OK, here's the scoop on World Vanadium, via the back door (g)...
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With global warming treaties and zero emission standards as a backdrop, there are few alternatives that can provide the energy the world needs to grow into the 21st century. The most exciting, in the eyes of World Vanadium Corp., is the development of the Vanadium Redox Battery. Imagine a battery that can be instantly recharged. Imagine a liquid electric fuel with no waste products generated. There is one problem: this new battery needs vanadium and unless new mines are brought on-line, world production cannot meet the requirements for this exciting new technological breakthrough in electrical storage.
World Vanadium Corp. has acquired mining properties located in the productive Colorado Plateau region of San Juan County in south-eastern Utah. The Colorado Plateau type deposits represent the largest nonutilized vanadium resource in America.
World Vanadium properties have significant proven and drill indicated reserves of high-grade vanadium and uranium. Potential gross revenues from expected production levels are estimated at nearly $64 Million in the first three years, and at today's low prices. Any price move can significantly impact these figures.
We, at World Vanadium, believe that being poised for a significant price move means being in production when the price is moving. Discussions with other experts lead us to this conclusion: CURRENT PRICES FOR URANIUM AND VANADIUM ALLOW US TO COMPETE SUCCESSFULLY, NOW!
While other producers are contemplating, we are moving with the market. The strategy of small, efficient, and low-cost mines will position us as a leader in US vanadium/uranium production. The lead time required for a project to begin production will limit the participation of many companies in the steep price rises that are anticipated by industry experts. World Vanadium is currently in production and can increase production rates immediately to respond to even short term price fluctuations.
World Vanadium's acquisition of mining operations, already in production and shipping ore, have established a cash flow and set World Vanadium apart from exploration companies: we are a production company. Present plans include investments in an expansion program designed to stabilize production from these operations at 200 tons per day until prices move upward.
Additional plans include: immediate permitting and rehabilitation of two currently inactive mines with substantial development and reserves, acquisition of additional mining claims with drill proven reserves, and acquisition and placement of necessary mining equipment. The expansion program also includes permitting and rehabilitation of 7 additional inactive mines, wholly owned by World Vanadium. Plans are to establish a 200 tons per day level of production at each mine, bringing total production up to 2,000 tons per day with ten mines operating. Additional production will be available as market conditions allow.
The management of World Vanadium has the expertise to guide the company to its rise as one of the leading uranium/vanadium producers in the world. The team of qualified individuals combines over 150 years of uranium/vanadium mining and business management experience. Our expertise is not just in the business, it is also in the area and type of deposits we now own. Our Operations Manager, Jim Butt, has been mining Colorado Plateau deposits for over 37 years. We have a certified MSHA trainer, as well as experienced lead-miners with over 15 years experience in the area. Our Acquisition manager has over 15 years experience in all aspects of land status and associated issues. Further, our Board of Directors includes some of the most reputable men in the mining industry. These include Al Dearth, former president of Atlas Minerals and Bruce Kemper, founder and CEO of Frontier Kemper.
Demand is expected to increase for both vanadium and uranium in the near future. Stockpiles of both commodities have been drastically reduced, and world consumption far exceeds current production levels. Production from by-product operations has declined and primary producers have cutback production from high-priced operations, adding to the existing shortfalls.
An additional 37 nuclear reactors are expected to come on-line, worldwide, this year. Global warming agreements will certainly shift energy generation in this direction, as well. Demand for nuclear fuel is climbing, while production is declining. The indications are clear: uranium prices are going to rise soon and dramatically!
Vanadium is indeed a 20th Century miracle material. Its multiplicity of uses as humanity strives to make things smaller, stronger, lighter and safer ensure its increased demand. The US currently imports up to 40% of its vanadium from Russia. With the mining industry problems in that country, one of the main supplies of vanadium to the US could be interrupted rapidly and permanently.
Development of the new vanadium redox battery and "load levelers" are expected to increase demand for this metal many times over. The next few years will see increases in price from new demand pressures and tightening supply. Even small moves in the vanadium price can mean substantial profits to World Vanadium.
Production costs of our operations are less than half those of our competitors. The size of the operations, less than 50,000 tons per year, also reduces the startup costs associated with regulatory issues by using the Small Mine Exclusion Rules. The high costs of Environmental Impact Statements and other time consuming and costly regulatory issues are waived and permits that are required are approved rapidly, and with little review time. World Vanadium's view is that many small mines can be operated for less and with more efficiency than one big operation. The overall effect is that more tonnage and better grade control can be achieved by smaller and more selective methods of operation.
World Vanadium is currently examining technologies that could further reduce the operational costs of producing our resources of uranium and vanadium. While these studies are in their infancy, indications are that the use of heap-leach technology can substantially increase our reserve base by including reserves that are currently considered unacceptable by our current milling contract with IUC White Mesa Mill.
Preliminary analysis of this technology indicates that production costs would be less than one half that of our current method, which translates to more profits and a streamlined operation.
Results from the investigations will be available as soon as column tests are completed. World Vanadium's goals are directed to increase shareholders value through our continuing efforts to make our mines the most profitable on the Colorado Plateau.
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