvet-Wood, Slick Rock and West Slope assets are expected to deliver average annual outputs of 1.3 million pounds of U₃O₈ and 6.4 million pounds of V₂O₅, peaking at 1.9 million pounds of uranium and 7.8 million pounds of vanadium in the highest production year.
3. Capital Expenditures
Mill-related upgrades total US$80.1 million, including general upgrades, a modern vanadium circuit and tailings facility updates, while mine development requires US$37.5 million for engineering, equipment and shaft work, offset by US$23.2 million from initial uranium stockpile sales. The combined capex payback is estimated at 1.3 years.
4. Hub-and-Spoke Model and Future Growth
Anfield’s strategy centralizes processing at Shootaring, leveraging Velvet-Wood, Slick Rock and West Slope feed. The study highlights low incremental costs to integrate 13 DOE leases and the potential Marquez-Juan Tafoya mine to extend production or expand throughput, enhancing long-term shareholder value.
