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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (54858)2/17/2019 6:19:46 AM
From: Goose94Read Replies (1) of 202374
 
Prophecy Development (PCY-T) has hired a consulting company to update the resource estimate for its Gibellini vanadium deposit in Nevada, ahead of a feasibility study expected to be ready by the end of the year. Mr. Panneton, president and CEO, calls Gibellini "the most advanced primary vanadium deposit in the United States," but that is a low hurdle to leap.

Indeed, Bill Radvak's American Vanadium Corp. unceremoniously abandoned the project in 2016 because of its low grades, although that was just as vanadium oxide prices were bouncing off their promotion-crushing lows. Prices are much higher these days, so Mr. Panneton's promotion survives Gibellini's average grade of 0.286 per cent vanadium oxide across just under 20.8 million tonnes measured and indicated. (Another 13.5 million tonnes are inferred at 0.175 per cent.)

Mr. Panneton is planning another round of drilling at Gibellini, with the work set to start in March. Prophecy wants to complete infill drilling on high-grade areas of the deposit. (High-grade is a relative concept at Gibellini.) The company also wants to convert a 6.83-million-tonne inferred resource at nearby Louie Hill to a higher classification. That rock averages 0.276 per cent vanadium oxide.
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