Vanadium Becoming Essential Vanadium Becoming Essential for Accelerating Global Energy Transformation as Well as Strengthened Steel Rebar
Thursday, December 13, 2018, 8:30 AM ET
Vanadium Becoming Essential for Accelerating Global Energy Transformation as Well as Strengthened Steel Rebar
PALM BEACH, Florida, December 13, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
Vanadium has made a huge comeback in 2018. Vanadium's price rise in 2018 has been nothing short of spectacular rising dramatically from USD $20/lb to above USD $33/lb in October 2018. Prices in China have more than tripled over the course of 2018 as a result of Chinese construction laws requiring vanadium to be used in steel rebar. Vanadium and Energy storage is also a very important disruptive trend resulting in a growing demand for vanadium redox flow batteries which involves storing energy that can later be harnessed for electricity to power our homes, our cars - our future. The International Renewable Energy Agency (IRENA) states Batteries for energy storage could reach 250GW by 2030 as demand for Energy Efficient Batteries is generating new levels of growth. Active mining companies in the markets this week include Delrey Metals Corp. (CSE:DLRY) (FSE:1OZ), Albemarle Corporation (NYSE:ALB), Largo Resources Ltd. (TSX:LGO) (OTC:LGORF), Katanga Mining Limited (TSX:KAT) (OTC:KATFF), First Vanadium Corp. (TSX-V:FVAN) (OTC:FVANF).
Delrey Metals Corp. (CNX:DLRY) (FSE:1OZ) BREAKING NEWS: Delrey Metals Corp is pleased to announce it has entered into and closed a share purchase agreement dated December 12, 2018 (the "Share Purchase Agreement") with WEM Western Energy Metals Ltd., a private arm's length corporation ("WEM"), to acquire all the issued and outstanding share capital of WEM. Pursuant to the terms of the Share Purchase Agreement, the Company issued 4,250,000 common shares of the Company (each, a "Share"). All securities issued pursuant to the Share Purchase Agreement will be subject to a four month statutory hold period.
WEM owns a 100 percent undivided, unencumbered legal and beneficial interest in both the Peneece and the Blackie Vanadium properties (the "Properties"), located in British Columbia. The Properties cover a total area of 2,714 hectares and host vanadium mineralization within large bodies of titaniferous magnetite. Both properties are strategically located on tidewater, near to the small coastal cities of Port Hardy (Peneece - 68km) and Prince Rupert (Blackie - 96km).
About the Peneece and Blackie Vanadium Projects:
The Properties are comprised of large-scale ultramafic complexes which are intruded by gabbroic bodies hosting iron-titanium-vanadium (Fe-Ti-V) mineralization within massive titaniferous magnetite. Two of the gabbro bodies mapped on surface display lateral extents of 4.8km x 0.8km (Peneece) and 1.2km x 0.4km (Blackie).
Highlights:
-- Historic samples collected from the gabbro on the Blackie assay up to
2.14% V205.
-- The Blackie property is located in a historic mining district. The
adjacent past-producing Yellow Giant Mine, located less than 10km from
the property and operated by Banks Island Gold as recently as 2015
initially boasted a 414% IRR, showing the economic potential that exists
on Banks Island.
-- McDougall (1984), commented that, "An unusually strong and extensive
magnetic anomaly exists over the [Peneece Property]. It was, and still
remains the largest flux gate magnetic anomaly noted by the writer during
many years of work on the West Coast. The size and overall magnetic
intensity of the anomaly were only exceeded at the multi-billion ton
'Klukwan pyroxenite-amphibolite' deposit in S.E. Alaska."
-- Magnetic concentrate from limited float samples collected distal to the
magnetic anomaly on the Peneece Property assayed up to 0.59% V205.
-- Both properties are easily accessible by boat or helicopter and workable
year round. Historic barge-logging was completed within and near to the
project areas, which has created a network of logging roads and allows
for low cost exploration and development.
An initial work program including a high-resolution airborne magnetic survey is planned in the near term on both Properties. Read this and more news for Delrey Metals Corp at https://www.financialnewsmedia.com/news-dlry
Other recent developments in the mining industry include:
Largo Resources Ltd. (TSX:LGO.TO) (OTCQX:LGORF) recently announced record cash provided before non-cash working capital items of $127.5 million and basic earnings per share of $0.14 on record revenues of $149.5 million during the third quarter 2018. Production at the Maracs Menchen Mine for the quarter was 2,563 tonnes of V2O5, representing a new quarterly production record and the Company's strongest quarter of production to date. Mark Smith, Chief Executive Officer for Largo, stated "Largo delivered robust financial performance as a result of record operational output from the Maracs Menchen Mine in the third quarter. The Company also reported the highest ever revenues and operating cash flows to date of $149.5 million and $113.4 million , respectively, and continues to strengthen its balance sheet every quarter. Production at the Maracs Menchen Mine continued to be strong delivering its best quarter of the year with record production of 2,563 tonnes of V2O5. We continue to advance the expansion project at the Maracs Menchen Mine and the Company remains on track to achieve its increased production guidance for 2018."