Highlights:
“We are embarking on the permitting process with construction starting in 2021. We will be the first greenfield vanadium mine production coming on-stream in the middle of 2022. So, in less than three years from now, you will be seeing the first vanadium mine in the United States, in a politically safe jurisdiction. We believe we will hit production right when the supply-demand curve is in most acute position.” States John Lee, Executive Chairman of Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF), in an interview with InvestorIntel’s Tracy Weslosky.
John went on to discuss the effect of US-China trade war on the vanadium market in the US. He said that the US is currently relying on non-Chinese sources such as South Africa and Russia for its vanadium needs. Sooner or later these vanadium feeds are going to run out. John also provided an update on Prophecy’s Gibellini Vanadium Project in Nevada. He said that the company has spent over $15 million in the last two years to advance the project. The company has spent a lot of time on team building, permitting, environmental work and local community relations. Currently, Prophecy is doing engineering work and permitting and the company is led by a CEO who has permitted mines in Nevada before.
Further details can be found at www.prophecydev.com
Prophecy Development Corp (TSX: PCY, OTC: PRPCF) owns Gibellini mining project – the only large-scale, open-pit, heap-leach vanadium project of its kind in North America. Located in Nevada, Gibellini is currently undergoing EPCM and EIS preparation. With global vanadium supply declining and demand increasing, this is the right project at the right time. Prophecy has no bank debt and approximately 95 million shares outstanding.
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