Anfield Energy’s Milestone Purchase: First Major Underground Haul Truck Acquisition

Core Insights - Anfield Energy Inc. has completed its first major procurement of specialized underground mining equipment, ordering eight custom-built underground haul trucks from Young's Machine Company, marking a significant milestone in its production ramp-up at the Velvet-Wood uranium-vanadium mine [1][2] - The partnership with Young's Machine, a local manufacturer, is expected to enhance operational efficiency and support Anfield's strategy for near-term production while contributing to local economic development [2][4] Purchase Details - The order includes multiple units from Young's 960 Series dump trucks, designed specifically for underground mining operations, known for their durability and low operational costs [6] - Delivery of the trucks is projected to begin in the second quarter of 2026, aligning with Anfield's development timeline for the Velvet-Wood Mine [6] Strategic Context - Anfield aims to position itself as a leading supplier of clean energy inputs, with plans to restart the Shootaring Canyon Mill and scale production to 3 million pounds of uranium annually [4] - The Velvet-Wood Mine will supply material to the Shootaring Canyon Mill, supporting a "hub-and-spoke" production model that aligns with U.S. energy independence goals [4][5] Historical Context and Production Potential - The Velvet-Wood Mine targets historical materials from past operations that produced approximately 4 million pounds of U₃O₈ and 5 million pounds of V₂O₅ [5] - A 2023 Preliminary Economic Assessment (PEA) indicated positive production potential, with recent regulatory approvals accelerating development [5] Operational Readiness and Local Economic Impact - The procurement of trucks complements recent operational activities, including a completed confirmation drill program at the JD-7 Mine [7] - Partnering with Young's Machine is expected to create jobs in San Juan County and strengthen local supply chains [7] Market Momentum - Anfield's share price reflects investor confidence in its expedited permitting process under federal energy initiatives, indicating strong market momentum for the company [7]