Global Demand For Vanadium Is Expected To Grow at an Increased Paced

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Apr 07, 2022, 08:30 ET

FinancialNewsMedia.com News Commentary

PALM BEACH, Florida, April 7, 2022 /PRNewswire/ -- In 2020, the vanadium market had to navigate the uncertainty that COVID-19 brought to every sector of the economy. Commenting on how prices performed during the first six months of 2021, Willis Thomas of CRU Group told the Investing News Network (INN) that prices came on quite strongly in Q2. "The pandemic recovery in the world ex-China drove new demand growth, while Chinese demand remained strong," he said. The steel sector continued to be the main driver of vanadium this year, and throughout the first half of 2021 demand from the rest of the world continued to catch up with China. Now, as 2022 kicks off, global demand for vanadium is expected to grow. He added: "There is limited demand downside, as either growth is expected to slow (steel, chemicals) or increase in pace (aerospace, batteries) as all main demand categories are poised for some growth," Thomas said. "For the aerospace/titanium segment, aircraft inventory is moving again and the supply chain is starting to pull in more vanadium," Thomas said, adding that CRU is looking for demand increases for 2022 over 2021 figures. "This sector is lagging from pandemic recovery by about one year to 18 months." Active companies in the markets today include: BASIN URANIUM CORP. (OTCPK: BURCF) (CSE: NCLR), Uranium Energy Corp (NYSE: UEC), NexGen Energy Ltd. (NYSE: NXE) (TSX: NXE), Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), Skyharbour Resources Ltd.'s (OTCQB: SYHBF) (TSXV: SYH).

Another segment that continues to grab attention from investors is the battery space, as vanadium is a key metal used in vanadium redox batteries. In 2022, CRU expects demand for batteries to be up significantly in China and moderately in the rest of the world. When asked about how he expects prices to perform in the new year, Thomas said low availability and threats to supply that support the price currently will be met with good demand in the first quarter of the year, a time when vanadium prices are historically elevated. He continued: "Demand will drive prices in the second half of the year," he said. "A swift battery demand increase will push prices back to where they were mid-2021 or higher — without these anticipated demand increases, prices for the highly by-product vanadium could easily fall."… but, Thomas added that a key factor investors should keep an eye out for is battery electrolyte capacity. "Significant battery-related vanadium is planned to be consumed in 2022," Thomas said. "The issue will be producing enough electrolyte to satisfy all of this demand."

BASIN URANIUM CORP. (CSE: NCLR.CN) (OTCPK: BURCF) BREAKING NEWS: BASIN URANIUM CONSOLIDATES LAND POSITION AT WRAY MESA – BASIN URANIUM CORP. ("Basin Uranium" or the "Company") is pleased to announce the Company has entered into An Option Agreement (the "Option") to acquire a 100%-interest in seven (7) claims ("Skeet Lammert Groups") totalling 63 acres which lie inside of the Company's Wray Mesa project (the "Property") in Utah. The Wray Mesa project now totals 308 unpatented lode claims totalling 6,282 acres of wholly-owned or optioned claims (option to earn 100%-interest). In addition, the Company is also acquiring the Tessy project located in Fry Canyon, approximately 100 kilometres southwest of the Wray Mesa project.

"The acquisition of these claims is important as they not only lie in the middle of our land position but also contain a significant amount of historical drilling, which allows us to consolidate ownership of the project where historical drilling had delineated compelling zones of mineralization." commented Mike Blady, CEO of Basin Uranium. "Within the Wray Mesa project, historical drilling includes notable intercepts of 1.1% eU3O¬8 over 45 feet and 2.5% eU3O¬8 over 2.6 feet which remained largely untested by modern exploration techniques.

The Wray Mesa Property is contiguous to and adjoins Energy Fuel's (EFR-T, UUUU-NYSE) fully-permitted and production-ready La Sal project which includes a number of past-producing uranium and vanadium mines (production of 550,000 lbs U3O8 in 2012). The La Sal project is host to Measured & Indicated resources of 4.1 Mlb of uranium (U3O8) plus 21.5 Mlb of vanadium (V2O5) plus Inferred resources of 0.4 Mlb of uranium plus 1.9 Mlb of vanadium (source: Technical Report on the La Sal District Project, prepared for Energy Fuels Inc. by D.C. Peters and dated March 25, 2014.).

Transaction Terms - Basin Uranium Corp. will have an option to acquire a 100% undivided interest in the Dylan and Ajax claims within the Wray Mesa project, in addition to the Tessy Claims located in Fry Canyon. Under the proposed terms of the LOI, Basin will pay US$30,000 in cash and issue US$20,000worth of shares of Basin upon execution of the agreement. Basin will have 24 months of unencumbered access to the claims to conduct exploration activities, subject to maintaining the claims in good standing, with the option to purchase the claims for US$250,000 in cash or shares, at the election of the vendor. The shares issued as consideration for the agreement will be subject to a four-month statutory hold period in Canada. CONTINUED… Read the BASIN URANIUM full press release by going to: https://basinuranium.ca/news/

In other news and developments of note in the markets this week:

Uranium Energy Corp (NYSE American: UEC) recently announced that it has filed a Technical Report Summary ("TRS") on EDGAR, disclosing mineral resources for the Company's Wyoming ISR Hub and Spoke Project (the "Project").

Amir Adnani, President and CEO stated: "We are very pleased with the conversion of U1A's historical resources into fully compliant S-K 1300 resources. The compliant values further validate the Company's U1A acquisition and provides important technical data that we will employ in implementing our Wyoming Hub and Spoke uranium extraction plans. The ~62M pounds of Measured and Indicated Resources and the ~7M pounds of Inferred Resources outlined in the TRS filing, represent the largest S-K 1300 resource summary completed and filed to date. These considerable permitted Wyomingresources coupled with our Texas permitted projects, positions UEC to lead the resurgence of U.S. uranium production. At a time of unprecedented geopolitical events and risks, fully permitted and low-cost ISR projects in the United States will be critical and should carry a premium moving forward."

NexGen Energy Ltd. (NYSE: NXE) (TSX: NXE) recently announced that it has been approved for uplisting on the New York Stock Exchange ("NYSE") from its current listing on the NYSE American LLC ("NYSE American"). The Company's common stock will begin trading under the symbol "NXE" at the opening of trading on March 4, 2022.

Leigh Curyer, Chief Executive Officer commented: "The uplisting on the NYSE is a major corporate milestone for NexGen in creating long-term value and an expansion of our global shareholder base. This listing is a demonstration of NexGen's corporate governance standards, size, liquidity and exceptional value proposition offered to global investors allocating capital to elite ESG entities at a time the demand for reliable and sustainable clean air energy fuel is undergoing a generational transition."

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) recently reported its financial results for the year ended December 31, 2021. The Company's annual report on Form 10-K has been filed with the U.S. Securities and Exchange Commission ("SEC") and may be viewed on the Electronic Document Gathering and Retrieval System ("EDGAR") at www.sec.gov/edgar.shtml, on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, and on the Company's website at www.energyfuels.com. Unless noted otherwise, all dollar amounts are in U.S. dollars.

"In 2021, we believe Energy Fuels further strengthened its position as America's leading multi-commodity, critical mineral company, as we made excellent progress on our uranium, REEs, vanadium and medical isotope initiatives. We are deploying our 'one-of-a-kind' licenses, facilities, and expertise to responsibly recover the critical elements needed for carbon-free nuclear energy, electric vehicle powertrains, wind generation, advanced electronics, grid-scale batteries, other clean energy and advanced technologies, and potentially cancer therapeutics.

Skyharbour Resources Ltd.'s (OTCQB: SYHBF )(TSXV: SYH ) partner company Medaro Mining ("Medaro") recently announced that it has completed an airborne geophysical survey at its Yurchison Uranium Property in Athabasca Basin, Northern Saskatchewan.

The combination of the exploration pathfinders: the intersection of N-S Tabbernor faults and SW-NE major fault, rock unit boundaries, EM conductors and uranium anomalies intersected by drill holes (well above background levels) makes claim MC00011054 an exciting exploration target on the Yurchison Property and Medaro Mining is looking forward to examining the results of our March 2022 helicopter-borne magnetic survey. The survey data is being processed and results will be released as soon as available.

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