Anfield Resources, Inc. to Attend World Nuclear Fuel Cycle Conference in Toronto
Anfield Resources, Inc. to Attend World Nuclear Fuel Cycle Conference in Toronto
VANCOUVER, BC–(Marketwired – April 24, 2017) – Anfield Resources Inc. (TSX VENTURE: ARY) (OTCQB: ANLDF) (FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it will be attending the World Nuclear Fuel Cycle conference in Toronto, located at the Delta Hotel on April 25-27, 2017. The conference will allow Anfield to meet with entities representing various parts of the nuclear cycle, including uranium production, uranium procurement, uranium trading, and uranium conversion.
About the World Nuclear Fuel Cycle conference
Organized by the Nuclear Energy Institute and the World Nuclear Association, the World Nuclear Fuel Cycle 2017 provides a top-level international forum for senior industry leaders to discuss the issues affecting the commercial nuclear fuel cycle today, with a focus on enhancing the economic competitiveness of the nuclear energy industry.
About Anfield
Anfield is an energy metals exploration, development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its energy metals assets. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (ARY-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two production centres, as summarized below:
Arizona/Colorado/Utah – Shootaring Canyon Mill
A key asset in Anfield’s existing conventional uranium portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah, Colorado and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a 125-mile radius of the Shootaring Mill.
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has also signed a Resin Processing Agreement with Uranium One wherein Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray processing plant in Wyoming. In addition, should Anfield sign uranium sales contracts, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its contracts.
Anfield’s ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming.
On behalf of the Board of Directors
ANFIELD RESOURCES INC.
Corey Dias, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH SEEKING THE CAPITAL NECESSARY TO COMPLETE THE PROPOSED TRANSACTION, THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION, THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.
CONTACT INFORMATION
-
Contact:
Anfield Resources, Inc.
Clive Mostert
Corporate Communications
780-920-5044
info@anfieldresources.com
www.anfieldresources.com
- Published in Anfield Resources, Mining, News Home
Anfield’s Red Rim at 1.14 million lb U3O8 indicated
Anfield’s Red Rim at 1.14 million lb U3O8 indicated
Momentum Public Relations
Press Release: April 4, 2017
Mr. Corey Dias reports
ANFIELD RESOURCES ANNOUNCES RESOURCE REPORT FOR FIRST OF 24 URANIUM PROJECTS IN WYOMING
Anfield Resources Inc. has received a National Instrument 43-101 mineral resource technical report for the Red Rim uranium project, entitled “Red Rim Uranium Project, Mineral Resource Technical Report, National Instrument 43-101, Carbon County, Wyoming, USA,” and dated March 31, 2017. Further to Anfield’s news release of March 21, 2017, the Red Rim report is the first in a series of National Instrument 43-101 technical reports related to Anfield’s 24 Wyoming uranium projects. The report was completed by BRS Inc., a consulting and engineering firm with nearly 40 years of experience assessing Wyoming uranium projects.
The resource estimate includes:
- An indicated resource of 336,655 tons of mineralized material with an average grade of 0.170 per cent (equivalent to an indicated resource of 1,142,449 pounds of triuranium octoxide);
- An inferred resource of 472,988 tons of mineralized material with an average grade of 0.163 per cent (equivalent to an inferred resource of 1,539,447 pounds of U3O8).
Corey Dias, Anfield’s chief executive officer, stated: “This report is a significant first step in identifying and delineating the uranium resource on the company’s properties in Wyoming, an important part of our multistate U.S. portfolio. Over the coming months we aim to delineate further uranium resources on our acquired Wyoming properties and plan to identify the most prospective. Crucially, Anfield has a resin-processing agreement in place with Uranium One in Wyoming whereby it can process up to 500,000 pounds of uranium per year at Uranium One’s Irigaray central processing plant, and the pairing of a future viable uranium resource with that agreement would place Anfield in a strong position to take advantage of the expected uranium price rebound.
“This expected rebound converges with Anfield’s strategy of acquiring quality uranium assets and proceeding with disciplined, staged development. We are confident that developing these Wyoming properties, in line with company strategy, will be a significant step towards becoming a top-tier U.S. uranium producer.”
A summary of the indicated mineral resource included in the Red Rim report is presented in the table. A summary of the inferred mineral resource included in the Red Rim report is presented in table.
INDICATED MINERAL RESOURCES GT minimum Pounds eU3O8 Tons Average grade {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} eU3O8 0.25 1,142,449 336,655 0.170 INFERRED MINERAL RESOURCES GT minimum Pounds eU3O8 Tons Average grade {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} eU3O8 0.25 1,539,447 472,988 0.163
Mineral resources are not mineral reserves and do not have demonstrated economic viability in accordance with Canadian Institute of Mining, Metallurgy and Petroleum standards. Inferred mineral resources are too speculative geologically to have the economic considerations applied to them which would enable them to be categorized as mineral reserves.
The Red Rim project comprises approximately 1,000 acres of the mineral holdings of Anfield and includes 49 unpatented mining lode claims located approximately 20 air miles southwest of Rawlins, Wyo. The data used in the report utilize drill intercept data from two core holes and 136 rotary drill holes, including drill intercepts and geophysical logs.
The Red Rim project is located in an area that is the winter range for Pronghorn antelope. This may result in seasonal stipulations for field activities, including drilling. To the best of the company’s knowledge there are no other legal or environmental matters that could materially affect the potential development of these resources.
Radiometric equilibrium was assumed.
A unit weight of 125 pounds per cubic foot or 16 cubic feet per ton was assumed, based on the author’s experience working in operating mines in the Gas Hills within similar tertiary sandstone uranium deposits where reserve estimates were routinely compared with actual production.
For indicated mineral resources, the mineralized trend was bracketed by drilling and mineral resources were estimated using the GT contour method.
For inferred mineral resources, where the mineralized trend was not fully defined by drilling, at the interpreted location of the oxidation/reduction interface a thickness of six feet at an average grade of 0.15 per cent equivalent triuranium octoxide was assumed. Further it was assumed that mineralization in excess of a 0.5 GT extended approximately 50 feet either side of the interpreted oxidation/reduction interface and that mineralization grading down to a GT of 0.1 extended an additional 50 feet beyond that. These assumptions were based on the areas of close-spaced drilling where indicated mineral resources were estimated. GT contouring was completed within these limits and honoured available drill data.
National Instrument 43-101 disclosure
The NI 43-101 resource technical report completed for Red Rim has been authored by Douglas L. Beahm, PE, PG, principal engineer, of BRS Inc. The author has reviewed and approved the technical content of this news release.
A technical report on the resource technical report will be published on SEDAR and the company’s website within the 45 days permitted under NI 43-101.
About Anfield Resources Inc.
Anfield is an energy metals exploration, development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its energy metals assets.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
Anfield hires BRS for Wyoming NI 43-101 reports
Anfield hires BRS for Wyoming NI 43-101 reports
Momentum Public Relations
Press Release: March 21, 2017
Mr. Corey Dias reports
ANFIELD RESOURCES COMMENCES ADVANCEMENT OF WYOMING URANIUM PROJECTS
Anfield Resources Inc. has engaged BRS Inc., an engineering firm, to prepare a series of National Instrument 43-101-compliant technical reports for a number of Anfield’s 24 Wyoming uranium projects. The company views resource delineation as the first phase of Anfield’s Wyoming uranium asset advancement. The projects are located in the Black Hills, Powder River basin, Great Divide basin, Laramie basin, Shirley basin and Wind River basin areas of Wyoming.
Further to its news release of Sept. 14, 2016, as a part of the Wyoming project acquisition, Anfield acquired a database containing historic resource estimates that identify significant potential for further development. This includes drilling and geologic work done by Uranium One of 575 drill holes totalling approximately 395,000 feet of drilling. In addition to the Uranium One database, Anfield previously acquired a historic database of geological information pertaining to the acquired projects and of surrounding properties. The company, in conjunction with BRS, is carefully analyzing the current and historic data to identify and prioritize the data to generate NI 43-101 technical reports for Anfield’s acquired projects.
Corey Dias, Anfield’s chief executive officer, stated: “We are delighted to begin the initial phase of our work on these projects in order to both identify and delineate uranium resources. Importantly, many of these projects are in areas of Wyoming in which a number of uranium producers have already established ISR production bases. Moreover, Anfield signed a resin processing agreement with Uranium One in late 2016 whereby Anfield can process up to 500,000 pounds of uranium per year at Uranium One’s Irigaray central processing plant.
“Uranium analysts are now noting that the uranium market is at an inflexion point where prices are bound to rise sharply in 2017. With depressed prices, mine production is being cut while uranium demand is steadily increasing in Asia and elsewhere. And long-term contracts are rolling off with significant uncovered demand being forecast. These market dynamics converges with Anfield’s strategy of acquiring quality assets and proceeding with disciplined, staged development. We are confident that developing these properties will facilitate the execution of our company strategy and will be a significant step towards becoming a top-tier U.S. uranium company.”
Douglas L. Beahm, PE, PG, the principal engineer at BRS, is a qualified person as defined in NI 43-101, with 40 years of professional and managerial experience. Mr. Beahm has a proven record in a variety of mining and mine reclamation projects including surface and underground mining, heap leach recovery, ISR, and uranium mill tailings projects. Mr. Beahm’s experience includes coal, precious metals and industrial minerals, but his emphasis throughout his career has been on uranium.
About Anfield Resources Inc.
Anfield is an energy metals exploration, development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its energy metals assets.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
Anfield appoints Lumadue VP, U sales and marketing
Anfield appoints Lumadue VP, U sales and marketing
Momentum Public Relations
Press Release: March 13, 2017
Mr. Corey Dias reports
ANFIELD RESOURCES INC. ANNOUNCES VICE PRESIDENT, URANIUM SALES AND MARKETING
Robert Scott Lumadue has joined Anfield Resources Inc. as vice-president, uranium sales and marketing. Mr. Lumadue’s 38 years of relevant work experience includes four years with uranium producer Uranium One Americas as part of its uranium sales team, 12 years with U.S. utility Duke Energy Corp., 17 years with uranium conversion company ConverDyn and five years with Nuexco Trading Corp.
Corey Dias, Anfield’s chief executive officer, stated: “We are very pleased with the addition of Scott Lumadue as Anfield’s vice-president of uranium sales and marketing. Mr. Lumadue’s extensive experience within the nuclear sector will be a tremendous asset to the company. His long-term relationships with U.S. utilities and nuclear conversion facilities provide Anfield with a unique opportunity to leverage its improving uranium production position through the pursuit of long-term utility sales contracts. Anfield continues to strengthen its market position not only through strategic property and process acquisitions, but also through the addition of key personnel. By executing on this strategy, Anfield’s value proposition continues to gain greater appeal.”
About Anfield Resources Inc.
Anfield is an energy metals development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its energy metals assets.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
Anfield Resources closes $2.88-million placement
Anfield Resources closes $2.88-million placement
Momentum Public Relations
Press Release: March 6, 2017
Mr. Corey Dias reports
ANFIELD RESOURCES INC. COMPLETES $2.9 MILLION PRIVATE PLACEMENT
Anfield Resources Inc. has completed its private placement of units at 10 cents announced on Feb. 21. The placement was oversubscribed and on closing the company issued 28,880,615 units for gross proceeds of $2,888,061. Each unit consists of one common share and a one share purchase warrant, with each warrant entitling the holder to acquire an additional common share at a price of 20 cents for a period of 24 months.
Corey Dias, Anfield’s chief executive officer, stated: “We are excited to have closed on a financing which is significantly larger than the $1.5-million private placement we had originally announced on Feb. 21. With these funds, Anfield will both advance its current projects and pursue acquisition opportunities as we remain extremely optimistic with regard to the uranium market and its future prospects. It is important to note that the 447 commercial nuclear reactors now operating in 31 countries across the world currently meet 11 per cent of global electricity demand; however, with 59 reactors currently under construction and a planned and proposed reactor pipeline totalling more than 500, it is clear that nuclear power will remain an integral part of the global energy mix.”
In connection with closing, the company paid fees of $22,050 and issued 220,500 warrants to eligible finders who introduced subscribers to the company. All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period. The proceeds of the private placement will be used for project development and general working capital purposes.
About Anfield Resources Inc.
The key asset in Anfield’s conventional uranium portfolio is the Shootaring Canyon mill in Garfield county, Utah. The Shootaring Canyon mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s uranium assets consist of conventional mining claims and state leases in southeastern Utah, Colorado and Arizona, targeting areas where past uranium mining or prospecting occurred.
Anfield’s ISR (in situ recovery) mining projects are located in the Black Hills, Powder River basin, Great Divide basin, Laramie basin, Shirley basin and Wind River basin areas in Wyoming, and comprise 2,667 federal mining claims, 56 Wyoming state leases and 15 private leases acquired from Uranium One in September, 2016.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
Anfield Resources 28,880,615-share private placement
Anfield Resources 28,880,615-share private placement
Momentum Public Relations
Press Release: March 6, 2017
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Feb. 21, 2017.
Number of shares: 28,880,615 shares
Purchase price: 10 cents per share
Warrants: 28,880,615 share purchase warrants to purchase 28,880,615 shares
Warrant exercise price: 20 cents for a two-year period
Number of placees: 38 placees
Insiders: Laara Shaffer, 200,000 shares; Corey Dias, two million shares; Joshua Bleak, 750,000 shares
Finders’ fees: Leede Jones Gable Inc., $11,550 and 115,500 warrants that are exercisable into common shares at 20 cents per share for a 24-month period; Gravitas Securities Inc., $3,500 and 35,000 warrants that are exercisable into common shares at 20 cents per share for a 24-month period; Canaccord Genuity Corp., $7,000 and 70,000 warrants that are exercisable into common shares at 20 cents per share for a 24-month period
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the company issued a news release dated March 6, 2017, announcing the closing of the private placement and setting out the expiry dates of the hold period(s). Note that in certain circumstances the exchange may later extend the expiry date of the warrants if they are less than the maximum permitted term.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Anfield Resources, Mining, News Home
92 Resources(NTY:V) Advancing in Uranium
The Uranium Industry has recently seen more exposure in the last weeks. The Basin is home to some the highest grade uranium in the world, as well as McArthur River, the largest producing mine. Coming in second in global supply, Canada was surpassed by Kazakhstan in 2009. With the end of the Megaton to Megawatt program, and increased global pressure to use clean energy, many countries have turned to uranium. This coupled with energy security concerns and greenhouse constraints on coal, has continue to keep uranium in the limelight.
Brad Wall, Premier of Saskatchewan, was on official trade business November 17-23 in India. In this time agriculture, clean coal technologies and uranium were discussed. On uranium, Mr. Wall said “We are looking for uranium exports to India and have held preliminary discussions with officials of the Atomic Energy Commission and hope to conclude an early agreement.”
One such early play, 92 Resources (NTY:V), a junior exploration company with claims in the basin, released some management discussion on their Mitchell Lake property today. The 2354 hectare claim is on the eastern edge of the Athabasca Basin, adjoining to the south, Cameco’s Mitchell Lake Zone and 2.2km to the south, UEX’s West Bear Deposit. Significant exploration projects in the immediate area include UEX’s Hidden Bay Project, Fission’s Minor Bay Project, Pitchstone’s Martin, as well as Projects controlled by Denison Mines and JNR Resources. NTY intends to complete a ground survey in the near term to further define diamond drill targets. This program is subject to financing.
Stimulating the Uranium Industry: New Catalysts?
Uranium plunged by US$6 a pound (or 13.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}) over the past week to US$38. Last week it was breaking highs with 44$, up over 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from last year, but were unable to keep the new levels.. With 2 Fukushima reactors set to restart in 2015, the uranium sector has seen renewed interest in recent months. The spot uranium market is relatively small, so massive price jumps are normal. Today is to be noted though – this second largest week to week drop since ’96.
“Recent positive uranium spot price movements have failed to reverse the negative trend in the equities and, in the near term, equities will respond to macro news, such as in Japan where 19 of 26 assembly members recently voted in favor of nuclear reactor restarts.” Colin Healy, The Gold Report
Analysts predict that this may be the beginning of a long upward streak for the price of the commodity, however this may be sentiment driven. Most Uranium equities though have been affected with the TSX down more then 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} since August.
“We have heard from several sources that the recent price rally has been driven more by transient supply tightness and that over the medium term, the market remains well supplied,” Greg Barnes, Financial Post
With China committing to capping its carbon emissions by 2030, it plans for 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to be covered by renewable sources. The numbers that don’t seem real? 1,000 nuclear reactors, 500,000 wind turbines or 50,000 solar farms are required to cover this. Currently China has 23 reactors with 26 more being built – this shows that China still has much to do to met this commitment.
- Published in Blog
Lakeland Resources Inc. Acquires Newnham Lake Property, Athabasca Basin
Canada NewsWire
VANCOUVER, July 21, 2014
TSXv: LK FSE: 6LL
VANCOUVER, July 21, 2014 /CNW/ – Lakeland Resources Inc. (TSXv: LK) (FSE: 6LL) (OTCQX: LRESG) (the “Company” or “Lakeland”) is pleased to announce that it has acquired the Newnham Lake Property (the “Property”), within the northeast portion of the Athabasca Basin. Newnham Lake is contiguous to the south of the Company’s Karen Lake Property, and increases the company’s land position in the area by approximately 20,218 ha (49,961 acres). The property is situated along the shallow basement margin where depth to basement is expected to be from zero to around 100 metres.
The Newnham Lake Property and surrounding area was the subject of intense exploration efforts by Saskatchewan Mining and Development Corporation (“SMDC”) for shallow, unconformity hosted uranium deposits from about 1976 to 1984. JNR Resources conducted exploration on and near the Property between 1997 and 2011. The recent work includes a ground electromagnetic (HLEM) survey with targets on the Property not yet drill tested. Other recent work includes airborne VTEM and ZTEM surveys and an airborne full tensor gravity gradiometry survey.
The Property encompasses parts of an approximately 25 km long, folded and faulted, graphitic metapelite trend which was the subject of the historic work. In excess of 140 drill holes targeted this trend prior to 1984, and were focused on mineralization at the unconformity. Limited work was done exploring for deeper basement style mineralization despite extensive alteration, anomalous geochemistry and favorable rock types, with most holes continuing less than 25 metres past the sub-Athabasca unconformity. The exploration in the area of the Newnham Lake Property was largely prior to the understanding of the importance of basement-hosted unconformity-style uranium deposits. The Newnham Lake region was one of the most developed trends in the Athabasca Basin, outside of the prolific Eastern Athabasca Trend and Cluff Lake. The company believes that the historic work indicates a large amount of positive exploration indications and that there are several targets yet to be tested.
To the northeast of the Property, within Lakeland’s Karen Lake Property, historic work shows extensive enrichment within lakes and stream sediments of Uranium, Nickel and other pathfinder elements. Organic-rich overburden samples at Karen Lake are reported to contain in excess of 1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} uranium.
According to Jon Armes, President and CEO of Lakeland Resources “We are excited about the opportunity to acquire another project such as Newnham Lake with significant historic work that suggests the presence of a large mineralized system, as evidenced by highly anomalous uranium, nickel and other pathfinders in both drill holes and surface samples. We look at this as an excellent opportunity to grow the Company’s stable of high-quality projects.”
Concurrent with the acquisition of the Newnham Lake Property, the company has also agreed to acquire the Hatchet Lake Property (the “Hatchet Property”). It is located east of the Company’s recently acquired Fond du Lac Property, and covers the easterly extension of what is interpreted as the same basement graphitic meta-sedimentary basin. The Hatchet Property has not seen any serious historic exploration campaigns despite its favourable geological setting. The Hatchet Property is located approximately 12 kilometres outside of the Athabasca Basin sandstones, and is considered highly prospective for basement hosted mineralization. It also benefits from nearby infrastructure, as is common to all projects located within the northeastern part of the Athabasca Basin, and which are in reasonable proximity to the Uranium Mining and Milling infrastructure.
Lakeland has the right to earn a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in the Newnham Lake Property by making cash payments totaling $100,000 and issuing 2,500,000 common shares over a 24 month period. The Vendor will retain a 2.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} GORR, subject to a 1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} buyback provision. The Hatchet Lake Property can be acquired by making a cash payment of $13,500 and issuing 500,000 shares. The Vendors will retain a 2.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} GORR, subject to a 1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} buyback provision.
NI 43-101 Disclosure
The technical information above has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Neil McCallum, P.Geo., of Dahrouge Geological Consulting Ltd., a qualified person.
About Lakeland Resources Inc.
Lakeland Resources Inc. is a pure play uranium exploration company focused on the Athabasca Basin in Saskatchewan, Canada; home to some of the world’s largest and richest high-grade uranium deposits. The Company’s common shares trade on the TSX Venture Exchange under the symbol “LK” and on the Frankfurt Stock Exchange under the symbol “6LL”.
On Behalf of the Board of Directors
LAKELAND RESOURCES INC.
“Jonathan Armes”
Jonathan Armes
President, CEO and Director
Cell: 416.708.0243
Ph: 604.681.1568
TF: 1.877.377.6222
Email: jarmes@lakelandresources.com
Web: http://www.lakelandresources.com
Read more: http://www.digitaljournal.com/pr/2066544#ixzz38CrHk7lf
- Published in Mining
Are You Ready For Doubles And Triples in Uranium Mining Stocks?
Are you brave enough to buy straw hats in winter? From uranium to oil services to lithium, savvy investors can find innovative ways to make money based on fundamental supply and demand rather than emotion and fashion. In this interview with The Energy Report, Gold Stock Trades editor Jeb Handwerger outlines the trends that will shape the future of energy commodity investing, and names some of the best examples of shabby chic stocks worth more than their current price tags.
The Energy Report: Jeb, in past interviews you have talked about the boost that the end of the Russian nuclear material purchase agreement would have on uranium prices. But lately, the price has dropped. What is causing the most recent decline?
Jeb Handwerger: The end of the Russian highly-enriched uranium (HEU) agreement did, indeed, kick off a strong Q1/14 for uranium prices. Many juniors had phenomenal returns. Some doubled, some tripled during those months. But since March, we’ve hit new lows in the uranium price, and many of the gains made in the Q1/14 rally have been given back. Some prices have even hit below the 2013 lows.
The uranium spot price has been in a seven-year downtrend. When you get to a bottom, you sometimes have false starts, and you bounce along. That’s exactly what we’re dealing with in 2014. Market sentiment is still extremely negative, but the smart, long-term investors who look at the supply/demand fundamentals over a three- to seven-year horizon have a different perspective than short-term traders looking for a quick turnaround profit. We think this is an excellent time for fundamental investors to get into the space. The longer the base, the more time investors have to acquire positions in the high-quality junior uranium miners that are literally trading for pennies.
The real concern is Japan. Many expected Japan to restart nuclear reactors faster than it has. Even though Japan has released an energy plan with nuclear as a major cornerstone, it takes time for nuclear reactors to restart. That leaves Japan, its businesses and its citizens paying ridiculously high electricity costs for imported natural gas.
TER: Have you seen any signs that Germany might restart production?
JH: The key is the battle of wills going on in Eastern Europe right now. When German Chancellor Angela Merkel had a knee-jerk reaction after the Fukushima reactor disaster, deciding to rely on renewables rather than nuclear energy, what she really did was make the large German economy dependent on nuclear power from France and natural gas from Russia, through Ukraine. The result is skyrocketing electricity costs and increased political risk.
Now we have had the wake-up call I have been warning about from Russia. President Vladimir Putin has Western Europe in a very vulnerable situation if he decides to turn off the taps. This may force a change in sentiment in Germany, which may want to rethink nuclear. It’s becoming a real energy security crisis there.
TER: In a past interview with The Mining Report, you said that China is on a commodity buying spree. Can China’s nuclear construction pull the uranium sector up without Japan and Germany?
JH: Over the long term, yes. Currently, China uses only a fraction of what the developed countries in Europe and the U.S. use. That’s going to change over the next generation. The Chinese can no longer rely on dirty coal. Coal has created environmental havoc in major cities, where it is becoming difficult to breathe.
The real concern is Japan. Many expected Japan to restart nuclear reactors faster than it has. Even though Japan has released an energy plan with nuclear as a major cornerstone, it takes time for nuclear reactors to restart. That leaves Japan, its businesses and its citizens paying ridiculously high electricity costs for imported natural gas.
TER: Have you seen any signs that Germany might restart production?
JH: The key is the battle of wills going on in Eastern Europe right now. When German Chancellor Angela Merkel had a knee-jerk reaction after the Fukushima reactor disaster, deciding to rely on renewables rather than nuclear energy, what she really did was make the large German economy dependent on nuclear power from France and natural gas from Russia, through Ukraine. The result is skyrocketing electricity costs and increased political risk.
Now we have had the wake-up call I have been warning about from Russia. President Vladimir Putin has Western Europe in a very vulnerable situation if he decides to turn off the taps. This may force a change in sentiment in Germany, which may want to rethink nuclear. It’s becoming a real energy security crisis there.
TER: In a past interview with The Mining Report, you said that China is on a commodity buying spree. Can China’s nuclear construction pull the uranium sector up without Japan and Germany?
JH: Over the long term, yes. Currently, China uses only a fraction of what the developed countries in Europe and the U.S. use. That’s going to change over the next generation. The Chinese can no longer rely on dirty coal. Coal has created environmental havoc in major cities, where it is becoming difficult to breathe
Nuclear is going to be extremely important for the Chinese over the next generation. That is where the major growth is going to be. China National Nuclear Power Co. recently announced plans to raise up to 16.25 billion yuan ($2.6 billion) in an initial public offering to fund nuclear-power projects. That’s significant news. It tells me the Chinese are willing to invest because they realize the critical nature of clean energy, of being able to provide enough energy without compromising air quality. Long-term contrarian uranium investors still see nuclear as the key clean baseload power source because renewables are not able to make that gap.
A recent documentary called “Pandora’s Promise” showed former anti-nuclear environmentalists speaking out for atomic energy because they have realized it is the only practical way to reduce fossil fuel consumption and, thus, carbon emissions. Remember, nuclear reactors today do not use the same technology as 20, 30 or 40 years ago. New nuclear will utilize small, modular reactors that are safer, more efficient and more adaptable than massive, expensive, meganuclear plants.
TER: Is the U.S. getting serious about the need for domestic sources for the uranium to feed these modular reactors?
JH: Yes. The U.S. is the largest consumer of nuclear power. It uses about 55 million pounds (55 Mlb) of uranium per year, but only about 4 Mlb are produced domestically. That has to change. It will change over the next generation, because we can’t rely on the cheap, secondary supplies that Russia gave us for close to 20 years.
Now that that cheap resource is not available, the U.S. will have to turn to domestic uranium producers, such as Cameco Corp. (CNYSE:CCJ), operating in the Powder River basin in Wyoming. For the first time in over 30 years, new nuclear reactors are being built in the U.S. Many of the older reactors will have to be replaced with newer reactors. There is going to be a need for new domestic uranium producers that can produce at a low cost.
The companies outperforming in the uranium mining space that have not hit new lows have been the lower-cost producers, the in situ miners in the U.S., such as Ur-Energy Inc. (AMEX:URG) and Uranerz Energy Corp. (AMEX:URZ). The explorers and the current higher-cost producers have been hit hard because the uranium spot has come back down.
Uranerz already has secured long-term offtake arrangements with some of the largest U.S. utilities. It is just coming into production, and is planning a third production center that will add more feed to the Nichols Ranch project. Management was smart enough to secure a long-term offtake arrangement with utilities at much higher prices.
Many of the uranium producers selling into the spot price will be under price pressure. However, new producers with attractive long-term agreements have time. The short term looks ugly, but the long term looks exceptionally exciting. This appears to be the time for contrarian value investors to continue to accumulate. It’s why we’re seeing big money, such as Uranium Participation Corp. (U:TSX), raising $58 million ($58M) to buy spot uranium. When Uranium Participation Corp. and other investors in the uranium sector begin buying again, we could once again see uranium miner stock prices double and triple, even if the uranium spot price moves just a few dollars.
TER: Uranerz actually started the year off pretty strong. Does it still have catalysts lined up for the rest of this year?
JH: The company announced in the middle of June that it sent its first resin shipment to Cameco’s Smith Ranch facility for final processing into uranium concentrate. This is very significant. The next step is making its first delivery of uranium to the conversion facility, where the customers will take ownership of the product. Uranerz stock hit a low in 2013 at around $0.85/share. It is trading currently around $1.50/share, from a high of about $1.90/share. In a space where many companies have come back to their lows, Uranerz is maintaining its uptrend, because it is one of the few uranium miners actually performing.
TER: Rick Rule has called uranium the most hated commodity, and one of the best buying opportunities. What do you tell people who are looking for the courage to be contrarian when everyone else is running the other way?
JH: Right now, being a uranium investor is extremely difficult. The spot price continues to hit lows. No one wants to touch it. There’s an old saying that to be rich in the market you have to buy straw hats in the winter and winter coats in the summer. There’s no doubt about it, the spot price has taken a nasty tumble. But this may be the shakeout that allows long-term value investors to accumulate uranium miners at exceptionally low prices. There is major capital on the sidelines. There is going to be a supply shortfall, and the uranium price is going to rally. But it takes patience and courage to look at a sector when no one else is willing to pay attention to it.
What we saw earlier this year, when some uranium miners doubled and tripled, is just the beginning. There are going to be false starts as we come off the bottom and bounce along. This is where the timid give up. Every time the price bounces and drops back, investors lose hope and get discouraged. The real winners in this game are the investors who are able to withstand the volatility.
We’re just beginning to see base metals and commodities turning the corner from the financial crisis of 2008. The overall economy is just beginning to show signs of improvement. That’s going to be good for energy and commodities. Sometimes, you have to look for the commodities that have been beaten down and are trading at decade lows, but are growing increasingly in demand. There is no doubt that uranium fits that bill.
TER: One thing people do seem to be excited about is oil and gas, particularly fracking. We recently ran an interview with T. Boone Pickens where he talked about leveraging the oil and gas renaissance for profit and national security. What is your favorite way to get exposure to the shale plays?
JH: Oil is beginning to break out. We saw it break out higher, above $105/ barrel ($105/bbl). It may eventually make a major breakout past $110/bbl. Geopolitical tensions in Iraq could send oil prices skyrocketing. That’s why we’ve seen this huge boom in shale in North America, including, most recently, in western Canada, where numerous liquefied natural gas (LNG) projects and pipelines are being planned.
Big money is coming into the energy space, because these pipelines and terminals will be able to supply Asia with cheaper oil and gas. Asian countries currently pay quadruple what North Americans pay. These infrastructure projects, such as pipelines and LNG terminals, are just beginning to be built, and western Canada could be a key area of great growth.
One of our favorite companies that could benefit from this trend is Enterprise Group Inc. (TO:E), which is a one-stop shop for the major oil exploration and production companies. It has contracts with some of the big boys, including Royal Dutch Shell Plc (NYSE:RDSa) and Encana Corp. (NYSE:ECA), and it is getting major capital. Enterprise was able to raise $27M to invest in the sector. Big money is interested in the oil and gas services business. Enterprise has an attractive balance sheet and the ability to grow. The company announced Q1/14 revenue of $21M, more than double last year’s $9M. Enterprise also recently announced its largest contract ever: $19M with Canada’s largest natural gas producer. A small-cap oil field service company with a market cap below $150M and contracts with large players planning to spend billions of dollars on drilling over the next decade is really a unique situation.
TER: Are oil services a less risky way to invest in the sector?
JH: Yes, because these companies have contracts with some of the largest companies with long-term exploration plans. The opportunity really is in the infrastructure. One of the least risky ways to make money is providing the services to the explorers and the producers. That’s what Enterprise is doing.
TER: The other thing that investors seem to be excited about is the prospect of a gigafactory for battery development. What is the best way to get exposure to the battery market? Graphite? Lithium?
JH: I have long been excited about the potential growth in the battery market for electric vehicles, grid storage and mobile electronics. Mobile phones, smartphones and laptop computers are a part of everyday life. The same is true with electric vehicles. Tesla Motors Inc. (NASDAQ:TSLA) is a huge market cap company with some very significant plans, including construction of the biggest lithium-ion (Li-ion) battery plant right here in the U.S.
Demand in the Li-ion battery market is set to grow rapidly over the next seven years. This could be a game-changer for some North American lithium and graphite miners. Battery manufacturing could be a major area of economic growth for the U.S., especially the southwestern U.S., over the coming decades. This could have the same impact as the internal combustion engine, revolutionizing transportation. President Barack Obama is pushing to reduce carbon emissions. Tesla may be in the market for lithium and graphite deposits in North America that could supply its manufacturing plants. Most of current lithium supply either comes from Chile, Argentina or Australia. A North American lithium asset could be very profitable.
TER: What are some possible companies that fit that description?
JH: One that we’ve followed for years is Western Lithium USA Corp. (TO:WLC). The company’s location in Nevada, with one of the most advanced lithium deposits, is very compelling for battery makers. In addition, Western Lithium is going to be in production shortly, producing hectorite clays used in the fracking industry for deep directional drilling. It is fully permitted for its Hectatone organoclay business, and has raised over $9M. The Hectatone business is looking good for startup in the fall; plans should be complete in the summer. The lithium demonstration plant is scheduled for launch in Germany at the end of 2014. Western Lithium has two tracks—the Hectatone business for the oil and gas industry, and lithium for Tesla. Both tracks are moving forward, and in exciting areas.
TER: It looks like the market has recognized that. The stock price had a nice little spike earlier this year.
JH: I think it’s just the beginning.
TER: Any final words of wisdom for our readers?
JH: There are still opportunities in the energy market. It’s important to focus on the market cycles, and not follow what everyone else does. People think markets go up forever, but bear markets occur and, overnight, can wipe out investment gains that took months or even years to build. In the same way, bear markets can go down for a while but, all of a sudden, things could change. It is important to understand the cyclical nature of the commodity markets, and to be able to accumulate when no one else is buying and sell when people are willing to buy at ridiculous valuations. This is part of mastering your emotions. You have to continue looking at companies with strong fundamentals.
Jeb Handwerger is an author, speaker and founder of Gold Stock Trades. He studied engineering and mathematics at University of Buffalo and earned a master’s degree at Nova Southeastern University. After teaching technical analysis to professionals in South Florida for over seven years, Handwerger began a daily newsletter, which grew to include thousands of readers from over 40 nations.
DISCLOSURE:
1) JT Long conducted this interview for Streetwise Reports LLC, publisher of The Gold Report, The Energy Report, The Life Sciences Report and The Mining Report, and provides services to Streetwise Reports as an employee. She owns, or her family owns, shares of the following companies mentioned in this interview: None.
2) The following companies mentioned in the interview are sponsors of Streetwise Reports: Enterprise Group Inc., Uranerz Energy Corp., Royal Dutch Shell plc. Streetwise Reports does not accept stock in exchange for its services.
3) Jeb Handwerger: I own, or my family owns, shares of the following companies mentioned in this interview: Uranerz Energy Corp., Enterprise Group Inc., Ur-Energy Inc., Western Lithium USA Corp. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: Uranerz Energy Corp., Enterprise Group Inc., Western Lithium USA Corp. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
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- Published in Mining