FMS- Magnetite-Vanadium

 

Haven’t reported on I/O prices for a while, steel works are still using it in big qtys.

    Iron ore +0.3% to $US74.55 a tonne

 

“Vanadium rarely exists as a free element in nature but can be found in about 65 different minerals, including magnetite, vanadinite, carnotite and patronite.”

Magnetite is what FMS has at Canegrass.

“magnetite ore typically has a much lower iron content when mined of between 25% and 40% Fe and in this form is unsuitable for steel making. The main iron mineral in magnetite ore is the ferrous iron oxide magnetite (Fe₃O₄). Magnetite ore requires complex processing to separate magnetite minerals from other minerals in the ore to produce an almost pure magnetite concentrate with an iron content of between 68% Fe and 70% Fe that is highly sought after by steel makers.”

 

FMS /Tio are on a project/budget  to develop PIOP. I was wondering why they   branched out to Canegrass.

Well!

Make your own assumptions.

FMS has heaps of Magnetite at Canegrass.

Seems like a win win. High price Vanadium, highly marketable Fe.

Possibly why beneficiation suggested at FMS site.

won't be reading the above in the next Qtly.

Read the last Qtly and my impression was lots of work happening but no detail stated.

GLTA