You can only collect so many uranium properties before the market starts taking you seriously.
When the Nexgen’s and Fission’s of the world crank out another news release boasting off-scale results, a host of smaller companies with property nearby get a little lift, with many of them waiting for the great Athabasca consolidation rush to begin.
Down in Utah, however, one largely unknown company that has long toiled in the copper space is consolidating all by itself, and drawing significant raises in share price as a result.
Anfield Resources (TSX:V.ARY
, Stock Forum
) announced Tuesday that it has expanded its holdings in the Firefly mining complex to incorporate three historically producing uranium mines, making that its new initial production target.
Note that important word – production - as you don’t hear it often in the uranium junior space.
The consolidation news sent Anfield shares up 12% Tuesday, and they continued rising Wednesday morning, just as they have all year.
Anfield is up 236% since January 1, when it sat at $0.25, barely off its twelve-month low. As of the time of writing, it’s at $0.86, with only 16.5 million shares outstanding.
That long rise comes not because uranium is hot, though it is, but because Anfield has managed to keep adding projects to its portfolio on a consistent basis, without diluting the share base.
Looking over Anfield’s last five news releases, you see a common thread:
March 18: Anfield Resources Inc. Expands Its Holdings at the Firefly Mine Complex in Utah to Incorporate Three Historically-Producing Uranium Mines; Firefly Now Anfield's Initial Production Target
Shut up already with your consistent flow of positive news and ongoing non-dilutive growth, right?
Formerly Equinox Copper, the company made a late 2013 switch to a strategy of acquiring near term cash flow potential assets. That has seen them grab 11,000 acres of Utah uranium country close to the only operating conventional uranium mill in the US.
To be sure, all of these properties require exploration, drilling, permits and additional money to get to a production phase, but what started out as a little claim collecting has quickly turned into asset gathering on a scale the market is noticing.
Anfield is up 2.35% Wednesday morning.
I don’t own it. Yet.
FULL DISCLOSURE: Anfield Resources is a Stockhouse Publishing client