October 29, 2018 (Source) — United Battery Metals Corp. (CSE: UBM, OTC PINK: UBMCF, FWB: 0UL) (“United Battery Metals” or the “Company”) is pleased to provide the following commodities update regarding the vanadium market.
During 2018, the vanadium spot price has risen from $10 (U.S.) per pound up to approximately $30 (U.S.) per pound, making vanadium the highest performing among the battery metals sector. Numerous factors such as the Chinese implementation of new building code requirements, which increases the need for high-strength steel, have led to this increase. China, the world’s largest vanadium producer, has now become a net importer of vanadium. Although the majority of global vanadium output is currently used in strengthening steel, many experts predict that the deployment of vanadium flow batteries (VFB’s) in large-scale energy storage applications over the next five years will significantly increase the demand for vanadium.
Vanadium is growing in importance for key industrial sectors, in particular steel and renewable energy. Currently, most of the world’s vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with vanadium being used in energy storage applications where its substantial cost and performance benefits make it a superior choice to lithium-ion batteries in several areas. As technology further develops, the amount of vanadium that will be required for energy storage in vanadium flow batteries is also expected to significantly increase.
Vanadium prices for 98 percent flake V2O5 (vanadium pentoxide) have steadily risen from under $3 (U.S.) per pound less than three years ago to approximately $30; its current price is $33.10 (U.S.) per pound.
The Company’s common shares trade on the OTC Markets Group Inc.’s over-the-counter market in the United States and are DTC eligible with the Depository Trust Company (DTC), under the symbol UBMCF.
ON BEHALF OF THE BOARD OF
UNITED BATTERY METALS CORP.
/s/ Matthew Rhoades
Matthew Rhoades
Chief Executive Officer and Director
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this news release are made as of the date of this release. Except as required under applicable securities legislation, the Company undertakes no obligation to update or revise forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
