What's interesting also, is the size of the project - especially look at Figure 4
of company's last update:
Global vanadium projects categorised by resource grade and grade in concentrate
>>"and Tando has reported high grades of over 2 per cent from magnetite pipes that are similar to the magnetite pipe once mined by Xstrata at the Kennedy’s Vale mine.
The advantage of magnetite pipes is that they are almost 100 per cent magnetite meaning there is no stripping of waste material required to get to the mineral-bearing ore.
Similarities between Tando’s SPD project and the Kennedy’s Vale mine mean Tando could also possibly mine its project using direct leaching – which would make it attractive to makers of vanadium redox flow batteries.
These types of deposits can be virtually “dig and ship” operations.
Most vanadium projects globally only produce around 1-2 million tonnes each year.
The only pure play producers of vanadium are Toronto’s Largo Resources, which processes 1.4 million tonnes each year from its Vanadio de Maracás Menchen mine in Brazil, and Tando’s neighbours Bushveld Minerals, which processes 2 million tonnes from the Vametco operations in South Africa. In fact South Africa is one of three major global vanadium producers".<<
What is amazing: >>The "project returned high-grade results of 2.08 per cent and 2.02 per cent vanadium pentoxide. Notably, these are whole rock (or in situ) results, not concentrate grades, ...
Vanadium in demand
... future demand stems from its role in vanadium batteries, which can store more power and last much longer than lithium batteries.
Projections estimate new demand of 300,000 tonnes of vanadium coming online over the next few years because of VRFBs – more than three times what is currently produced".<<
