Anfield Marks First Underground Blast at Velvet-Wood in Nearly Four Decades
AEC sits 19% above its 52-week low of $3.66.
Summary
Anfield Energy completed its first underground blast at Velvet-Wood in nearly 40 years, with 700 feet of decline rehabilitated and water treatment infrastructure nearly complete — a key step toward dewatering and production.
Key Events · Product Development and Regulatory · AEC
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First Underground Blast Completed
Following receipt of the ATF blast permit in June 2026, Anfield completed the first underground blast at Velvet-Wood since the mid-1980s.
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700 Feet of Decline Rehabilitated
Rehabilitation work includes rock bolts, wire mesh, road building, mucking, surveying, and installation of ventilation, utilities, and communication infrastructure.
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Water Treatment Plant Nearly Complete
Construction of the water treatment plant and dewatering pump is nearly complete; a 60-day testing and reporting period will follow before dewatering begins.
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Dewatering Timeline Established
The company expects the remaining decline to dewater within 3 weeks of active pumping, with 2-3 months required for existing underground workings.
Analysis · AEC · Energy & Transportation
Anfield has transitioned from permitting to actual underground development at its flagship Velvet-Wood uranium-vanadium project. The first blast since the mid-1980s, along with 700 feet of rehabilitated decline and near-complete water treatment infrastructure, represents tangible progress toward dewatering and eventual production. This concrete operational milestone de-risks the project's timeline and reinforces the company's hub-and-spoke strategy centered on the Shootaring Canyon Mill.
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At the time of this filing, AEC was trading at $4.35 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $86.8M. The 52-week trading range was $3.66 to $12.49. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.