In this InvestorIntel interview during PDAC 2023, Chris Thompson talks to Western Uranium & Vanadium Corp.’s (CSE: WUC | OTCQX: WSTRF) CEO, President, and Director George Glasier about an update on their Sunday Mine Complex located in Colorado, USA. Currently producing and stockpiling uranium and vanadium ores at the Sunday Mine Complex, George provides an update on their new mineral processing facility to be built in Utah, USA to recover uranium, vanadium, and cobalt with initial production from the facility expected in 2026.

George goes on to discuss their patented Kinetic Separation Technology that reduces the mass put through the mill by up to 10 times. In addition to reducing the environmental footprint, George explains how Western Uranium & Vanadium’s Kinetic Separation Technology considerably reduces the cost of production.

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About Western Uranium & Vanadium Corp.

Western Uranium & Vanadium Corp. is a Colorado-based uranium and vanadium conventional mining company focused on low-cost near-term production of uranium and vanadium in the western United States, and development and application of kinetic separation.

To learn more about Western Uranium & Vanadium Corp., click here.

Disclaimer: Western Uranium & Vanadium Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

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“Early next year we will open the Sunday Mine, which was operated in 2009. The mine is ready to go. We will open it in early 2019, get it ready for production in the second half of 2019. The mine is virtually ready. We are going to go in and assess the high-grade vanadium that we know is in there and then lay out the mining plan to start mining in the second half.” States George Glasier, President, CEO and Director of Western Uranium & Vanadium Corp. (CSE: WUC | OTCQX: WSTRF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.

Tracy Weslosky: George it is a real pleasure to have this opportunity to speak to you, it is my understanding your planning on becoming North America’s number one source of vanadium. Is that correct?

George Glasier: The Sunday Mine Complex is one of the best, if not the best mine in North America for vanadium. It is a series of 5 mines with very, very high-grade vanadium.

Tracy Weslosky: You just put out some very big news. On November 28^th you put out a news report on how you are planning to provide a Sunday Mine Complex reopening update. Can you talk to us a little bit about this news release? 

George Glasier: That is right. Early next year we will open the Sunday Mine, which was operated in 2009. The mine is ready to go. We will open it in early 2019, get it ready for production in the second half of 2019. The mine is virtually ready. We are going to go in and assess the high-grade vanadium that we know is in there and then lay out the mining plan to start mining in the second half.

Tracy Weslosky: We are getting a lot of Twitter action, a lot of tweets about you. One of the potential investors out there sent me an email asking about how you are planning on sending your ore overseas for processing. Could you address that?

George Glasier: Vanadium ore can be shipped anywhere in the world. You have got to have an export license, which is not difficult to get. The U.S. exports all kinds of commodities including a lot of coal. The vanadium ore will be exported much like we export other commodities. Of course it will be in a container, but we are going to ship this overseas for processing. There is a big demand for the vanadium. Processing plants are already ready to go with no feedstock. That is our plan at least for the first couple of years moving into building a new vanadium plant in the U.S., which will take a few years, a couple of years.

Tracy Weslosky: Of course George with vanadium prices absolutely surging and such an incredible demand globally right now there is a lot of misinformation out there. One person was tweeting about how your ore may potentially be radioactive. Can you talk to us a little bit about that because that obviously is incorrect?

George Glasier: Our vanadium ore or the vanadium standalone in the Sunday Mine is no more radioactive than the coal we ship. The United States coal mines have a little radioactivity. Radioactivity is everywhere in very low quantities. That is a bit of what the vanadium has and it is very low radioactivity. There are no restrictions on shipping that kind of stuff. If not we would not be shipping coal around the world.

Tracy Weslosky: George thank you for addressing that particular misinformation. There is a lot of misinformation about the real demand for vanadium there. Is there a real shortage or not?…to access the complete interview, click here

Disclaimer: Western Uranium & Vanadium Corp. is an advertorial member of InvestorIntel Corp.

“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.

“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.