enCore Energy has sold the Marquez-Juan Tafoya Uranium Project to Anfield Energy for an aggregate consideration of C$5 million ($4 million), payable in cash, and 185 million common shares of Anfield. The value of the share consideration at the time of closing was C$9.25 million ($7 million).
Under the terms of the agreement, Anfield acquired all outstanding shares of enCore Energy’s wholly owned subsidiary, Neutron Energy, which holds the Marquez-Juan Tafoya Uranium Project as its sole asset.
enCore Energy said C$4 million ($3 million) of the cash payment was received at closing, and the remaining C$1 million ($760,000) is payable by Sept. 25.
The Marquez-Juan Tafoya property is in McKinley, Sandoval and Cibola Counties within the eastern Grants Uranium District in New Mexico, 25 miles northeast of Grants. The Marquez-Juan Tafoya Project includes the Marquez-Juan Tafoya Deposit, along with the Southeast Deposit, located about a mile to the southeast, according