Stockhouse: Anfield Resources (V.ARY) secures conditional approval for Utah mill license transfer31 Oct 2014
Anfield Resources (TSX: V.ARY, Stock Forum) advanced its operational goals at the Shootaring Canyon Uranium Mill located in Utah, when the company announced today that the Utah Division of Radiation Control (“UDRC”) had furnished conditional approval to transfer ownership of the mill’s radioactive materials license from Uranium One Americas to the company.
According to the news release, the UDRC has also agreed to extend the submission date of the license renewal application to October 31, 2015 so as to allow the company to put together a license renewal application.
The company will outline necessary modifications for the Shootaring Mill facility to become operative in the renewal application.
The conditional approval allows the license transfer if the company is able to submit an acceptable replacement surety to the UDRC and successfully close the Shootaring transaction. After which, the company will prepare the license renewal application for the restart of the mill.
The transaction has received conditional regulatory approval as well as FCC approval for the transfer of a radio communications license associated with the Shootaring mill.
Company CEO, Corey Dias, commented on the milestone, “We are very pleased that the UDRC has consented to the transfer of the Shootaring Mill radioactive materials license. This is a critical step along the path to both full ownership of and, ultimately, operation of the Shootaring Mill since, without such a license, neither option would be possible.”
He then concluded, “We are expeditiously working to complete all pre-closing conditions of the Shootaring Transaction. We look forward to closing the transaction and beginning the process of restarting the Shootaring Mill.”
Anfield Resources was in the news recently when the Vancouver-based company provided a corporate update at the beginning of October.
Shares climbed 6.52% on the news to $0.49 per share.
Currently there are 20.3m outstanding shares with a market cap of $10.4 million.
FULL DISCLOSURE: Anfield Resources is a Stockhouse Publishing client.