The PEA significantly de-risks Anfield's development story and implies massive upside if realized. Monitor the upcoming NI 43-101 technical report (due within 45 days), financing announcements for the $117M capex, and uranium price movements. Given the micro-cap nature, any positive news flow could drive outsized moves.
Price Chart
Executive Summary
Anfield Energy released an updated Preliminary Economic Assessment (PEA) for its Utah and Colorado uranium/vanadium projects, showing a pre-tax IRR of 106%, NPV of $606M, and 1.3-year payback. The PEA outlines a hub-and-spoke model with average annual production of 1.3M lbs U3O8 and 6.4M lbs V2O5 over 15 years, requiring ~$117M in initial capital. For a $89M market cap company, this PEA represents a potentially transformative development, though it remains preliminary and subject to financing and permitting risks.
Key Facts
- Pre-tax IRR of 106% and NPV of US$606 million at 8% discount rate
- Post-tax IRR of 97% and NPV of US$533 million
- Average annual production: 1.3M lbs uranium, 6.4M lbs vanadium over 15 years
- Initial capital expenditure of ~US$97 million plus US$20 million in first production year
- Life-of-mine capital expenditure of US$173 million
- Payback period of 1.3 years
- Combined measured/indicated resources for Velvet-Wood: 4.3M lbs eU3O8 at 0.34% grade
Financial Impact
Project NPV of US$606M pre-tax vs $89M market cap; IRR of 106%
Risk Factors
- PEA is preliminary and includes inferred resources; no guarantee of economic viability
- Requires ~$117M in initial capital for a company with minimal cash flow
- Commodity price sensitivity: 10% change in uranium/vanadium prices changes NPV by ~$136M
- Permitting, licensing, and construction risks for the Shootaring mill
- Historical T+20 performance on prior filings shows negative returns despite positive news
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-002968 |
| Document: f6k_050426.htm | 0001171843-26-002968 |
| Document: 0001171843-26-002968-index-headers.html | 0001171843-26-002968 |
| Document: 0001171843-26-002968-index.html | 0001171843-26-002968 |
| Document: 0001171843-26-002968.txt | 0001171843-26-002968 |
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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