SYR and its Vanadium resource, page-20

From 1/11/18 new standards in china  were introduced  to reduce the use of substandard steel,  and  makebuildings in Chinamore earthquake resistant.

At the time Vanitec issued this Statement

which contained the following

“Vanadium is the most commonaddition for high strength rebar, because it offers the best combination ofhigh strength, good ductility, bendability, weldability, and reducedsensitivity to strain aging.”

Vanitec a company whch brings together representatives ofcompanies and organisations in  themining, processing, manufacture, research and use of vanadium andvanadium-containing products.

 The objective of Vanitec is to promote the use ofvanadium bearing materials, and thereby to increase the consumption of vanadium.

Vanadium is used in many industries and applications, fromautomobiles, power generation, and hand tools, to ships, industrial tools andaeroplanes.

The various uses can be viewed Here

These new standards appear to be having a positive effect onpricing of vanadium which has seen demand drive prices to US29.90 for 98.5% and$133.5 for 99% according to Investing News

This pricing is well above the $12 and $50 used in Syrah scoping study of 30/7/2014 (page 6)

Review of this scoping study is underway by SYR management andthese price increases must surely be making their decision a bit easier.

No doubt funding of the vanadium project which wasoriginally projected at US$80m and at a payback of 3.4 years will be moreattractive to financiers.