Date: Jun 13, 2018
Highflying Tando Resources (ASX:TNO) could deliver further share price upside as management gears up to start its maiden drilling campaign at the SPD Vanadium Project in South Africa.
Vanadium producers and emerging players in the sector have generally experienced robust share price momentum over the last 12 months.
The price of vanadium pentoxide with a grade of more than 98% has increased from US$3.50 per pound at the start of 2017 to current prices of around US$15 per pound.
A combination of exploration success and commodity price momentum has resulted in Tando’s share price increasing substantially over the last 12 months.
The company is trading close to its 12 month high of 26 cents, representing a five-fold gain in the space of 6 months.
The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.
Conversion to JORC mineral resource
SPD is a large, high grade vanadium deposit located in the established vanadium production hub of South Africa.
The upcoming 18-hole/1650 metre phase 1 drill program aims to verify historical drilling so that the existing resource classed as inferred under the SAMREC code (see below) can be converted to a JORC mineral resource.
