Ann: Positive metallurgical results from Richmond Vanadium Projec, page-128

From recent research report>MAY18

An update to the Mineral Resource for the Richmond project has moved it into the ‘world class’ category standing at 2,579 million tonnes at 0.32 per cent vanadium pentoxide (V2 O5 ) at a 0.29 per cent lower cut-off grade.

“It’s a monster Resource and we have Chinese backing in our Joint Venture partners who can deal with taking it to that commercial level and all the offtakers that come with that, because they know them—they have a complete network already in place,” Price said. China is the logical step for a company with such a vanadium Resource as the Chinese government considers ways of replacing its current coal-fired energy generation while closing steel mills to ease pollution and consolidate environmental controls.

“There’s an enormous gap and supply crunch now, let alone in the future with the growth in vanadium redox flow batteries self-evident,” Price continued. “We want a seat at that table, we have one of the largest vanadium Resources in the world and it sits just five metres below the surface.”