The 188 million tonnes grading 1.23% V2O5 “continues to compare highly favourably to other vanadium deposits globally, as the largest global undeveloped mineral resource, as well as the largest high-grade resource”.
According to Vanadium Resources, the majority of the high-grade resource is anticipated to be mined via an open cut development.
Vanadium Resources said it was progressing its scoping study into downstream V2O5 production under the supervision of Les Ford, “a globally renowned vanadium expert”.
Vanadium Resources is estimated to have about A$1 million cash after raising $800,000 late last year by issuing new shares at 4c each.
Those shares were trading at 2c in afternoon trade today, representing a 67% gain on the session and capitalising the company at $7.5 million.
www.ferroalloynet.com
