The PEA presents a highly attractive economic case, but the company must secure ~$97M in financing and obtain necessary permits to advance the project. Monitor progress on license conversion at Shootaring Mill and any equity/debt offerings to fund development. The stock may re-rate on milestones, but execution risk is high.
Price Chart
Executive Summary
Anfield Energy filed an updated Preliminary Economic Assessment (PEA) for its hub-and-spoke uranium/vanadium strategy, showing a pre-tax IRR of 106% and NPV of US$606M at $100/lb uranium and $9/lb vanadium. The PEA outlines a 15-year mine life with average annual production of 1.3M lbs U3O8 and 6.4M lbs V2O5, requiring ~$97M in initial capex with a 1.3-year payback. While the economics are compelling relative to the $79M market cap, the PEA is preliminary and execution risks (financing, permitting, commodity prices) remain significant.
Key Facts
- Pre-tax IRR of 106% and NPV of US$606 million (8% discount rate) at $100/lb U3O8 and $9/lb V2O5
- Post-tax IRR of 97% and NPV of US$533 million
- Average annual production: ~1.3M lbs U3O8 and ~6.4M lbs V2O5 over 15-year mine life
- Initial capital expenditure estimated at ~US$97 million (including 20% contingency) plus US$20 million in first production year
- Life-of-mine total cost estimated at US$173 million including sustaining capital
- Payback period of 1.3 years
- PEA is preliminary and includes inferred mineral resources; no certainty the outcomes will be realized
Financial Impact
Pre-tax NPV of US$606M vs. market cap of $79M (7.7x); pre-tax IRR of 106%
Risk Factors
- Commodity price risk: uranium and vanadium prices may fall below PEA assumptions ($100/lb U, $9/lb V)
- Financing risk: need to raise ~$97M in initial capex, likely dilutive
- Permitting and regulatory delays for mill restart and mine development
- Technical risk: PEA is preliminary; inferred resources may not convert to reserves
- Historical stock performance on positive catalysts has been poor (17% win rate at T+20)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-004191 |
| Document: f6k_061826.htm | 0001171843-26-004191 |
| Document: 0001171843-26-004191-index-headers.html | 0001171843-26-004191 |
| Document: 0001171843-26-004191-index.html | 0001171843-26-004191 |
| Document: 0001171843-26-004191.txt | 0001171843-26-004191 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | 6-K | $3.68 $3.83 | ▲ +4.08% | ▲ +1.95% | $3.44 (−6.52%) |
Sep 10, 2026 22d ago | 6-K | $4.11 $3.74 | ▼ −9.00% | ▼ −8.50% | $3.44 (−16.30%) |
Aug 14, 2026 7w ago | 6-K | $4.23 $4.66 | ▼ −10.17% | ▼ −11.53% | $3.44 (+18.68%) |
Aug 1, 2026 8w ago | Press Release | $3.97 $4.30 | ▲ +8.31% | ▲ +6.29% | $3.44 (−13.35%) |
Jul 30, 2026 9w ago | 6-K | $3.96 $4.11 | ▼ −3.79% | ▼ −0.17% | $3.44 (+13.13%) |
Jul 30, 2026 9w ago | 6-K | $3.96 $4.11 | ▼ −3.79% | ▼ −0.17% | $3.44 (+13.13%) |
Jul 9, 2026 12w ago | 6-K | $4.19 $4.36 | ▲ +4.06% | ▲ +4.19% | $3.44 (−17.90%) |
Jul 7, 2026 12w ago | 6-K | $4.18 $4.53 | ▲ +8.37% | ▲ +7.82% | $3.44 (−17.70%) |
Jun 30, 2026 13w ago | 6-K | $4.37 $4.49 | ▲ +2.75% | ▲ +2.14% | $3.44 (−21.28%) |
Jun 18, 2026 15w ago | 6-K | $5.09 $4.01 | ▼ −21.22% | ▼ −19.55% | $3.44 (−32.42%) |
US Market Status
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