News Release...looking goodThe comparison with the working mine in South Africa is very exciting. It shows a posive realistic future for the comapany. "The extensive knowledge and data now available is applicable directly to the significant mineralization present on VanadiumCorp's Lac Dore mining claims. Mr. Girard considers the Lac Doré project as an advance stage project which can be quickly brought to development." The chart gives an idea of what a great resource we have. The idea of refining the materials here in Canada instead of exporting the raw materials looks very possible. the picture is starting to get clearer already. Check out the chart below....
| | South Africa | Lac Doré |
| Resources | 200 millions tons ore | > 400 millions tons |
| Magnetite Res | 200 millions tons | 100 millions tons |
| Accessibility | Scattered ownership | 50% VanadiumCorp, 50% BlackRock metals |
| Headgrade | 1.5-1.6% V2O5 Undiluted | 0.45% V2O5 diluted |
| Concentrate | 1.5-1.7% V2O5 | 1.2-1.5% V2O5 |
| Concentration Factor | 1:1.1 | 1:3 |
| Mine setting | Strip mining | Open pit mining |
| Thickness | 1.5 meters | 100-200 meters |
| Length | 100's of km | 17 km |
| Dip of layers | 10-20o | 70o |
| Pit ratio | >10 | <1.5 |
| Mining cost | Rising | Low |
| Mine-mill distance | 110 km | <2 km |
| Ore type | Partly oxidized, soft | Fresh, hard and abrasive |
| Grinding cost | Low | High |
| Concentrate purity | 2% SiO2 | <1% SiO2 |
| Mill recovery | 90% of the vanadium content | 75%, to be improved |
| Refin. Recov. | 78% average | >80% expected |
| Coal | Cheap | From Pennsylvania, other alternatives |
| Natural Gas | Available | Not available |
| Electricity | Expensive, unreliable | Cheap and abundant |
| Labor | Over staffed | Efficient, automated |
| Labor Cost | Cheap but rising | Expensive |
| Expertise | Available | Needed to be brought in |
| Soda Ash | Expensive, cnd$350/t in 1997, around $500/ton today | Cheap, cnd$280/t (June 2013)1 |
| Climate | Dry and hot | Harsh and cold |
| Water | Expensive | Abundant |
| Environment | No restriction for now | Zero emission |
| Politic | Unstable country | Stable country |
| Taxation | Royalties based | Profit based |
| Duty to USA | 13% | 0% |
| Cost of prod. | US$1.70-1.802 | US$1.60-1.70, 1997 estimates |
| Corporation | Largest russian steel producer Evraz | Junior companies |