Date: Jan 11, 2019
Anfield Energy has signed an agreement to acquire the Charlie in situ leach (ISL) uranium project in Wyoming from Cotter Corporation, plus the West Slope group of previously producing uranium/vanadium properties in Colorado.
.jpg?ext=.jpg)
(Image: Pixabay)
The transaction, which first requires approval from the Toronto Stock Exchange, will be settled by the issuance of common shares to Cotter equal to a 19.9% ownership interest in Anfield. Cotter will retain a 20% interest in all uranium production from Charlie and a 15% interest in uranium and vanadium production from West Slope, should the projects proceed to production.
Exploration drilling began at Charlie, in Wyoming’s Powder River Basin, in 1969. After acquiring the project from Uranerz, Cotter evaluated it for both conventional open pit and in situ mining methods and in 1981 excavated a 200-foot (61 metre) test pit, but further development was halted due to falling uranium prices.
