Anfield Energy Completes Phase One Surface Construction at Velvet-Wood Project
Anfield Energy (AEC.V) completed phase one surface construction at its Velvet-Wood uranium and vanadium project in Utah, the company said on Monday.With phase one now complete, the company will shift focus to phase two of mine construction at Velvet-Wood, said the company.Phase Two will focus on the dewatering and rehabilitation of the existing underground workings, along with construction of the ore pad to allow for mining to begin upon completion of the dewatering, said the company, and added that phase two is expected to last approximately 6 months. Initial underground development activities are expected to commence within the next 30 days at Velvet-Wood, it stated.Phase three of mine construction at Velvet-Wood will involve the buildout of permanent surface infrastructure, including the mine office, shop/warehouse, and permanent power, said the company. The company plans to produce mined material concurrently with the completion of this final development phase."The successful completion of Phase One surface construction at Velvet-Wood marks strong progress on the ground made possible by our expanded workforce," said Corey Dias, Anfield CEO. "We are now advancing into Phase Two, with initial underground development activities expected to commence within the next 30 days. This advancement is significant in the broader U.S. context, as Velvet-Wood was the first uranium mine to be advanced through expedited permitting under the current administration."The company's shares were last seen down $0.11 at $6.82 on the TSX Venture Exchange.Price: $6.82, Change: $-0.11, Percent Change: -1.59%
