This small cap could cash in on the strengthening vanadium price much sooner than first expected

Date: Mar 6, 2019

Chinese buyers are willing to pay more for ferro-vanadium as Pursuit mulls its options for selling its high-grade vanadium magnetite concentrate from its fast progressing projects in Sweden and Finland.

A buoyant domestic market has reversed the downward trend of the Chinese vanadium price, which has gained over 5 per cent since mid-January.

Meanwhile, the price in Europe has remained relatively steady since early January.

Ferro-vanadium is used to strengthen steel.

Both vanadium magnetite concentrate and vanadium pentoxide flake can be used to make ferro-vanadium, but vanadium pentoxide flake is also used in batteries for energy storage and requires a more complicated and expensive process to refine it ready for use in batteries.

Pursuit Minerals has two key vanadium projects in Scandinavia; Airijoki in Sweden and Koitelainen in Finland.

It has already proven it can produce high-grade vanadium magnetite concentrate from both its projects, with the Koitelainen concentrates being amongst the highest grade globally.

“What we are looking at doing is developing our projects in a way that shortens the timeline to production by just producing a high-grade vanadium magnetite concentrate,” managing director Jeremy Read told Stockhead.

“That should enable us to take a couple of years out of the project development pipeline, in comparison to companies looking to produce vanadium pentoxide flake, so we can start to look at shorter term pricing.”

To read full article please click here