Toronto-listed IsoEnergy has announced a C$126.8-million all-share acquisition of TSX-V-listed Anfield Energy, positioning itself for expanded near-term uranium production in the US.

Anfield’s assets include the Shootaring Canyon mill in south-eastern Utah, one of only three licensed and constructed conventional uranium mills in the US, along with a portfolio of uranium and vanadium projects across Utah, Colorado, New Mexico and Arizona.

“The combined uranium mineral endowment will rank as one of the largest in the US, supported by a 100%-owned processing facility, multiple fully permitted mines ready for rapid restart, and a strong pipeline of longer-term development projects,” said IsoEnergy CEO Philip Williams.

A key benefit of the deal is the integration of IsoEnergy’s advanced-stage Tony M mine, located just 6.5 km from Anfield's Shootaring Canyon mill. A restart application has already been submitted to the state of Utah, aiming to increase the mill’s throughput from 750 t/d to 1 000 t/d and expand its licensed production capacity from one-million pounds to three-million pounds of uranium oxide per year.

This acquisition follows IsoEnergy’s purchase of Consolidated Uranium last year, further cementing its position as a global uranium development and exploration leader.

“With the global shift towards nuclear power, we believe the outlook for uranium has never been stronger, making this a pivotal move for IsoEnergy at the right time,” commented Williams.

Under the terms of the transaction, Anfield shareholders will receive 0.031 of a common share of IsoEnergy for each share held. The exchange ratio implies consideration of $0.103 an Anfield share, which IsoEnergy says implies a premium of 32.1% to the Anfield share price.

Anfield CEO Corey Dias said that the deal was an “excellent opportunity” for the company’s shareholders. “This transaction underscores our view that Anfield acquired the right assets in the right place at the right time.”