Anfield Energy to become latest uranium play on NASDAQ

[Redator]

Anfield Energy’s Shootaring Canyon Mill project in southeast Utah. Credit: Anfield Energy

Anfield Energy (TSXV: AEC) has been approved to for listing on the NASDAQ, with trading set to begin on Sept. 18 under the symbol “AEC”. Its OTC-listed shares will then cease trading, while its Canadian-listed stock will continue to trade under the same symbol.

The company applied for the NASDAQ listing in April 2025, seeking to leverage its US-based uranium asset base at a time when domestic production of the nuclear fuel is falling short of anticipated demand.

“With all of Anfield’s assets located in the United States, and with the United States having the largest installed nuclear reactor base worldwide – but producing less than 1% of required uranium – we believe the company is well positioned to attract additional US investor interest as a potential near-term uranium producer,” Anfield’s CEO Corey Dias stated at the time of application.

“The listing will both elevate our profile in the United States and provide greater visibility and exposure to a broader institutional and retail investor base,” Dias reiterated in a press release issued Wednesday.

The listing approval sent Anfield Energy’s Toronto-listed shares 13% higher by midday, with a market capitalization of approximately C$134 million ($97 million).

Emerging US producer

Anfield currently has over 20 uranium assets in its pipeline across the Western US. The closest to production is the Velvet-Wood project in Utah, which the US government had selected for fast-tracked permitting as part of the Trump administration’s efforts to boost domestic production of critical minerals.

Located about 200 miles (322 km) south of Salt Lake City, the proposed mine comprises two separate areas that together hold 4.6 million lb. of uranium oxide equivalent (eU₃O₈) in the measured and indicated category, plus 552,000 lb. in the inferred category. Most of the work at the mine is expected to take place underground, targeting known mineral deposits left from earlier operations.

In Wednesday’s release, CEO Dias confirmed that the company is pushing to start mine construction at Velvet-Wood in 2025. The project obtained environmental approval in May, becoming the first to be greenlit under a compressed 14-day review timeline.

Elsewhere in Utah, Anfield also intends to reopen the Shootaring Canyon uranium mill, situated to the west of Velvet-Wood about 48 miles (77 km) south of Hanksville. The facility is one of only three licensed, permitted and constructed uranium mills in the US, and had a brief period of production during the 1980s.

Both Shootaring Canyon and Velvet-Wood were acquired together by Anfield in 2015 from Uranium One.