Monitor for posting of the financial warranty and issuance of the DRMS reclamation permit, as well as progress of DOE NEPA review and Mine Plan approval. The Q2 2027 restart timeline is contingent on these remaining approvals and operational readiness work.
Price Chart
Executive Summary
Anfield Energy received a positive Colorado DRMS decision completing state review of its JD-8 uranium-vanadium mine, with a reclamation permit to be issued upon posting a $620,000 surety. The DOE also accepted the draft Environmental Assessment template, allowing NEPA review to proceed. The company targets restart of production at JD-8 by Q2 2027, advancing its hub-and-spoke strategy feeding the Shootaring Canyon Mill.
Key Facts
- Colorado DRMS approved a permit area of 28.30 acres for JD-8 and set reclamation surety at $620,000.
- DOE accepted the draft Environmental Assessment template for JD-8 Mine Plan on September 29, 2026, allowing NEPA review to proceed.
- Anfield targets restart of uranium and vanadium production at JD-8 by end of Q2 2027.
- JD-8 is a past-producing conventional underground mine, last operated in 2006 by Cotter Corporation.
- PEA estimates average annual production of ~1.3M lbs U3O8 and 6.4M lbs V2O5 over 15 years, with pre-tax NPV (8% discount) of $606M and IRR of 106% at $100/lb U3O8 and $9/lb V2O5.
- Long-term uranium price closed August 2026 at $96.50/lb, above 2007 nominal peak; spot price was $89.68/lb.
- Anfield responded to NNSA RFI for potential acquisition of ~4M lbs/year of unobligated domestic uranium.
- The application is no longer contested, so it will not be on the October 14-15, 2026 Colorado Mined Land Reclamation Board agenda.
Financial Impact
Reclamation surety of $620,000 is immaterial. The PEA estimates pre-tax NPV of $606M and IRR of 106% for the hub-and-spoke model including JD-8, but this is preliminary and based on assumed uranium/vanadium prices.
Risk Factors
- Risk that Anfield cannot post the required financial warranty in the time or form contemplated.
- Risk that DRMS does not issue the permit when anticipated or at all, or imposes additional requirements.
- Risk that DOE NEPA review or Mine Plan approval is delayed, requires additional information, or is not obtained.
- Risk that PEA results are not realized; the production decision is not based on a feasibility study of mineral reserves.
- Fluctuations in uranium and vanadium prices could affect project economics.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-006325 |
| Document: f6k_100126.htm | 0001171843-26-006325 |
| Document: 0001171843-26-006325-index-headers.html | 0001171843-26-006325 |
| Document: 0001171843-26-006325-index.html | 0001171843-26-006325 |
| Document: 0001171843-26-006325.txt | 0001171843-26-006325 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 6-K | $2.81 | awaiting T+1 | — | $3.02 (+7.47%) |
Oct 1, 2026 26d ago | 6-K | $3.36 $3.44 | ▲ +2.38% | ▲ +1.64% | $3.02 (−10.12%) |
Sep 15, 2026 6w ago | 6-K | $3.68 $3.59 | ▼ −2.45% | ▼ −2.00% | $3.02 (−17.93%) |
Sep 10, 2026 6w ago | 6-K | $4.11 $3.96 | ▼ −3.65% | ▼ −4.50% | $3.02 (−26.52%) |
Aug 14, 2026 10w ago | 6-K | $4.23 $4.53 | ▼ −7.09% | ▼ −7.56% | $3.02 (+28.61%) |
Jul 31, 2026 12w ago | Press Release | $3.97 $3.99 | ▲ +0.50% | ▼ −1.30% | $3.02 (−23.93%) |
Jul 30, 2026 12w ago | 6-K | $3.96 $3.94 | ▲ +0.51% | ▲ +1.21% | $3.02 (+23.74%) |
Jul 30, 2026 12w ago | 6-K | $3.96 $3.94 | ▲ +0.51% | ▲ +1.21% | $3.02 (+23.74%) |
Jul 9, 2026 15w ago | 6-K | $4.19 $4.25 | ▲ +1.43% | ▲ +1.00% | $3.02 (−27.92%) |
Jul 7, 2026 16w ago | 6-K | $4.18 $4.20 | ▲ +0.48% | ▲ +0.79% | $3.02 (−27.75%) |
US Market Status
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