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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (51082)	11/14/2018 3:28:31 AM
From: Goose94	Read Replies (1) \| Respond to of 203439

Primary Energy Metals (PRIM-Cse) Nov 13, '18 has signed an arm's-length purchase agreement dated effective Nov. 6, 2018, with the shareholders of Prost Vanadium Ltd. Pursuant to the Purchase Agreement, the Company will acquire all of the outstanding share capital of Prost Vanadium. Prost Vanadium holds the rights to 176 vanadium and uranium lode claims in La Sal District of San Juan, Utah. Patrick Morris, CEO of Primary states: "We are very pleased to increase our land position in Utah with these additional past producing mines. With our neighbours, Energy Fuels, coming online as front runners in Vanadium - Uranium production in North America, we believe this strategic acquisition will not only be good for our shareholders but for the supply chain for these much needed battery metals globally." Prost Vanadium is a privately-held exploration-stage resource company, based in Vancouver, British Columbia. Due to its stage of development, Prost Vanadium does not yet generate revenue from operations, and is not expected to in the near term. The Company will issue 12,000,000 common shares to the existing shareholders of Prost Vanadium, in consideration for the acquistion, and will assume liabilities of approximately US$150,000 incurred by Prost Vanadium in connection with the maintenance of the lode claims. The common shares to be issued by the Company will be issued at a deemed price equivalent to the market price of the Company's common shares at the time of issuance. No finders' fees are payable in connection with the completion of the acquisition, and the acquistion is not expected to result in a change of control of the Company. Highlights Located in the Colorado Plateau Geological Region Claims are located just outside of Moab Utah and fully accessible.176 claims covering multiple historic shallow artesian production sites with high grade Vanadium outcrops Historically Vanadium and Uranium was processed at the nearby Denison Mill that is now owned and operated by Energy Fuels Inc. (TSX: EFR) Easy permitting with multiple mines in the area Numerous High-Grade Vanadium Outcrops as well as past producing mines (176 claims X 20.66 acers = 3,636 acres Total) Image: accesswire.com Image: accesswire.com Although vanadium and uranium occurrences are ubiquitous and are known to exist in over 20 distinctly different sedimentary units in the Uravan belt, the Pennsylvanian-Permian Rico Formation and the Upper Jurassic Entrada Sandstone are the only formations which have been mined previously for vanadium and uranium. Most of the past production has come from the Entrada Sandstone. Historically, there have been a number of uraniferous vanadium deposits developed in the Entrada Sandstone along a sinuous trend extending in a north-south direction for over 100 miles. This trend coincides with a major structural feature representing a transitional zone between the Colorado Plateau and the Southern Rocky Mountain physiographic provinces. Energy Fuels Inc.(NYSE American: UUUU; TSX: EFR) recently announced that they expect to resume vanadium production at their White Mesa Mill in mid-November 2018, producing significant quantities of salable V2O5 product by the end of December 2018. When production begins, Energy Fuels will be the newest vanadium producer in the World and the only primary producer of V2O5 in North America. Following the acquistion of Prost Vanadium, the Company intends to conduct a test-mining program that selectively targets high-grade V2O5 resources at the La Sal Complex, with the goal of significantly increasing productivity and mined grades and reducing mining costs per pound of V2O5 and U3O8 recovered. Energy Fuels' White Mesa Mill, located near Blanding, Utah, is currently the only facility in the United States capable of processing conventional mined vanadium resources. Vanadium prices have risen by over 150% in the past year due to a number of factors, including production cuts and significant increases in demand due to the implementation on November 1, 2018 of new rebar standards in China that can only be achieved through increased use of vanadium (with limited substitution). In addition, vanadium demand could increase significantly in the coming years due to the commercialization of vanadium batteries used in connection with renewable energy generation. As of September 23, 2018, the mid-point price of V2O5 as reported by Metal Bulletin was $22.63 per pound, as compared to $9.00 per pound on September 29, 2017. VANADIUM PRICE-PER-POUND HITSNEW ALL TIME HIGHImage: accesswire.com About Primary PRIMARY Energy Metals Inc. (CSE: PRIM FSE:1WZ:GR OTC: PEMTF) is a listed junior exploration and development company and is engaged in the business of acquiring, exploring and developing ethically sourced Cobalt, Copper, Nickel and Vanadium focussed mineral resource properties to create value for its shareholders. Current projects include Cobalt in Hazelton British Columbia, and 2 cobalt and 2 vanadium permits in Spain, and 199 vanadium and uranium claims in Utah. ON BEHALF OF THE BOARD OF DIRECTORS /s/ Patrick Morris CEO and President Telephone: +1 778-735-1000