Panneton on how Prophecy’s Gibellini Project will be the first official primary vanadium mine in the U.S.
“The Gibellini Project is an excellent low-capital vanadium project that can be developed in Nevada in the U.S. There are no political risks. The feasibility study is completed. There is no red flag in the processing. It is a very solid project. That is what people saw while writing the checks.” States Gerald Panneton, President and CEO of Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.
Tracy Weslosky: Allow me to start by congratulating you Gerald. You are brand new to the team. You have got a formidable career in the resource industry. I would just like to welcome you as the new CEO for Prophecy.
Gerald Panneton: Yes, October 10th was my first day on the job.
Tracy Weslosky: Gerald we noticed that you attracted some institutional investors in this last round of financing, which is highly applaudable in these current markets, especially for a project your size. Can you tell me what it is that drew them in?
Gerald Panneton: The Gibellini Project is an excellent low-capital project that can be developed in Nevada in the U.S. There are no political risks. The feasibility study is completed. There is no red flag in the processing. It is a very solid project. That is what people saw while writing the checks.
Tracy Weslosky: There has been a constant news flow since you joined the team. Recently you also attracted Ron Espell as VP Environmental and Sustainability to your management team. Can you tell us a little bit more about your management team overall?
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Gerald Panneton: When you bring a project into production and you want to do it efficiently and very well you bring expertise. Johnny brought me as CEO to develop the project because that will be my fourth mine that I put together during my career. You build mines and you build projects like this with a team. Ron Espell is the guy that has all the experience permitting projects in Nevada.
Tracy Weslosky: Of course those of us interested at InvestorIntel in issues of sustainability, the Gibellini Project that Prophecy has is one of the first to primarily produce vanadium in North America. Can you tell us a little bit more about the Gibellini Project please?
Gerald Panneton: Yes, the first official primary vanadium mine in the U.S. will be the Gibellini Project. It is the most advanced of all the projects.
Tracy Weslosky: With experience taking a mine fully to production, can you tell us what attracted you to this project?
Gerald Panneton: The main reason I got involved in Prophecy is because I think vanadium has a solid future in terms of its use mainly for the steel industry, which has been 90% of its consumption. The growing number will be in the battery sector for long-term storage.
Tracy Weslosky: With everything that is happening in the vanadium markets presently, can you tell us what we should anticipate as potential shareholders in Prophecy in the next quarter or two?
Gerald Panneton: Well we are planning to continue the baseline study that we have initiated and of course the engineering. We are planning also to start drilling sometime in March or April because one of the deposits, the Louie Hill deposit, has not been drilled off completely. Our deposit, the Gibellini, is relatively concealed, but the Louie Hill further south is not. We believe we can probably increase our resource or double our resource at Louie Hill…to access the complete interview, click here
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