Prophecy’s John Lee on securing a resource estimate of over 50 million ounces of high grade silver

“It is only recently that we started the program on this wonderful silver project called Pulacayo in Bolivia. We acquired the project in 2015 at the bottom of the cycle when silver was $14/oz…This is the second-largest silver mine in the world based on historical production…This is a very well advanced, low technical risk project…It has a feasibility study, it is fully environmentally compliant. It has a social license to operate in Bolivia and it has over 95,000 meters of drilling which resulted in a resource estimate of over 50 million ounces of silver at a very high grade.” States John Lee, Executive Chairman of Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF), in an interview with InvestorIntel’s Peter Clausi.

John went on to say that the previous operator had spent over $25 million in developing the project. The project has a paved road, access to power and water and there are several mills close to the project. In the last two years, Prophecy has brought in very competent people on board who can take the project all the way to production. The three people who came on board have over a hundred years of experience in commissioning, permitting, exploring and operating mines in Nevada and elsewhere in the world. John also provided an update on Prophecy’s recently announced private placement. He said that the private placement has been fully subscribed and a prominent investor took the bulk of the financing.

To access the complete interview, click here

Disclaimer: Prophecy Development Corp. is an advertorial member of InvestorIntel Corp.




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.

To access the complete interview, click here

Disclaimer: Prophecy Development Corp. is an advertorial member of InvestorIntel Corp.




Prophecy Development’s Oosterman on the permit license process for the Gibellini Vanadium Project in Nevada

Recently during PDAC 2019, Danniel Oosterman, Vice President of Exploration at Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF), shared an update on the Gibellini Vanadium Project in an interview with InvestorIntel’s Peter Clausi.

Danniel said: “Currently we are in the permitting stage. We are an advanced stage project. This month we are about to submit all our baseline studies on the project. We are basically going to submit that and our updated mine plan of operations and what that will do, it will be reviewed by the BLM and it is going to kick off our environmental impact statement…at the end of that process we should have a permit in hand to mine and we will be the first vanadium mine in the United States.”

Prophecy is developing the Gibellini Project – the only large-scale, open-pit, heap-leach vanadium project of its kind in North America. Located in Nevada, Gibellini is currently undergoing EPCM and Permit preparation. Prophecy also has mining projects in Mongolia and Bolivia.

To access the complete interview, click here

Disclaimer: Prophecy Development Corp. is an advertorial member of InvestorIntel Corp.




Prophecy Development CEO says: ‘definitely good timing to get involved in vanadium’

“I think it is definitely good timing to get involved in vanadium, but also you would not see myself if I were to be in a conflict area. I have spent most of my career in conflict areas when I was working with Barrick Gold for many years. I definitely prefer to be either in Canada or the U.S.” 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: Prophecy Development Corporation, their mandate is to seek vanadium properties that are in conflict free areas in the planet. Is that correct?

Gerald Panneton: I think it is definitely good timing to get involved in vanadium, but also you would not see myself if I were to be in a conflict area. I have spent most of my career in conflict areas when I was working with Barrick Gold for many years. I definitely prefer to be either in Canada or the U.S.

Tracy Weslosky: That is a great segue for asking you, with your significant professional career you have just accepted the role as CEO and President for Prophecy Development. Can you tell me why you would take this role at this point in your career? We as shareholders want to know Gerald. 

Gerald Panneton: It is very simple. I am a shareholder too. More importantly is that I have already built three mines during my career; two at Barrick and one with the Detour Lake project. You do not join a company because you just want to join a company. There must be a reason. The main reason is that Prophecy Development or PCY ticker is undervalued, tremendously undervalued compared to the value of the vanadium deposit. Of course it is subject to the vanadium price.

Tracy Weslosky: Alright so let us discuss vanadium prices. For those of you out at InvestorIntel who are not familiar with how hot vanadium is right now you should check our trending section. Vanadium continues to be one of the most well-read topics that we are covering presently. There are not a lot of real players out there in the vanadium market, are there Gerald?

Gerald Panneton: No, mainly 50% of the production comes out of China, 10% South Africa, 10% Brazil, maybe 10% to 15%. There are two types of deposits that will produce vanadium. The one we have at Gibellini is one of the easiest ones compared to all the others. 

Tracy Weslosky: You just made an announcement about the Gibellini with an MOA with the Bureau of Land Management. Can you provide us with some highlights from that news release? 

Gerald Panneton: With the recent election of the Republican being in power in the U.S. there is an Article 3335 that is very important for BLM to apply, which means every project that has a notice of intent, which means you completed all the baseline studies or for us it is the gap analysis from the last predecessor. We have 12 months basically to provide an environmental report with consultation and approved by BLM Nevada. In the MOA it is the understanding to help each other achieve this target and if necessary Prophecy will help pay for some consultant to review the process. 

Tracy Weslosky: Now that you are leading the company, leading Prophecy Development, can you tell us where you plan on focusing your energies next?

Gerald Panneton: Twofold, the first one is our gap analysis of all the baseline studies that were initiated some time ago by our predecessor. What we need to do is complete those by September of next year…to access the complete interview, click here

Disclaimer: Prophecy Development Corp. is an advertorial member of InvestorIntel Corp.




Prophecy Development’s Oosterman on becoming a major global supplier for vanadium

“We recently did a preliminary economic assessment on our Gibellini Project in Nevada, U.S.A and we had some key findings. Basically some of the numbers projecting over 13.5 year mine life. We anticipate an internal rate of return of 50.8%, a net present value of $338 million. This is using a base case price for vanadium of $12.73.” States Danniel Oosterman, Vice President of Exploration at Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.

Tracy Weslosky: You have had so much news recently, but I think one of the most significant pieces of news is your PEA results. Can you talk to us about that?

Danniel Oosterman: Absolutely. We recently did a preliminary economic assessment on our Gibellini Project in Nevada, U.S.A and we had some key findings. Basically some of the numbers projecting over 13.5 year mine life. We anticipate an internal rate of return of 50.8%, a net present value of $338 million. This is using a base case price for vanadium of $12.73. Today’s price of vanadium is $14.10. If you were to use today’s price for vanadium the internal rate of return actually goes up to 57% and the net present value goes up to $415 million. Keep in mind that our capex or capital expenditure to move the mine into production is only $117 million dollars. That is one-third of the NPV. There are not a lot of projects out there that can boast these sorts of numbers.

Tracy Weslosky: When I look at your market cap and I look at what you are supplying and all of the present geopolitical issues at the forefront, I would think that many smart investors that are interested in sustainability would be looking at Prophecy. 

Danniel Oosterman: Exactly. There are no primary vanadium producing mines in North America currently. We are the only project, not only in North America, but really in the world, that has a near-term production timeline. We are looking at production hopefully within 3 years. We already submitted our Plan of Operation to the Bureau of Land Management in the United States. This basically over time kicks off for us the permitting schedule for us. We anticipate to get 38 permits over the next 2 years. We are also submitting our Engineering Procurement and Construction Management, which is basically going to cost the entire project with a contract mining outfit over the next year.

Tracy Weslosky: I think you told me previously that 99% of all the vanadium is imported in the United States. When you are actually producing you will then be providing 3½% of the world’s supply. Did I read that correct?

Danniel Oosterman: That is correct. If you were to take out China as a player we would actually produce 15% of the world’s supply. That makes us a major supplier. We will be producing 9.7 million pounds of vanadium annually with this project…to access the complete interview, click here

Disclaimer: Prophecy Development Corp. is an advertorial member of InvestorIntel Corp.




Prophecy’s Oosterman on being the only U.S. player for vanadium supply

June 26, 2018 – “China controls about 56% of the vanadium in the world. The other two big players are Russia and South Africa. As a result, of course, it has been deemed as a strategic metal. The United States, for example, imports about 99% of its vanadium. It is a key metal in construction. It is a key metal in the aerospace industry. Really this is where our project is poised to basically be the only player in the United States for vanadium supply.” states Danniel Oosterman, Vice President of Exploration at Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.

Tracy Weslosky: Vanadium is one of those critical materials with regards to a lot of sustainability issues that are currently happening today that very few people understand. Would you mind giving us kind of an introduction to vanadium?

Danniel Oosterman: Vanadium, even though it is not widely known about, it is widely used and widely applied in a number of applications. The principle application is actually steel. 92% of vanadium used in the world is used in steel. A small percentage added to steel actually doubles the strength and lightens it by 30%. As such it is ideal for, not only, rebar in construction and steel for skyscraper and such, but actually it is very useful in the aerospace industry as well.

Tracy Weslosky: Of course, we cannot forget the electric vehicles and the battery storage sector. 

Danniel Oosterman: The battery space is a growing space, lots of excitement. You have a lot of big players, key players, like Robert Friedland, now are paying attention to it. That really puts us in a position where we with our project may be able to access every single one of these aspects, aerospace, chemical industry, steel industry, with our project in Nevada.

Tracy Weslosky: Respectfully, to Robert Friedland, which we all know in the resource sector, we have major players, mainstream players, like Elon Musk, that are drawing attention to the requirements for vanadium in their batteries. Give us a little bit of an overview of vanadium. We know that the Chinese control 90% of the rare earth and 80% of the graphite. What do the Chinese control of vanadium?

Danniel Oosterman: Well, Tracy, China controls about 56% of the vanadium in the world. The other two big players are Russia and South Africa. As a result, of course, it has been deemed as a strategic metal. The United States, for example, imports about 99% of its vanadium. It is a key metal in construction. It is a key metal in the aerospace industry. Really this is where our project is poised to basically be the only player in the United States for vanadium supply for the United States. That really just puts our project in an advanced position. If you look at the political landscape in the United States, with Donald Trump deregulating a lot of things, he recognizes a lot of strategic value of certain metals. Principle of that, and we have had discussions with the Federal government in the United States regarding this, our project in particular is a high priority project because vanadium is considered one of these critical metals in the strategic sense that Trump has raised concern. As such we will essentially anticipate that we would move to the front of the queue in terms of our project going ahead and eventually put it into production…to access the complete interview, click here

Disclaimer: Prophecy Development Corp. is an advertorial member of InvestorIntel Corp.




Prophecy Development’s John Lee on the Gibellini Vanadium Project in Nevada

March 28, 2018 – “They are very eager to advance this project forward. In fact the state of Nevada at the PDAC conference in Toronto just a week ago had the Gibellini project front and center on the first page of their brochure.” states John Lee, CEO and Chairman of Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF), in an interview with InvestorIntel’s Peter Clausi.

Peter Clausi: Last time we chatted I think was in December. 

John Lee: Around that timeframe; 3 or 4 months ago, yes. 

Peter Clausi: A lot has happened to the project since. First we should remind our viewers it is a vanadium project. You have three of them, but we are really talking about one of them. It is in the lovely mining friendly state of Nevada. It has some advanced permitting on it from prior owners.   

John Lee: That is correct Peter.

Peter Clausi: Tell us, what is the project called?

John Lee: The project’s name is Gibellini. It is located just about 20 miles south of Eureka in the southern Battle Mountain region in northeastern Nevada.

Peter Clausi: Right. You have Battle Mountain, Florida Canyon, Mill City is that way.

John Lee: It is close to everywhere, but not too close to nowhere. It is a 5-hour drive from Vegas, 3-hour drive from Reno and 5-hour drive from Salt Lake City. I just recently made a trip there. I traveled from all those three different locations getting to the property.

Peter Clausi: What is happening at the project now?

John Lee: Peter when we last talked the project really has 4 competitive differentiators. The project is ideally located. According to the Fraser Institute it is one of the best places to do mining investments in North America. That has not changed.

Peter Clausi: Nevada it is a great jurisdiction.

John Lee: Yes. The price of vanadium has gone up 40% since January. Any addition to that is thanks to Donald Trump’s tax policy. The corporate tax rate has dropped from 35% to 21%. The project has a feasibility study that was prepared by the previous operator and which we would expect to announce a revision. The numbers so far look very, very promising. You have a lower tax rate and higher metal prices that bode very well for the project going forward. Not to mention, I think the other thing is on the permitting, the previous operator also did extensive baseline studies. Nevada, even though it is mining friendly, but the permitting aspect is not for the faint hearted. We had a huge leg up in that baseline studies and plan of operation had been submitted and deemed accepted by the Bureau of Land and Management. I was just in Nevada. We sat down with these guys. They are very eager to advance this project forward. In fact the state of Nevada at the PDAC conference in Toronto just a week ago had the Gibellini project front and center on the first page of their brochure. We felt like the permitting side is also making some advances as well as the feasibility study, which we are looking to publish a revision very soon within the next 30 days.

Peter Clausi: You had some pretty good news come out today. It is the kind of news that some people will overlook and fail to understand why it is so important. Tell us about that.

John Lee: Even though there is doldrums in this metals market we generated a bit good volume. This morning we announced the news of our technical partnership with a company called NWME, Northwest Nonferrous Mining Company…to access the complete interview, click here

Disclaimer: Prophecy Development Corp. is an advertorial member of InvestorIntel Corp.