Yuk be interested to know what you think of IRC J/V 75% of their Richmond Project to a Chinese connected group ... great de-risking SP (but taking some upside interest away)
from IRC ann.-on their near-surface highest grade Lilyvale project (only a stones throw from QEM land)
last Vanadium update from IRC >
“We look forward to further results and moving forward with AXF on the downstream processing studies and upgrading the Lilyvale resource.(In talking with IRC-MD he believes there won't be shale oil issues with the bulk of the Lilyvale resource just a free-dig)
With the soft oxide mineralization just 4m below the surface at Lilyvale, the scale of the project has the potential to compete with any world-class vanadium deposit and meet the supply needs of both the steel and emerging energy storage markets.”
AXF Vanadium Managing Director Dr Shaun Ren added: “These initial results have provided us with growing confidence in the project and formed the basis to move to the next stage where we have committed a further A$5m to optimize pre-concentration, commence downstream processing work and develop a pathway to commercial production.
(the Above is going to take some time)
Really both IRC/AXF + QEM have their interests tied on mining licenses / downstream processing(Or does QEM plan to do all the processing on site?) - securing sales contracts etc
