Anfield will also acquire all of Uranium One’s conventional North American assets. The company will work with the TSX Venture Exchange to secure approval for the transaction, which is expected to close by 15 August 2015.
The transaction includes the Velvet-Wood uranium project, situated in San Juan County Utah, and surface stockpiles featuring uranium mineralized material.
It also includes the Frank M uranium project in Garfield County; additional uranium exploration targets situated in southeastern Utah, northern Arizona, and South Dakot; and a 50% stake in a joint venture on the Wate Breccia Pipe in northern Arizona.
As per the amended terms, Uranium One has agreed to initially provide about $7.1m in cash collateral needed to issue the replacement surety bond for both the Shootaring Canyon mill and other smaller bonds.
Anfield Resources CEO Corey Dias said: "We are very pleased to have advanced the transaction toward the closing by amending the definitive agreements to provide for the issuance of the replacement surety bonds.
"It is a significant achievement for Anfield as we now move toward the closing of the acquisition of one of only three licensed and permitted conventional uranium mills in existence in the United States as well as a project with a current uranium resource."
