Nuclear Energy: A Source of Electricity is Projected to Grow

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May 31, 2018, 09:00 ET

NEW YORK, May 31, 2018 /PRNewswire/ --

Nuclear Energy is the largest source of clean, non-intermittent electricity in the U.S., which is producing over 25% of the total global nuclear power supply. According to data provided by The World Nuclear Association (WNA), the U.S. led the world producing 805 billion kWh in 2017, significantly ahead of France who followed up with 384.0 billion kWh. Although, U.S. operators shut down six reactors even before their licenses expired, the nuclear energy market is still projected to grow due to demand in energy and power. The WNA indicates that the world's nuclear capacity is expected to increase from about 58 GWe by 2020-21, then up to 150 GWe by 2030, and much more by 2050. Anfield Energy Inc. (OTC: ANLDF), Westwater Resources, Inc. (NASDAQ: WWR), Cameco Corporation (NYSE: CCJ), Denison Mines Corp. (NYSE: DNN), Ur-Energy Inc. (NYSE: URG)

As global warming is still a looming concern, many agree that nuclear energy offers the most efficient renewable alternative, which has also prompted national governments to opt for a cleaner solution. The market is currently growing at a slowed pace due to expenses and safety precautions, but is expected to see significant growth as more advances are made in technology. "If nuclear power's potential as a low-carbon energy source grows in recognition and advanced reactor designs further improve both safety and radioactive waste management, the use of nuclear power could grow significantly," said the International Atomic Energy Agency (IAEA).

Anfield Energy Inc. (OTCQB: ANLDF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: AEC). Last week the company announced that, "Stephen S. Lunsford has agreed to join the Company's Board of Directors. Mr. Lunsford has had an extensive career as a geologist in the uranium sector, spanning four decades, with his vast experience generated through his time working with entities such as Cameco Resources, Inc., American Nuclear Corp. and Power Resources, Inc. (PRI). In addition, Mr. Lunsford was involved in a feasibility study completed by PRI for Cotter with regard to Anfield's recently-acquired Charlie project in Wyoming. Overall, Mr. Lunsford's regional expertise and uranium asset knowledge will be a significant asset to Anfield.

"We are excited to have someone of Mr. Lunsford's calibre joining our board of directors," commented Anfield's CEO Corey Dias. "His successful career spanning four decades in the uranium industry with well-known entities in the sector, such as Cameco and PRI, is impressive, and his extensive knowledge of Wyoming uranium will prove to be a great value to the Company as we move our projects forward. Moreover, his direct knowledge with regard to the Charlie project could allow Anfield to further streamline our path to production."

Mr. Lunsford began his career with American Nuclear Corp. in 1972 where he began as a field geologist supervising field drilling programs for as many as seven drill rigs. He later became a project geologist where he organized and directed all aspects of exploration drilling programs.

In 1987 Mr. Lunsford began work as a project geologist with Everest Minerals, which became PRI in 1989. In 1996 PRI was acquired by Cameco Inc., and in 2008 PRI's name was changed to Cameco Resources. During his time with Everest/PRI/Cameco, Mr. Lunsford planned and implemented delineation and exploration drilling programs and mapped subsurface roll fronts by means of drill hole geophysical logs. As project geologist he generated uranium reserve/resource evaluations, created and maintained drill hole databases and planned and designed in-situ patterns. His responsibilities also included data collection and geology for generating mine permit applications.

From 2000 to 2002 Mr. Lunsford served as the senior project geologist on PRI's Smith Ranch-Highland Mine where he evaluated the uranium reserve/resource estimation by geologic and geostatistical methods. He designed and evaluated uranium in-situ production patterns, performed prospect evaluations, and created and/or supervised maintenance of the geophysical drill hole database. He also managed production databases, tracked production and created monthly production reports.

In 2002 he became chief geologist for the Smith Ranch-Highland Mine where he evaluated uranium prospects and supervised uranium IST mining efforts. As chief geologist he functioned as the qualified person (QP) for purposes of NI 43-101 reports.

From 2006 until his retirement in 2013, Mr. Lunsford served as senior evaluation geologist for PRI/Cameco Resources. In this position he generated uranium prospects internally and evaluated prospects submitted from outside sources. During this period he continued to serve as the QP on NI 43-101 reports for PRI/Cameco.

From 2013 to 2014 Mr. Lunsford was a consulting geologist to Tetra Tech and Anatolia Energy on the Temrezil Uranium project in Turkey. His responsibilities included reserve/resource estimation to enable definition of mineral resource boundaries, and assisting in preparation of a preliminary wellfield layout to support the development of a pre-feasibility study.

We also announce the resignation of Jim Rasmussen from the Anfield Board. We would like to thank Mr. Rasmussen for his significant contributions to the Company over the years, and wish him all the best in his future endeavors."

Westwater Resources, Inc. (NASDAQ: WWR), formerly known as Uranium Resources, Inc., is focused upon the development of energy-related minerals and materials. On April 18, 2018, the company announced the completion of a Technical Report on its Ambrosia Lake Uranium Project, which is located in McKinley County in the State of New Mexico. The Ambrosia Lake Uranium Project, which covers an area of approximately 24,555 acres (9,941 hectares) of Company-owned deeded mineral rights, is situated approximately 70 miles (112 kilometers) west of Albuquerque and 20 miles (32 kilometers) north of the town of Grants. The project area covers a significant part of the now-inactive Ambrosia Lake mining district, which has historically been the largest single source of uranium production in the United States.

Cameco Corporation (NYSE: CCJ) is one of the world's largest uranium producers providing about 16% of the world's production from its tier-one operations in Canada and Kazakhstan. The company holds about 458 million pounds of proven and probable reserves and extensive resources on three continents. The company's exploration programs are focused on about one million hectares of land near its existing operations. On April 23, 2018, the company reported its consolidated financial and operating results for the first quarter ended March 31, 2018 in accordance with International Financial Reporting Standards (IFRS). Net earnings of $55 million; adjusted net earnings of $23 million: Earnings were higher this quarter as compared to 2017, largely due to the gain realized on the restructuring of JV Inkai and higher realized prices and deliveries in its uranium segment.

Denison Mines Corp. (NYSE: DNN) is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan - including its 60% owned Wheeler River project, which hosts the high grade Phoenix and Gryphon uranium deposits. Denison also owns a 22.5% interest in the McClean Lake uranium mill, which is currently processing ore from the Cigar Lake mine under a toll milling agreement, and is the manager of Uranium Participation Corp., a publicly traded company which invests in uranium oxide and uranium hexafluoride. Recently, the company announced the its summer 2018 exploration plans for its high-priority Athabasca Basin exploration pipeline projects located in northern Saskatchewan. For Waterbury Lake Project, Summer drilling is expected to focus on additional step-out drilling at the Huskie zone of high-grade basement-hosted uranium mineralization, and testing of high-priority targets approximately 2.5 kilometres to the northeast, where the regionally interpreted Midwest structure is projected to intersect the geologically favourable Oban trend.

Ur-Energy Inc. (NYSE: URG) is a dynamic junior mining company operating the Lost Creek in-situ recovery (ISR) uranium facility in south-central Wyoming. On April 12, 2018, the company provided the following operational results for first quarter 2018. For the quarter, 84,047 pounds of U3O8 were captured within the Lost Creek plant, 79,961 pounds of U3O8 were packaged in drums and 73,515 pounds of U3O8 drummed inventory were shipped out of the Lost Creek processing plant. At March 31, 2018, inventory at the conversion facility was approximately 159,296 pounds U3O8. During the quarter, sales totaled $19.7 million on 380,000 pounds at an average price of $51.75 per pound, which was 140% above the average spot price for the same period of $21.52 per pound.

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