Prophecy Development’s John Lee on the Gibellini Project and vanadium market in the US
“We are embarking on the permitting process with construction starting in 2021. We will be the first greenfield vanadium mine production coming onstream in the middle of 2022. So, in less than three years from now, you will be seeing the first vanadium mine in the United States, in a politically safe jurisdiction. We believe we will hit production right when the supply-demand curve is in most acute position.” States John Lee, Executive Chairman of Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF), in an interview with InvestorIntel’s Tracy Weslosky.
John went on to discuss the effect of US-China trade war on the vanadium market in the US. He said that the US is currently relying on non-Chinese sources such as South Africa and Russia for its vanadium needs. Sooner or later these vanadium feeds are going to run out. John also provided an update on Prophecy’s Gibellini Vanadium Project in Nevada. He said that the company has spent over $15 million in the last two years to advance the project. The company has spent a lot of time on team building, permitting, environmental work and local community relations. Currently, Prophecy is doing engineering work and permitting and the company is led by a CEO who has permitted mines in Nevada before.
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