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Thread: Vanadium

  1. #1
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    Default Vanadium

    I've been accumulating small amounts of AVL and TNG shares recently, global vanadium demand is strong and vandaium reflow batteries could add to that if they become a preffered option for grid storage tied to "green" generation sources. Any one else been following vanadium recently?

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    Antiquated & irrational t.rexjr's Avatar
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    Was looking into KRC for a bit. Massive reserves and 99.5% purity acheived. Then the Scoping Study came back with a 2 - 2.5 billion up front capital cost to complete the project. I haven't dug any deeper as it just doesn't seem overly viable on the surface. Years away from production, if ever. That Capex seemed absurd, though certainly no authority on the topic.

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    Ignorant. Just ignorant.
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    Came across this about a year or so ago.


    https://spectrum.ieee.org/green-tech...oxflow-battery

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    Quote Originally Posted by t.rexjr View Post
    Was looking into KRC for a bit. Massive reserves and 99.5% purity acheived. Then the Scoping Study came back with a 2 - 2.5 billion up front capital cost to complete the project. I haven't dug any deeper as it just doesn't seem overly viable on the surface. Years away from production, if ever. That Capex seemed absurd, though certainly no authority on the topic.
    Yeah the KRC capex is absurd. They've got a long way to go.

    TNG have been battling the tape in NT for a long time, but with V being tied to green re-flow battery technology they're close to being able to make a start. Agreement was made with the native title owners, application is with the NT gov, which is under a bit of pressure to stimulate the region. They have their own proven refining tech and German engineering firm SMS signed up to build it. At 0.11, recent SPP at 0.109, I didn't partake as things have been known to take awhile here, lots of funding still needed, and there are some shareholder rumblings, motion to remove a Non-Executive Director and get some more independent oversight. I'm watching closely though as their approval could come this quarter.

    Decided to "diversify" into AVL, they are in a much friendlier postion in WA, neighbour is proving up similar grades of V, current mineralisation looks good, Preliminary Feasibility Study this quarter. 0.039, which is about the support price for the last year.

    All things ticketeboo production isn't until 2020-2021 at best with either of those. But the V price is getting a re-rate with higher steel standards in China and mass production of VRFBs. A lot of science around the possible uses of V as well, interesting metal to look into.

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    FEAR n GREED JBmurc's Avatar
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    Been interested in Vanadium since I first invested in IRC.asx back during 2016 .. with 2.6billion ton V resource soft dig near surface waiting on infill drilling from JV partner and scoping studies on downstream proccessing with such high V205 prices I personal think IRC will sell their ownership to a chinese buyer etc .... and continue to focus on their prime WA Goldfield Projects..

    ON IRC V project- https://www.intermin.com.au/projects...mo-jv-project/

    TMT.asx my pure V play ... think it will be the next V producer in Aussie... High grades -DFS to be complete during JUNE Qtr19 while others still working on PFS and years away from DFS .. should well command Billion+ market cap in the years ahead

    Looked over the other and just ended up buying more TMT
    Last edited by JBmurc; 19-11-2018 at 07:30 PM.
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    Legend shasta's Avatar
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    Not a pure play for Vanadium but an advanced project being spun out early 2019

    https://stocknessmonster.com/announc....asx-6A909859/

    NMT gives you exposure to Lithium, Titanium and Vanadium
    Disc holding - ENR, GAL, LYC, PRX, SES

  7. #7
    FEAR n GREED JBmurc's Avatar
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    Default Ann. out from IRC

    Pre-concentration and downstream processing test work continues with further results expected in the March and June
    quarters 2019. On receipt of assay data, updated geological models will be compiled and an updated resource for
    Lilyvale released.
    Both the test work results and the new resource models will enable commencement of a PFS and estimation of Ore
    Reserves. The PFS may include production rate analysis, flow sheet design, initial estimates of capital and operating
    costs and product sales analysis.
    The JV has purchased a 75 acre parcel of land at Richmond to facilitate the potential requirement for a pilot plant should
    a decision be made to move forward. The land is located in close proximity to the Flinders Highway, railway siding and
    the 66Kv power line providing infrastructure and services for the study.
    People don't have ideas, ideas have people

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    FEAR n GREED JBmurc's Avatar
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    26 November 2018

    Dear All

    Please find below the link to our latest announcement from the Richmond vanadium project.

    Ore pre-concentration testwork has been continuing at 2 research labs in China with the latest optimisation results delivering excellent results.

    The aim of the pre-concentration test work is to upgrade the run of mine ore to >1.5% using simple physical separation to minimise the amount of concentrate for downstream processing. The latest results delivered 73% of the vanadium into 21% of the original mass at a grade of 1.6% V2O5. By way of example, 1Mtpa mining rate would produce 210,000t of concentrate enabling a smaller and significantly cheaper downstream processing plant.

    The test work also produced concentrate with very low calcium content (by removing a lot of the coarser shell material). This is also very significant as it enables the acid digestion downstream processing pathway to be considered as well as the roasting pathway. Further optimisation work is underway with another 2t of samples sent to China to provide sufficient material. Initial downstream work has also commenced with results expected mid-2019.

    Drilling at the vanadium project has also commenced with 17,500m planned within a A$1.2m budget. Regional drilling will comprise 350 holes for 7,500m testing for higher grade areas within the project area at Rothbury, Manfred and Burwood.

    Infill drilling at Lilyvale will comprise 450 holes for 10,000m to bring the current resource of 671Mt at 0.35% V2O5 in to the Measured and Indicated JORC Categories as part of the PFS planned for 2019. This will enable Lilyvale ore, the shallowest and highest grade, to be converted to Reserves for the PFS and potential offtake partner discussions.

    Lilyvale has the potential to produce 98% flake and vanadium electrolyte at a globally relevant scale with highly competitive capital and operating costs when compared with hard rock magnetite ore developers.

    The aim is to have a PFS in 2019 and move forward with a pilot plant in 2020 as part of a DFS. A 75 acre parcel of land has been purchased in Richmond with 66kv powerline on the northern boundary and the Flinders Highway and railway on the southern boundary.

    To view the announcement, visit our website at www.intermin.com.au or click on the link below:
    People don't have ideas, ideas have people

  9. #9
    Senior Member upside_umop's Avatar
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    Gidday JB,

    I originally bought IRC for it's vanadium resource many years ago (8 years ago?) but sold as I wasn't patient enough and after they disposed 75% of the project for a few million in free carry.

    I have bought into some AVL recently but sitting on a loss - it was spec buy so not too worried and may buy more if they continue to progress. AVL put out a PFS for their project with:
    - NPV of $1.1b at $13lb
    - Capex of $360m
    Unfortunately, the capex of $360m was too much to swallow for the market with AVL's market cap of c. $100m at the time and didn't react too well. Still, it was a lot better than KRC coming out with a capex estimate of $2.0b to $2.5b!!

    AVL's NPV increased to $2.4b with a Vanadium price of $20lb....imagine what it would be with a current >$30 a pound.
    By the way - it's upside_down, not upside_umop

  10. #10
    FEAR n GREED JBmurc's Avatar
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    Default Vanadium >

    Quote Originally Posted by upside_umop View Post
    Gidday JB,

    I originally bought IRC for it's vanadium resource many years ago (8 years ago?) but sold as I wasn't patient enough and after they disposed 75% of the project for a few million in free carry.

    I have bought into some AVL recently but sitting on a loss - it was spec buy so not too worried and may buy more if they continue to progress. AVL put out a PFS for their project with:
    - NPV of $1.1b at $13lb
    - Capex of $360m
    Unfortunately, the capex of $360m was too much to swallow for the market with AVL's market cap of c. $100m at the time and didn't react too well. Still, it was a lot better than KRC coming out with a capex estimate of $2.0b to $2.5b!!

    AVL's NPV increased to $2.4b with a Vanadium price of $20lb....imagine what it would be with a current >$30 a pound.
    Yes I hold AVL neigbour TMT which has higher grades lower admin and much larger development budget I see for this Qtr and much less shares on register .. both have good looking projects but need energy source sorted --I see this as being the biggest hurdle for these two
    TMT PFS>

    PROJECT SERVICES AND INFRASTRUCTURE
    Operation of the Gabanintha Vanadium Plant will require various services and infrastructure. These
    services include infrastructure, roads, an accommodation village, workshops, laboratory, gatehouse,
    fuel supplies, and stores.
    Site access roads from the adjacent Meekatharra Sandstone road are approximately 3.3km from the
    adjoining access and the major haul roads 3.4km.
    The project requires a fuel supply solution to provide:
    • Electricity for the Process plant, mining and camp facilities (Power Station Load) (950 Terajoule
    (TJ); and
    • Heating for the Kiln, Furnace and Flash Heater (Heat Load) (1963 TJ).
    • The respective supply options are:
    • Power Load Demand – Gas and/or Diesel; and
    • Heat Load Demand – Gas or Heavy Fuel Oil.
    Gas supply alternatives includes trucked Liquid Natural Gas (LNG,) trucked Compressed Natural Gas
    (CNG) and pipeline delivered natural gas.


    Now in IRC case they have got power/transport to ports and township nearby .. so in that development case they are looking very good
    Now the grade is lower .35% (but I do think the infill drilling underway should well lift this as the 400m wide spacing drilling showed .51%-.67% Vanadium across the area)

    the highest grade based on the drilling to date with the mineralisation 4-5m from surface (just strip the top and start mining the Vanadium/moly/ni/cu rich ores

    Can be mined simply by free dig open cut mining at very low strip ratios (No drill and blast like all the WA Vanadium plays)

    Is amenable to low-cost removal of the coarse fraction via scrubbing, trammeling, screening, cycling and potentially flotation to produce a high grade intermediate feedstock ~ with downtream refining

    So I think the AXF/IRC plan is much less capital intensive so PFS should give us a low CAPEX esp. if AXF chinese connections bring on board a downstream refining of the 210,000t pa 1.6% V +Mo+Cu+Ni .. and become the investor funder of the downstream project(aka from port> refining > sales of V)

    Now I did some rough numbers on the est. 1mpta mining into 210,000t 1.6% V feedstock ~ 90% recoveries give 3,000t of Vanadium pa ... thats gives Gross sales of $300mill AUD pa +Moly / Nickel / Copper credits ... now how much AXF/IRC take from this will be of much interest to the market and me. not going take much to pay off the likely CAPEX ... even 10mill pa free cashflow net to IRC would be great

    Now IRC will only hold 25% of the Vanadium project come later 2020 after JV partner AXF pump another 5mill to take us to PFS -offtake agreeement etc..

    which for many takes IRC off the list of seroius Vanadium play .. but for me that could actually work in our favour why-

    -LOW direct CAPEX Funding lets say its a $50mill funding to mining + strip and pay for first process curcuit +Enviro-bonds etc transport to trainline connection then other party pays for downstream feedstock operation > IRC will only have to fund 12.5mill which going from forward Gold development operations could be paid from cash balance.

    -As IRC is a self funding Gold explorer developer with the goal to build a sizable Gold reserves in the heart of the WA Gold fields to then mine or onsell to the local majors(looking good to date).. so risk wise the Vanadium project is non-core.
    To the share price on the downside if the V price crashed back to sub $6 (IRC first signed up the JV with AXF) I just don't IRC SP suffering its not like we are pumping 6mill into the project !
    Last edited by JBmurc; 27-11-2018 at 11:06 AM.
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