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The uranium-bearing breccia pipes of the northern Arizona breccia pipe district are among the highest grade uranium deposits in the United States. In addition to uranium, the breccia pipes are also known to contain rare earth metals, including neodymium, and a variety of other valuable metals, including zinc, vanadium, cadmium, copper, silver, molybdenum, cobalt, nickel, gallium, and germanium.
Mr.Briscoe is holding the right cards and I fugure he has a pretty good hand. When it is time to make the call, LBSR will rise, IMO.
Looks like we just joined the REE game!
American Energy Fields, Inc. Locates Claims in the Uranium and Rare Earth Metals Rich Aquarius Mountains Mining District
AEFI.OB 1.20 +0.31
Press Release Source: American Energy Fields, Inc. On Monday February 7, 2011, 4:08 pm
PHOENIX, Feb. 7, 2011 (GLOBE NEWSWIRE) -- American Energy Fields, Inc. (OTCBB:AEFI) (the "Company") is pleased to announce that it has located 35 lode mining claims in the Aquarius Mountains Mining District in Mohave County, Arizona, a region noted for uranium and rare earth metals. Additionally, the property lies within the Date Creek Basin, a region that reportedly contains an estimated 1.2 billion tons of U3O8, also home to the Company's Artillery Peak project. The region, including and surrounding the Waldren Mine was targeted by the USGS NURE program as being an area of uranium and thorium mineral occurrence.
The claims include the site of the past-producing Catherine and Michael claims, from which uranium was shipped. The claims also include the past-producing Waldren Mining Co. Rare Earth Metals Mine. Mineralization at the Waldren Mine occurs in pegmatite dikes yielding uranium, beryllium, rare earth metals, bismuth, niobium, tantalum, garnet, feldspar, and mica. The USGS reports that 7-8 tons of yttrotantallite ore were produced from the mine, in addition to small amounts of monazite and gadolinite.
The Company plans to conduct an initial phase of exploration within the next thirty days, including geologic mapping, a grid radon survey, and surface sampling.
Company President and CEO Joshua Bleak stated, "This uranium and rare earth deposit is a significant acquisition in building a significant uranium property portfolio, especially considering its proximity to our Artillery Peak project. Additionally, the rare earth metals in the deposit have the potential to add significant value to this property. We look forward to implement our exploration program to identify and define a uranium and rare earth resource on this property."
About American Energy Fields, Inc.
American Energy Fields, Inc. is a resource company focused on exploring and developing the natural energy resources of the United States. American Energy Fields' corporate strength lies in its management's experience in the finance and natural resource sectors. AEFI has one of the most prolific mining databases for energy related projects within the United States. With this database, AEFI will target and acquire projects with previous production and/or exploration and work towards fully developing those projects to drive revenues and build core reserves.
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labour disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.
Contact:
Corporate Office
3266 W Galveston Dr. Suite 101
Apache Junction, AZ 85120
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That 321gold site article ia likely helping. New high for the year in a heating up uranium market so the techy's will be loving it.
1.09 WOW! 400K traded
[+ Font] :: [- Font] :: Printable
Uranium is Both Hot and Real
Bob Moriarty
President: 321gold
Archives
February 4th, 2011
In 2001 uranium dropped to $7 a pound at the end of a 20+ year bear market. Exploration for U3O8 simply stopped. No one could make money looking for it. Then it started a relentless climb to $136 a pound by 2007. Everyone who owned a pick and a shovel got into the uranium business. The metal didn't have a single correction between $7 and $136. There's trouble waiting to happen.
Permabulls hate the word "correction" but everything goes up and everything goes down. Up and down is normal. When something goes straight up, it will one day go straight down. Uranium did.
After hitting $136 in September of 2007, uranium began a three-year correction, plunging to $40 by April of 2009. Since then prices have recovered and the latest quote shows a price of $73 a pound. Industry sources claim that there is an 80,000-pound a year short fall between mine production and reactor demand. Such demand would create a floor under the price of uranium.
There are over 75 new reactors being planned by China, India and Russia. Peak oil is both real and past. Oil would be at a record price now if the US wasn't in a depression. We need nuclear power and the rest of the world understands that and is preparing for $200 oil.
I pretty much watched the last rocket climb of the metal from the sidelines. I heard guesses of between 450 and 600 companies claiming to be "uranium" juniors but there was a lot more hot air than hot rocks. Maybe 5 or so of the juniors actually had a resource in hand. I would expect much the same in this cycle even if I expect this rally to have legs.
I went out to Arizona to meet with a small American uranium junior recently that not only has a resource in hand, they appear to have a bright future.
The company is American Energy Fields. (AEFI-OTCBB) It will be a year old in April of 2011 but they have aggressively been picking up projects with previous production or exploration history. It is their intent to prove up 50 million pounds of uranium and to go into low cost production.
The company has five projects they are working on at present. The biggest is Artillery Peak in Arizona with 2.8 million pounds of proven uranium. The project has had over 400 drill holes completed and the company released a 43-101 in 2010.
The Coso mine in California went as far as a mine design as part of a $20 million dollar program completed by Western Nuclear and others in the late 1970's. There is a 5.5 million pound U3O8 resource at a grade of .07%. The open pit project showed 3.5 million pounds recoverable but the project has great potential to expand the resource.
What AEFI refers to as their Blythe Uranium project in California actually has three mine sites with two having past production. The Safranke mine actually has about 25,000 pounds of uranium contained in 4000 tons of stockpiled ore. During the 1970's the Sanfranek mine had over 10,000 feet of drilling completed with assay results as high as 6.2%.
American Energy Fields has recently added a big project in North Dakota they call the Connors mine in Slope County. The deposit is shallow and the mineralization was delineated by over 250 historic holes. It's possible the project has both open pit and in-situ leaching potential. The historical resource was an estimated 8 million pounds of U3O8.
The company has another 29 targets in the Arizona Strip Breccia Pipe district. Similar pipes have shown grades of .60 to 1.00%. They own 16 unpatented claims totaling 123 acres.
With some 17 million pounds of U3O8 right out of the chute, AEFI is aggressively moving forward to both picking up more projects and advancing what they have toward production. They are selling for 1/3 to ½ of what their contemporaries are selling for so have giant potential.
AEFI is an advertiser, we are biased. I do own shares and again, I want to remind potential investors that they have a responsibility to shepherd their own money. We share in neither your profits or your losses so do your own due diligence.
American Energy Fields
AEFI-OTCBB $.84 (Feb 3, 2011)
64.7 million shares
American Energy Fields website
Can you post that here? TIA
Alot of the action is likely due to Bob Morriaty [sp] write up over on 321 gold. We're likely buying his shares and his buddies.
Same ole chit.
Vol really picking up!
Looking good again here today... somethings up!
U3O8 on fire... nice vol here today!
I have to think that AEFI is ready to put some good news releases out. It's been too quiet for too long and the Uranium market is on many analyst's watchlist. If I was a gambling man, I'd say that we're due for a press release in the next week.
I searched for more information on AEFI and found reference to it on a "guru" site about "stocks". Interesting reading. Very informative. Looks like the company is getting the word out there and people are noticing.
Agreed... Good things on the way IMO!
I am keeping my fingers crossed, but seeing the spikes in volume last few days makes you wonder "who knows what"... because someone got some shares and that can't be all coincidence.
I have a feeling that money is just the beginning... Things have been quiet lately for AEFI and that 8-k went relatively unnoticed, not even announced. We'll probably see some news next week that will give us an indication of what the plans going forward are. This will be an exciting time for investors in AEFI.
Looks like they just raised some funds... may get interesting going forward!
Looks like AEFI has some new eyes watching it. A couple days of decent volume... must be some good news coming out soon. I'm ready for it!
I'm new to this board, but I do follow AEFI. I saw the news and decided to stop by to see what is being said, read, heard.
I will be here most of the day.
American Energy Fields, Inc. Enters Option Agreement to Purchase Prospect Uranium, Inc.
American Energy Fields, Inc. (OTCBB:AEFI) (the "Company") is pleased to announce that it has entered into an option agreement for the purchase of Prospect Uranium, Inc., a private Nevada corporation and a subsidiary of Tonogold Resources, Inc. (Pink Sheets:TNGL). The agreement gives AEFI a six-month exclusive option to purchase all of the issued and outstanding common shares of Prospect Uranium in exchange for an aggregate of 4 million common shares of AEFI, pending satisfactory completion of due diligence reviews by AEFI and Prospect and other customary conditions to closing. AEFI paid $15,000 for the option. The Board of Directors of Prospect Uranium and shareholders holding a majority of the outstanding shares of Prospect Uranium voting securities have already approved the transaction.
Prospect Uranium explores for and develops uranium mining properties primarily in North Dakota. Prospect Uranium's assets include uranium leases on approximately 1,026 acres of private property in southwestern North Dakota. Historical estimates indicate approximately 8 million pounds of U3O8 in a four square-mile area including and surrounding the uranium leases. Drill logs show uranium mineralized roll fronts in sandstone, with uranium mineralization occurring within 350 feet of the surface. Additional layers of sandstone exist at deeper intervals but have not been cored or logged. Based upon historical data, the Company has identified the potential for development using either open pit or ISR mining methods.
AEFI would also gain the exclusive control of Prospect Uranium's historical exploration database. The database includes over 400 drill logs on and in the immediate vicinity of Prospect Uranium's North Dakota uranium leases. These exploration holes were drilled in the late 1970s. Prospect Uranium's exploration database also includes data from various mining companies on mineral properties in Colorado, Wyoming, Nevada, and New Mexico.
Company President and CEO, Joshua Bleak, stated, "Our goal at American Energy Fields is to find, acquire, and develop natural energy resources in the United States. Prospect Uranium gives us a foothold in North Dakota, one of the most promising and under-explored areas for large uranium deposits in North America. Prospect Uranium's database of historical uranium exploration prospects should give us an inexpensive way to add quality properties to our portfolio. We look forward to updating you on the progress of this project as it moves forward."
About American Energy Fields, Inc.
American Energy Fields, Inc. is a resource company focused on exploring and developing the natural energy resources of the United States. American Energy Fields' corporate strength lies in its management's experience in the natural resource sector. AEFI has one of the most prolific mining databases for energy related projects within the United States. With this database, AEFI will target and acquire projects with previous production and/or exploration and work towards fully developing those projects to drive revenues and build core reserves.
About Tonogold Resources, Inc.
Tonogold Resources, Inc. (Pink Sheets:TNGL) is a minerals exploration company with gold and silver properties in Arizona, Nevada, and Utah.
Safe Harbor Statement
The information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage, and the disclosures under the heading "Risk Factors" which appear in our reports and filing with the United States Securities and Exchange Commission which can be accessed at www.sec.gov. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.
CONTACT: American Energy Fields, Inc.
Corporate Office
480-288-6530
info@americanenergyfields.com
www.americanenergyfields.com
3266 W Galveston Dr. Suite 101
Apache Junction, AZ 85120
Tonogold Resources, Inc.
858-456-1273
jeff@tonogold.com
www.tonogold.com
5666 La Jolla Blvd., #315
La Jolla, CA 92037
Funny to see you here... nice news today!
She is also on our board of directors for LBSR
Nice Play Sicc. Finally got some needed volume. Hope that wasnt all it had to offer.
AEFI has been added to stockcharts.com. Took forever, I requested the add months ago.
http://stockcharts.com/h-sc/ui?s=AEFI&p=D&yr=0&mn=1&dy=0&id=p23630435489
Wow what a crash, picked up a few at .24 to add to what i already had. Back up to .46 bid now. Man I wish I had got more in the .20's
American Energy Fields Inc. invites you to visit us at the upcoming World Resource Investment Conference
American Energy Fields Inc. (OTCBB: AEFI) invites you to visit us at the upcoming World Resource Investment Conference - June 6-7, 2010 at the Vancouver Convention Centre in B.C., Canada. The CEO of American Energy Fields, Joshua Bleak, will be conducting a corporate presentation at the Green Technology/Clean Energy sessions on Sunday, June 6 at 11:30 am in Workshop 3.
The American Energy Fields booth number is 534. You may register for free conference entry at the following link.
http://goldshow.ca
Corporate fact sheet: http://americanenergyfields.com/_resources/fact_sheet.pdf
Coso - Uranium, Inyo County, California
Over $20 Million spent developing project
Completed technical report for project
AEF holds exploration permit from State of California for the COSO State leases
189 Federal lode mining claims totaling over 3700 acres and 2 State leases totaling 838 acres.
Up to 5.5 million pounds of reserves at an average grade of 0.07% U3O8 (not 43-101 verified)
Excellent potential of at least doubling the ore reserves
Engineered pit design containing 3.6 million pounds U3O8
Project is amenable to leach with a 90% average recovery
American Energy Fields, Inc. Receives Exploration Permit From California State Land Department for Coso Project
PHOENIX, June 3, 2010 (GLOBE NEWSWIRE) -- American Energy Fields, Inc. (OTCBB:AEFI) (the "Company") is pleased to announce the California State Land Department has issued an exploration permit covering 800 leased acres for its Coso uranium project. The Company will begin a preliminary exploration program to further the uranium trend identified through the work completed by Western Nuclear, Pioneer Resources, Federal Resources, and Union Pacific Mining/ Rocky Mountain Energy.
Company President and CEO, Joshua Bleak, stated, "Receiving this exploration permit is a major milestone for AEFI and our development plans for the Coso project. It is a tremendous endorsement of the quality of our exploration team and the work they are capable of doing. With the bulk of Coso's historic exploration performed on Federal land, we look to expand the resource potential by now beginning a work program on the 800 acres of State leased land. This is another step in the direction of finding, acquiring, and developing natural energy resources in the United States."
The Coso project, including 169 federal claims and 800 State acres, was previously developed by Western Nuclear, Pioneer Resources, Federal Resources, and Union Pacific Mining/ Rocky Mountain Energy. A total of U.S. $20,000,000.00 was spent developing the project, including the development of an engineered pit design. These exploration efforts established a historic 5.5 million lbs. of uranium with an average grade of 0.07% U3O8.
The Coso project lies in the heart of the Californian mining district of Inyo County. According to the U.S. Geological Survey, (USGS), in 2008 California was the 5th largest mining state in the U.S. with 717 active mines and approximately 10,000 employees. From the 1950's to the 1980's California consistently ranked as one of the top States in the U.S. for uranium exploration and mining. With numerous uranium projects throughout the State, California will likely be a key component in meeting future U.S. uranium demand.
About American Energy Fields, Inc.
American Energy Fields (AEFI) is a resource company focused on exploring and developing the natural energy resources of the United States. American Energy Fields's corporate strength lies in its management's experience in the finance and natural resource sectors. AEFI has one of the most prolific mining databases for energy related projects within the United States. With this database, AEF will target and acquire projects with previous production and/ or exploration and work towards fully developing those projects to drive revenues and build core reserves.
The Norwegian Nobel Committee has decided that the Nobel Peace Prize for 2005 is to be shared, in two equal parts, between the International Atomic Energy Agency (IAEA) and its Director General, Mohamed ElBaradei, for their efforts to prevent nuclear energy from being used for military purposes and to ensure that nuclear energy for peaceful purposes is used in the safest possible way.
I guess she worked at IAEA. Wonder how many other people can claim they won it?
I can't find any references via a google search to a shared Nobel Peace Prize for Dr. Wenrich. Is this really a fact? How many people shared it?
American Energy Fields, Inc. Appoints Nobel Peace Prize Recipient Dr. Karen Wenrich to the Advisory Board
PHOENIX, May 18, 2010 (GLOBE NEWSWIRE) -- American Energy Fields, Inc. (OTCBB:AEFI) (the "Company") is pleased to announce it has appointed Dr. Karen Wenrich to the Advisory Board to oversee the development of its Arizona uranium exploration projects.
One of the most well respected uranium geologists in the United States, Dr. Wenrich brings to American Energy Fields an unparalleled 40 years of expertise in uranium exploration in Arizona and the Southwest U.S. The highlight of her career came in 2005 when she was the recipient of a shared Nobel Peace Prize for her work with the International Atomic Energy Agency (IAEA). While with the IAEA she formulated, prepared, and implemented IAEA activities in the area of "uranium production cycle and the environment" for the front end of the nuclear fuel cycle, including uranium resources, supply and demand, resource evaluation, and technical, environmental, regulatory, safety, and economic aspects of uranium exploration, development, and mine closure.
Dr. Wenrich has authored over 145 publications focused on uranium, geology, and environmental matters including receiving an honorable mention for the Best Paper Award for her essay entitled, "Uranium in Arizona" published in the Arizona Geological Society Digest. Since 1997, she has worked as a consultant in the uranium industry offering her expertise in prospect generation, 43-101 preparation, electron micro-probing, reflected and transmitted light petrography, and X-ray diffraction analyses. During this time, she consulted for Newmont Exploration, Ivanhoe Myanmar, Monarch Resources, and many others.
Dr, Wenrich also spent 23 years working as a research geologist for the U.S. Geological Survey where she studied uranium based ore deposits in Arizona, the Great Basin, New Mexico, Colorado, Mexico, China, and Australia.
President Joshua Bleak said of the appointment, "Adding Dr. Wenrich to the Advisory Board is another step in establishing American Energy Fields as a top exploration and development company focused on the uranium sector. Dr. Wenrich has a wealth of experience including winning a Nobel Peace Prize for her work on atomic energy. She has had numerous articles published in the field of uranium and is an absolute authority when it comes to uranium exploration in the Southwest U.S. We are truly honored to have her join our team as she builds upon the credibility we are establishing as a young company."
About American Energy Fields, Inc.
American Energy Fields (AEFI) is a resource company focused on exploring and developing the alternative energy resources of the United States. American Energy Fields' corporate strength lies in its management's experience in the finance and natural resource sectors. AEFI has one of the most prolific mining databases for energy related projects within the United States. With this database, AEFI will continue to target and acquire projects with previous production and/ or exploration and work towards fully developing those projects to drive revenues and build core reserves.
.67x.75, News out yesterday, fundamentals look good.
Recent news:
American Energy Fields, Inc. Submits Offer to Purchase Anderson Mine
Lots of news coming out and the stock is slowly but consistently getting some play. They really need some market awareness.
American Energy Fields, Inc. Submits Offer to Purchase Anderson Mine
PHOENIX, May 3, 2010 /PRNewswire via COMTEX/ -- American Energy Fields, Inc. (OTC Bulletin Board: AEFI; the "Company") has submitted an offer to Concentric Energy to purchase the Anderson Mine in Yavapai County, Arizona.
American Energy Fields is strategically positioned in the Southwest U.S. to finance and develop emerging clean energy resource operations with a focus on U.S. energy independence. It offers Concentric Energy a great opportunity to be involved as a significant shareholder in the future development of a Company that will make a difference as a U.S. based alternative energy Company.
American Energy Fields has established the platform to develop significant alternative energy resources with its portfolio of potentially low cost uranium properties, qualified management team, and significant mining database. It is committed to American's quest for energy independence.
American Energy Fields believes this is a win/win scenario for both the shareholders of Concentric Energy and American Energy Fields to develop alternative energy solutions and become one of the main contributors for the U.S. to obtain energy independence.
The offered purchase price for the Anderson Mine, as described in the Registration Statement on Form S-1/A filed August 8, 2009, is $500,000 in cash on closing, assumption of all of Concentric's indebtedness as appears on the S1/A balance sheet and through the date of closing, plus 12,000,000 shares of common stock from the Treasury of American Energy Fields, Inc.
If agreed upon, the purchased assets shall include all of the uranium and related assets necessary for the continued operation of Anderson as a going concern (studies, reports, claims, licenses, rights, etc.) substantially in accordance with its historical activities as reflected in the S1/A. The excluded assets and assumed liabilities, if any, will be more fully described in the definitive Asset Purchase Agreement.
About American Energy Fields, Inc.
American Energy Fields (AEFI) is a resource company focused on exploring and developing the natural energy resources of the United States. American Energy Fields' corporate strength lies in its management's experience in the finance and natural resource sectors. AEFI has one of the most prolific mining databases for energy related projects within the United States. With this database, AEF will continue to target and acquire projects with previous production and/or exploration and work towards fully developing those projects to drive revenues and build core reserves.
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labour disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.
SOURCE American Energy Fields, Inc.
This is the same guy associated with Uranium Energy Corp UEC ticker trading at $3.00 on the AMEX.
The future here could be great. The team here seems to have a lot of experience under their belt.
GLTA
American Energy Fields, Inc. Appoints Randall Reneau as Chairman of the Board
PHOENIX, April 20, 2010 (GLOBE NEWSWIRE) -- American Energy Fields, Inc. (OTCBB:AEFI) the "Company", is pleased to announce it has appointed Randall Reneau as "Chairman of the Board."
With a rich history in mining, mineral exploration, and managing public companies, Randall Reneau brings to American Energy Fields the leadership and blended experiences needed for a young resource company to grow. Mr. Reneau is registered as a Certified Professional Geologist with over 35 years of experience in mineral exploration and project management in the United States, Mexico, Brazil, and West Africa. Mr. Reneau was the Co-Founder and currently resides as the Chairman of the Board of Strategic American Oil Corporation (SGCA), a publicly listed oil and gas exploration and production company based out of Corpus Christi, Texas. He served Strategic American Oil as President and CEO from 2007 to 2009. Mr. Reneau also served as Chief Exploration Officer and a director of Uranium Energy Corp., a uranium exploration company publicly traded on the American Stock Exchange, from January 2005 to July 2007. He has significant experience exploring for uranium in the United States, specifically in Texas, Arizona, New Mexico, and Wyoming, the states known to hold the largest uranium reserves. He extensively explored these states while employed in a senior position for Conoco Uranium, a subsidiary of Conoco Ltd., and Wold Nuclear, a privately-held company. He obtained his M.S. in Environmental Engineering from Kennedy-Western University, Boise, Idaho, and a B.A. in Geology from Central Washington University.
Mr. Reneau will provide leadership and guidance in all areas of company development including asset acquisition and development while strengthening the Company's profile in the resource and public sectors. His experience and understanding of the uranium sector and the public markets is unique and will be of incredible benefit to the development of AEFI.
President Joshua Bleak said of the appointment, "Having someone of Mr. Reneau's pedigree join the American Energy Fields team is a major development for our company. Being able to recruit him speaks highly of the team already in place and of our strategic vision moving forward. We are focused on building a world class alternative energy development company and Mr. Reneau brings us one step closer to that realm."
"This is a great opportunity for me to get back into the alternative energy field," said Mr. Reneau. "After being offered the position, I reviewed the framework of the Company and felt it was a perfect fit between my passion for resource development and the company's growth model of finding, acquiring, and developing projects located in the Southwest U.S. I look at the Coso project, the work completed by Rocky Mountain Energy, the potential for near term production, and the possibility of expanding the historical findings, and I know we have the building blocks to create a uranium producing mine. I look forward to being a part of that process. I am very pleased to be joining this skilled team and working towards building a significant company."
About American Energy Fields, Inc.
American Energy Fields (AEFI) is a resource company focused on exploring and developing the alternative energy resources of the United States. American Energy Fields' corporate strength lies in its management's experience in the finance and natural resource sectors. AEFI has one of the most prolific mining databases for energy related projects within the United States. With this database, AEFI will target and acquire projects with previous production and/or exploration and work towards fully developing those projects to drive revenues and build core reserves.
CONTACT: American Energy Fields, Inc.
Investor Relations
480-288-6530
3266 W Galveston Dr. Suite 107
Apache Junction, AZ 85220
Great Info. I am see this as a growing market with lots of opportunity for emerging uranium companies.....
Uranium Investors Intense as American Nuclear Output Rises
Mon, Apr 12, 2010
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Feature Articles, Uranium Articles
By Dave Brown – Exclusive to UraniumInvestingNews.com Steps to secure highly enriched uranium and separated plutonium from falling into the hands of terrorists are being discussed in Washington this week LinkedIn 0diggsdigg Share
In Washington this week, representatives from 46 nations are attending a summit organized to agree on steps to secure highly enriched uranium and separated plutonium from falling into the hands of terrorists. It is the largest gathering of nations hosted by a US president since the signing of the United Nations charter in San Francisco in 1945. The list of leaders participating ranges from heads of state of traditional nuclear powers, like France and Russia, to nuclear-armed rivals like Pakistan and neighboring India.
President Obama is expected to exert pressure on Iran and North Korea to curtail their nuclear programs, however, diplomatic assistance from China will be required, as a permanent member of the UN Security Council with veto power over any resolution and one of the world’s declared nuclear powers. With neither Iran nor North Korea representatives on the summit guest list, Iran has already dismissed the discussions and said it would not be influenced by any decisions made there.
In a sign of progress on the issues, the Russian foreign ministry in Moscow said it would sign a deal with the United States on Tuesday to reduce stocks of weapons-grade plutonium. This week’s summit follows the signing of a nuclear arms reduction treaty signed last week by Obama and Russian President Dmitry Medvedev, and the release of the administration’s Nuclear Posture Review, which shifted focus more towards the threat from extremist groups and nations such as North Korea and Iran.
Of additional interest to uranium investors is the reported increase of US nuclear output production, as reactors in New York, Michigan and California recently returned from refueling outages. According to a report from the US Nuclear Regulatory Commission, output from the 104 US nuclear plants rose 1,313 megawatts to 78,371 megawatts with reactors running at 78 percent of nationwide capacity. Twenty reactors are currently offline.
World Energy Demand Continues to Increase
The International Energy Agency is forecasting that energy requirements will increase globally by 40 percent over the next 20 years. World usage of uranium will be 68,646 tonnes in 2010, however, by 2030 the World Nuclear Association expects that number to swell to more than 343,000 tonnes. The catalyst for the increase in demand will come from China, followed closely by India and Japan.
According to the WNA, there are 436 nuclear power reactors operating in over 30 countries, with approximately 50 reactors under construction in 13 countries.
The WNA forecasts world uranium demand at 74,000 tonnes by 2015, and most of this will have to come directly from mines. In 2007, the world’s known recoverable (‘reasonably assured and inferred’) resources of uranium was equivalent to approximately 5,469,000 tonnes.
There was relatively little exploration for uranium, worldwide, between 1985 and 2003. In 2005 to 2006, after only two years of restarting uranium exploration the results were significant, increasing global uranium resources by 15 percent. However, large parts of the world have still not been explored for uranium. The Brazilian Ministry of Mines and Energy has pointed out that only 25 percent of the country has been prospected for the energy metal so far. Despite the limited exploration, Brazil still ranks in the top ten countries in the world in terms of uranium resources. New uranium exploration and mining projects are currently occurring, or planned, in at least 90 countries. The future development and expansion of civil nuclear energy worldwide confirms the long-term future of the global uranium mining sector.
American Energy Fields, Inc. Commences Trading on the FINRA Over-The-Counter Bulletin Board
URANIUM PRICES SET TO CLIMB
With the recent increase in demand for uranium being viewed as a signal that the spot price has bottomed, sellers have begun to raise offer prices. The buyers have included utilities, producers and intermediaries, and this bullish trend for uranium is anticipated to remain strong.
Spot uranium prices had demonstrated weakness trending downward from a peak of approximately US $136 per pound in June 2007, partly due to Kazakhstan raising production. Supply has tightened lately because with prices in the relatively low range of US $40 per pound, only the most cost-efficient operators have been able to function profitably in the current economic context. On March 19, TradeTech increased the uranium oxide spot price by 50 cents to US$41.25 per pound to reflect the current demand. On March 22, the Ux Consulting Company followed suit by increasing the price of uranium by a dollar to US$42.25 per pound. Providing additional strength to these price increases was the Nymex Uranium appreciation on March 26 of 35 cents to US$42.35 per pound.
Manufacturers, academics, and analysts all seem to agree that the long term fundamentals for uranium prices are compelling. Francisco Tarin, Purchasing Manager at Enusa, a Spanish joint-venture nuclear fuel rod producer, recently said in an interview, “If it goes up to $50 or $60, that would be reasonable because we have seen much higher prices in recent years and the industry could withstand them.” University of Adelaide professor Barry Brook noted that “should the contributing factors be as acute as predicted, the continuing surge in demand for uranium would be extended by a further 20 years.” His bullish outlook at the Paydirt 2010 Australian Uranium Conference was predicated on his forecasts that rising electricity demand and declining fossil fuel dependence will lead to a global demand for mined uranium resulting in price appreciation of at least four times current valuations. Chinese nuclear analyst at Nomura investment bank, Elaine Wu suggested that, “Uranium is going to be the key focus for China because China is not endowed with a lot of uranium resources. Currently even at 8 gigawatt capacity, China has to import about half of its uranium needs.”
The International Atomic Energy Authority, the United Nations’ nuclear watchdog, estimates that in addition to 436 reactors now operating in the world, there are 56 under construction and 200 more planned. Those nuclear reactors are responsible for 15 percent of the world’s electrical power generation and that number is increasing.
China Increasing Capacity
Already the world’s second-biggest energy user, last week China announced the approval for construction of 28 more nuclear power reactors, under a revised target for 2020 to meet rising demand for clean energy and accelerate development of the industry. Each of these reactors will produce one-gigawatt of energy and cost as much as US $2.1 billion to build. A one-gigawatt reactor can generate enough energy to power 800,000 average North American homes for a year and takes approximately 50 months to build.
Tony De Vuono, senior vice president and chief technology officer at Atomic Energy of Canada Ltd., said, “China will be the world’s nuclear industry leader in terms of technology and also in terms of planning for long term 30-40 years.”
Company News
The U.S. Department of Energy reached a joint US $90 million cost-sharing agreement with USEC Inc. (NYSE:USU) on March 23, to fund advanced centrifuge research and the development of uranium enrichment technology. Washington balked on a funding measure in 2009, citing technical issues at the existing plant in Ohio. USEC Chief Executive Officer John Welch said,”We have made significant progress and continue to work hard to address the recommendations of (the Department of Energy’s) independent engineer…we appreciate (the Energy Department’s) vote of confidence in the American Centrifuge technology.” The market has also demonstrated confidence since the agreement on Wednesday with share prices appreciating from US $5.36 per share to US $5.80 at Monday’s closing.
On March 24, Uranium North Resources Corp. (TSX-V:UNR) released an announcement that it was awarded 13 prospecting permits totaling 585,326 acres forming the wholly-owned Aura consolidated gold property in Nunavut.
Mark Kolebaba, President and CEO of Uranium North was pleased with the permits, “We believe that we have delineated a very large, essentially unexplored gold district in Nunavut. 100% ownership of this vast area with anomalous gold in till tied together by surrounding high grade bedrock occurrences is a very exciting opportunity for the Company. Rapidly advancing large land packages at low cost in this environment is what we do well.”
http://resourceinvestingnews.com/3349-uranium-prices-set-to-climb.html
American Energy Fields, Inc. Acquires Coso & Blythe Uranium Projects
American Energy Fields, Inc. (OTC Bulletin Board: AEFI; the "Company") is pleased to announce that it has acquired the 4,180 acre Coso uranium project and the 1,320 acre Blythe uranium project in the mining districts of Inyo and Riverside Counties, California, respectively.
The Coso project, including 169 Federal mining claims and 800 state-owned acres, was previously developed by Western Nuclear, Pioneer Resources, Federal Resources, and Union Pacific Mining/Rocky Mountain Energy. An estimated U.S. $20,000,000.00 was spent on exploration and development of the project, including an engineered pit design, where exploration records indicate 5.5 million lbs. of uranium was identified with an average grade of 0.07 U3O8. American Energy Fields, Inc. is currently developing an exploration plan to confirm the historic data with the goal of moving the project towards production.
The Blythe project consists of 66 Federal mining claims in Riverside County, California covering 3 historic mines, the Safranek, the McCoy Wash, and the Little Ore Hill operated by Humbug Mining and Bokum Corporation. According to Bokum's records during the years of 1963 to 1964, the Safranek Mine produced and shipped 1,400 tons of uranium ore averaging 0.80% U308 to the VCA mill in Salt Lake City, Utah for processing. These records also indicate the Safranek site currently contains 100 tons at 0.40% U3O8 and 4,000 tons at 0.30% U3O8 of stockpiled ore, while the McCoy Wash has 3,000 tons of stockpiled ore with a grade of 0.20% U3O8. Bokum Corporation drilled the property in the early 1970s and the results indicated approximately 153,000 lbs of U3O8 while outlining a further potential for an additional 2,000,000 lbs of U3O8. American Energy Fields, Inc. aims to identify, expand, and develop the ore body with the goal of putting the past producing mines back into production.
Company President and CEO, Joshua Bleak, stated, "This acquisition is a major development in the Company's ongoing exploration and development program. To be able to add two projects with such historic significance to our portfolio initiates vertical growth to our Company and shareholder value. Our goal at American Energy Fields is to find, acquire, and develop natural energy resources in the United States. We aim to take advantage of the work done by so many reputable mining companies like Rocky Mountain Energy and Federal Resources to find ore bodies that have been previously identified and developed, thus mitigating our exploration risk and expenses. Our database of mining projects in the Southwest U.S. is unrivaled and allows us to find projects of this significance at a minimal cost to the Company. It is rare to find projects of the Coso or Blythe's significance where resources were developed and mined and engineered pit designs were developed by world class engineers. We look forward to updating you on the progress of these projects as it becomes available."
Outstanding Shares
27,450,000 as of Jan 25, 2010
#
Authorized Shares
80,000,000 as of Mar 31, 2009
American Energy Fields (AEF) is a resource company focused on exploring and developing the natural energy resources of the United States. American Energy Field’s corporate strength lies in its management's experience in the finance and natural resource sectors. AEF has one of the most prolific mining databases for energy related projects within the United States. With this database, AEF will target and continue to acquire projects with previous production and/or exploration and work towards fully developing those projects to drive revenues and build core reserves.
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American Energy Fields, Inc.
American Energy Fields (AEFI) is a resource company focused on exploring and developing the natural energy resources of the United States. American Energy Fields' corporate strength lies in its management's experience in the finance and natural resource sectors. AEFI has one of the most prolific mining databases for energy related projects within the United States. With this database, AEF will target and acquire projects with previous production and/or exploration and work towards fully developing those projects to drive revenues and build core reserves.
To learn more, visit: www.americanenergyfields.com
Per Share Data |
Authorized Shares (m): 200.0 |
Outstanding Shares (m): 50.5 |
Preferred Shares A/S (m) 25.0 |
Preferred Shares O/S (m) 0.0 |
Exploration/Mining Database
American Energy Fields has one of the most prolific mining/exploration databases for projects located in the Southwest United States. With this database, the Company aims to acquire projects that have previously been developed. It is the Company's philosophy that the best place to locate minable resources is where natural resources have been previously identified. There are numerous reasons why projects are abandoned including mismanagement, economics, and or title issues. Projects are not always dropped or abandoned because the minerals aren't there. AEFI will seek to find these types of projects through the use of its database and work to acquire and develop them.
Vision
With the international economic crisis over the past two years ending, we have seen the fall and rebound of almost all commodities in the resource sector. Uranium is one of the few commodities which has not seen a rebound in its trading price. With new reactors being commissioned throughout the world, we believe it is just a matter of time until uranium prices rebound. In the mean time, AEFI sees this deflated price as an opportunity to acquire as many quality uranium projects as possible.
With the international markets getting stronger, demand for energy is now once again growing. We are optimistic about the growing demand for natural energy resource and see a bright future for uranium in particular and strongly believe that the United States has a strong future in the development of its own uranium resources to gain "energy independence". We see the Company playing an important part in that development.
Acquisition Targets
The Company has identified several high value targets for acquisition with significant potential for uranium production. We will move to acquire these prospects in the coming months.
Mr. Bleak continues, "These high value uranium targets are the initial focus of our plan of development and growth. We have an incredible opportunity to locate and acquire uranium projects at a deflated cost. The United States has significant natural resource reserves waiting to be brought to the market place, and with our focus and the execution of our business plan, we aim to be at the forefront of that endeavor."
The Company
The Company has developed significant infrastructure on which to grow, specifically:
Management
President and Director -- Joshua Bleak has 12 years experience in the mining and exploration industry as well as three generations preceding him with extensive experience in the mining and natural resource sectors. He has served as President for Southwest Exploration Inc., an exploration and mining company, and North American Environmental Corp., a consulting company to exploration companies. With Southwest Exploration, Mr. Bleak was responsible for optioning the company's potash holdings to Passport Potash Inc., a publicly-traded company on the TSX Venture Exchange. As a part of North American Environmental Corp., Mr. Bleak recently completed permitting and drilling of the potash project which is located adjacent to a U.S. national park. From February 2007 to September 2008, he served as Senior Landman of NPX Metals, Inc., an exploration and mining company. Through the use of his extensive mining and exploration database, he identified numerous mining prospects and negotiated acquisitions, building a significant property portfolio of over 10 projects with strong gold, silver, copper and uranium signatures and histories. Since January 2005, he has served as Secretary and a director of Pinal Realty Investments Inc., a real estate development company.
Chief Financial Officer -- David P. Lieberman is a Certified Public Account with professional experience dating back to 1970. He is currently a Director and CFO for Datascension, Inc., a publicly traded company whose revenues exceeded $20 million in 2007. From 2006 to 2007, Mr. Lieberman served as Director, COO, and CFO for Dalrada Financial Corporation. He consulted for John Goyak & Associates from December 2002 until June 2003 when he accepted the position as CFO effective July 1, 2003 and resigned September 2006. John Goyak & Associates is a privately held company that provides consulting services to the aerospace industry. Mr. Lieberman graduated from University of Cincinnati with a BBA in 1967.
Director -- Randall Reneau is registered as a Certified Professional Geologist with over 35 years of experience in mineral exploration and project management in the United States, Mexico, Brazil, and West Africa. Mr. Reneau was the Co-Founder and is currently positioned as the Chairman of the Board of Strategic American Oil Corporation (SGCA), an oil and gas exploration and production company based out of Corpus Christi, Texas. Mr. Reneau was also recently the co-founder, Principle Geologist, Chief Exploration Officer and the initial driving force who developed the uranium property portfolio for Uranium Energy Corp. (UEC), an Amex listed company with a market cap in excess of $177 million. He has significant experience exploring for uranium in the United States, specifically in Texas, Arizona, New Mexico and Wyoming, the states known to hold the largest uranium reserves. He extensively explored these states while employed in a senior position for Conoco Uranium, a subsidiary of Conoco Ltd., and Wold Nuclear, a privately-held company. He obtained his M.S. in Environmental Engineering from Kennedy-Western University, Boise, Idaho, and a B.A. in Geology from Central Washington University.
TECHNICAL TEAM
Chief Geologist -- Joe Wilkins is a geologist with over 42 years of experience. Mr. Wilkins most recently worked with NPX Metals, identifying and delineating the North Star Copper project. During the 1990s, he worked with St. Joe Minerals and LAC Minerals where he is credited with discovering the Bull Frog Mine in Beatty Nevada which produced a total of 2.9 million ounces of gold. He conducted mineral exploration programs in the USA, Canada, Chile, Peru, and China. He is also credited with discovering the America Mine, which produced over 400,000 ounces of gold. Mr. Wilkins has a M.S. in Geosciences and a B.S. in Geophysics, Geochemistry, and Geology with Honors from the University of Arizona.
Geologist -- Richard Dorman has a vast array of experience in the mining industry. He has 33 years experience as a geologist, chief chemist, and metallurgist and refinery supervisor. Mr. Dorman worked with Getchell Gold Corporation, a division of Placer Dome Inc. and Universal Uranium, where he developed the Artillery Peak project. Mr. Dorman has a B.S. in Geology from the Mackay School of Mines, University of Nevada-Reno.
Geologist -- Shelby Cave has 9 years experience as a field geologist. Ms. Cave's recent work includes geologic mapping of copper porphyry, gold and uranium properties as well as, coordinating and overseeing drilling programs. Ms. Cave has a M.S. in Geology from Arizona State University and a B.S. in Geology with Honors from the University of North Carolina-Chapel Hill.
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