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.
Disclaimer: Prophecy Development Corp. is an advertorial member of InvestorIntel Corp.
Demand exceeds supply by 20% in “explosive” vanadium market
Mark Smith, President, CEO, and Director of Largo Resources Ltd. (TSX: LGO | OTCQB: LGORF) in an interview with InvestorIntel’s CEO Tracy Weslosky to discuss the economics and applications of vanadium. The supply of vanadium is 20% lower than the demand for it – “We are virtually on the edge of something very explosive”, says Mark about the metal’s price in response to a rise in demand. Vanadium is a reinforcing super metal and steel is the largest market for it. But because of their top tier product, Largo can tap into the higher end applications (aeronautics for example) at a premium price. Mark can be seen as the keynote speaker at the Cleantech and Technology Metals Summit on May 15-16, in Toronto.
Tracy Weslosky: For everybody out there, the reason we’re talking to Mark today is because he’s the CEO of one of the only vanadium producers in the world. Today we’re going to talk to you about vanadium.
Mark Smith: Perfect. I love to talk about vanadium.
Tracy Weslosky: Well, Mark I actually love vanadium myself. If you could just start real quickly with an introduction to vanadium for those out there that are new to this super metal.
Mark Smith: Vanadium is a super metal. Bottom line is it makes steel stronger. Over 50% of the vanadium in the world is used in rebar. I always like to say that cause I think people need to be able to, kind of, touch and feel in their own minds what vanadium actually does. It’s primarily used in rebar and it is used to strengthen steel. It’s in a lot of the car bodies and chassis. It’s in tools because you have to have a very strong tool to do chipping or chiseling or something like that or a hammer. Those are the primary uses and it’s got all kinds of specialty applications as well. A lot of it depends on purity levels of your vanadium. That’s the story right now I think is purity levels.
Tracy Weslosky: I think the story would also be the increase in the price for vanadium. Yes?
Mark Smith: Yeah. It’s more than doubled in less than 12 months. If you take a look at the supply and demand fundamentals in the world right now it would appear as if supply is about 20% below the demand level. That’s making very conservative assumptions on the demand level. If there’s any little uptick in demand at all, that spread just becomes worse and worse. You couple that supply and demand information with inventory information, which we’ve been plotting for 10 to 15 years now, and the inventory information suggests that we’ve been digging into inventory to meet the difference between supply and demand for over 6 years now, it’s our opinion that there’s very little inventory in the world…to access the full interview, click here
Disclaimer: Largo Resources Ltd. is an advertorial member of InvestorIntel
Largo Resources’ Mark Smith on producing the highest quality vanadium in the world today
September 8, 2016 — In a special InvestorIntel interview, Sr. Editor Fred Cowans speaks with Mark Smith, President and CEO of Largo Resources Ltd. (TSX: LGO | OTCQB: LGORF), a growing strategic mineral company presently focused on the production of vanadium at their Maracás Menchen Mine. Mark explains that vanadium is mainly used to manufacture rebar that provides resistance to seismic events in addition to hundreds of other uses. They talk about Largo’s Maracás Menchen Mine in Brazil, which Mark believes has the highest ore grade and the lowest unit cost of production in the world – explaining further that the material produced at Largo’s Brazilian mine is the highest quality vanadium being produced in the world today.
Fred Cowans: You’ve got a great story in vanadium. Just for the benefit of those of us that don’t deal with vanadium on a regular basis could you explain its uses please?
Mark Smith: Vanadium is actually quite widely used in the economy and has just literally hundreds and hundreds of uses. I think to just kind of quantify it easily so that people can feel like they understand this market better, just think of vanadium as something that strengthens steel. Over half of the vanadium that’s produced in the world today is actually used in the form of rebar, which provides seismic protection and, you know, strengthen and safety for us as human beings. That’s obviously one of its largest uses. The second largest use would probably be in steel tools. Again, it’s all about making that steel tool hard and stiff and strong so that when you and I are chiselling something or grinding something we’ve got a very hard material to work with, which makes our job a lot easier.
Fred Cowans: We’ve been accustomed at InvestorIntel of hearing stories about strategic metals and industrial metals being controlled in one market and being consumed in another market. What are the supply and demand geographic logistics for vanadium?
Mark Smith: Vanadium is a little different than some metals in that there’s basically four countries that produce the material so it’s a little better than some, a little worse than others. The four countries that produce vanadium today would be China. China produces about 50% to 55% of the world’s production. The second country in terms of large production used to be South Africa, but through some bankruptcies as a result of the resource industry and tough times for vanadium pricing last year we’ve now probably made Russia the number two producer in the world. And it’s probably 17% to 20% or so. South Africa and Brazil are roughly tied in terms of capability to produce and we’re probably somewhere in the 10% to 12% each in those categories. So the problem with that Fred is of course the numbers don’t add up to 100%. That’s largely because China is actually higher than 55% right now as a result of the South African material coming off the market. China may be upwards of close to 65% at this point in time.
Fred Cowans: Now your deposit and you’re in production. You’ve been in production, commercially since the last quarter of— calendar quarter of last year. You’re unique though. You’ve got the largest resource and the highest quality.
Mark Smith: This is an unbelievable resource. One of the things that I like to do is, both as an investor and an executive, is to start out with having a world-class resource before I engage in any of anything with any company and Largo clearly meets that standard. I mean this resource at our Maracás Menchen Mine in Brazil is massive, 45-kilometer long strike length 150 meters wide. We only drilled down to about 350 meters. We’ve got a very continuous homogenous ore body in this area….to access the complete interview, click here