Date: Oct 8, 2018
Precious metals expert Michael Ballanger explains why he believes the stars are aligning for vanadium and uranium.
Company mentioned: Western Uranium Corp. (WUC:CSE; WSTRF:OTCQX)
Western Uranium implemented a special resolution to add “& Vanadium” to its corporate moniker. On September 27, the company put out a news release updating the market on a number of developments, the most interesting and appropriate being the name change that will take effect in early October.
Vanadium is used in the hardening of steel (90%) with the residual 10% being deployed in vanadium flow batteries, integral to the electric car movement. However, the main price driver for vanadium lies in new Chinese building code requirements pertaining to the need for high-strength steel in the construction industry. Vanadium closed the session at $22.30/lb up 21.8% since I first wrote about the company on August 30.
