Vanadium Miners News For The Month Of November 2021

Summary

  • Europe vanadium pentoxide spot prices were slightly higher the past 30 days. China and Europe Ferrovanadium prices were flat.
  • Vanadium market news - 226MWh of vanadium flow batteries on the way for California Community Energy Group. Up to 140TWh of long-duration energy storage could be needed worldwide by 2040.
  • Vanadium company news - AMG Vanadium’s second spent catalyst recycling facility is proceeding as planned. Largo Inc. announces $2.0b after-tax NPV7% for Largo’s Menchen Mine Vanadium-Titanium Operations.
  • Western Uranium & Vanadium intersects very high-grade uranium and vanadium ore. King River Resources Laboratory scale Pilot Plant up and running.
  • I do much more than just articles at Trend Investing: Members get access to model portfolios, regular updates, a chat room, and more. Learn More »

Vanadium V, chemical element. 3D rendering isolated on black background

AlexLMX/iStock via Getty Images

Welcome to Vanadium miners news. November saw several vanadium producers reporting significant profit increases and further good progress from the juniors.

Vanadium uses

Vanadium is traditionally used to harden steel. New Chinese rebar standards are requiring more vanadium. Also, Vanadium Flow Batteries [VRFBs] are becoming increasingly popular especially for commercial energy storage, most notably in China. Vanadium Pentoxide [V2O5] is used in VRFBs and Ferrovanadium [FeV] is used in the steel industry.

Vanadium spot price history

Europe Vanadium Pentoxide [V2O5] Flake 98% 1 year chart - Price = USD 8.10/lb (China price not given)

China and Europe Ferrovanadium [FeV] 80% prices - China = USD 38.00, Europe = USD 32.45

Source: Vanadiumprice.com

Vanadium demand versus supply

The charts below show energy storage to be a new source of vanadium demand, and overall demand looks likely to grow very strongly to 2025.

Vanadium total demand forecast to outstrip supply 2020-2025

Source: Technology Metals Australia investor presentation & TTP Squared

An April 2021 Wood Mackenzie report stated:

Global energy storage deployment surged a remarkable 62% in 2020, with 5 GW/9 GWh of new capacity added. This brought the total energy storage market to more than 27 GWh. Furthermore, we expect the global (energy storage) market to grow 27-fold by 2030.

Source: Woodmac.com

An early 2021 Roskill post stated:

The vanadium market is set to tighten over the year and more so in 2022, driven by higher demand but also by tighter supply, as Chinese steel slag producers are running close to capacity. Outside of China, incremental supply will also be limited and come mainly from AMG's new facility in Ohio, USA, and Bushveld's Vametco gradually increasing its production in South Africa. Roskill believes that vanadium prices reached a low in Q4 2020 and should gradually rebound in 2021.....Vanadium redox batteries (VRBs) could become a major market for vanadium amid growing demand for energy storage, should the technology develop....On the supply side, Roskill does not expect significant tonnages from new projects to enter the market before 2024.

In 2017 Robert Friedland stated:

We think there's a revolution coming in vanadium redox flow batteries....

Vanadium market news

On November 19 ShareCafe reported:

Can vanadium emulate lithium's rise?.... As for lithium, the emergence of new energy storage demand is a game changer for high-purity vanadium, with the accelerating pace of Vanadium Redox Flow Batteries deployment for grid-power storage backup......While VRFB is at present more expensive up-front than Lithium-ion batteries, they can work our cheaper on full-cycle use over 20-years and 35,000 charge/discharge cycles. The VRFB does not degrade over time, can discharge 100% of its stored power and its vanadium electrolyte is fully recyclable that could realise ~1/3rd the value of a new VRFB. VRFB's can operate at high temperatures and cannot catch fire. They are suited to supporting utility-scale grids, mini-grids and teamed with renewables are ideal for remote power needs......However, like lithium, the emergence of new energy storage demand is a game changer for high-purity vanadium, in this case to supply VRFB's.

On November 26 Vanadiumprice.com reported:

226MWh of vanadium flow batteries on the way for California Community Energy Group CCCE. Four new grid-scale battery energy storage projects have been announced......In what could be the biggest utility procurement of the technology so far in the world, vanadium redox flow battery (VRFB) systems with eight-hour storage duration will be built ranging in size from 6MW / 18MWh to 16MW / 128MWh, together with a four-hour lithium-ion battery system. CCCE gave an estimated date of 2026 for all of the approved projects to be operational. The biggest VRFB project in California to date is thought to be the 2MW / 8MWh system inaugurated in 2017....report, published this week by the newly-formed Long-Duration Energy Storage Council (LDES Council), stated that up to 140TWh of long-duration energy storage could be needed worldwide by 2040 to limit the worst impacts of climate change.

Vanadium miner news

Vanadium producers

Glencore [LSX:GLEN] [HK:805] (OTC:OTCPK:GLCNF)

Glencore is a large vanadium producer, but vanadium production represents only a small portion of their revenue.

On October 28, Glencore announced:

Third quarter 2021 production report. Glencore Chief Executive Officer, Gary Nagle: "The asset base has largely performed in line with our expectations and our full year production guidance remains unchanged. Notably, as energy markets have improved, we are recovering from the market-driven production cuts initiated within our Australian coal portfolio in H2 2020. "Basis Marketing's continued strong performance, we now expect full year 2021 Adjusted EBIT to exceed the top end of our $2.2-3.2 billion per annum long-term guidance range."

AMG Advanced Metallurgical Group NV [NA:AMG] [GR:ADG] (OTCPK:AMVMF)

AMG Vanadium is a leading provider of products and services for the metals, manufacturing, refinery and petrochemical industries. AMG Vanadium produces ferrovanadium and related ferroalloys from spent refinery catalysts using a proprietary pyrometallurgical process.

On October 27, AMG Advanced Metallurgical Group announced: "AMG Advanced Metallurgical Group N.V. reports third quarter 2021 results." Highlights include:

  • "The construction of AMG Vanadium's second spent catalyst recycling facility in Zanesville, Ohio, a $325 million investment and AMG's largest capital project to date, is proceeding as planned. Commissioning starts in the first quarter of 2022 and the plant is forecast to achieve full run rate capacity in the fourth quarter of 2022.
  • Spodumene 1+ will increase Brazil's spodumene production by 40,000 tons. The project is currently in detailed engineering and commissioning is planned to start in the second quarter of 2023.
  • AMG's Supervisory Board approved the construction of the first module of a battery grade lithium hydroxide upgrader in Bitterfeld, Germany in its meeting on October 27, 2021. The total expenditure of $120 million includes the infrastructure necessary to support the next four modules. Commissioning of the facility will commence in the third quarter of 2023.
  • Shell & AMG Recycling B.V. [SARBV] and its local partner, the United Company for Industry [UCI], signed a memorandum of understanding with Saudi Arabian Oil Company (Saudi Aramco) to jointly explore the feasibility of building a recycling "Supercenter" in the Kingdom of Saudi Arabia.
  • AMG is building its first lithium vanadium battery ("LIVA") for industrial power management applications. In order to manage its entrance into this market, AMG acquired Phyr7 GmbH, Heidelberg, a specialist for artificial intelligence-based power management solutions. The first LIVA system will be installed in one of AMG's German manufacturing plants and is scheduled to be commissioned in the first quarter of 2022."

Financial Highlights

  • "Revenue increased by 58% to $311.9 million in the third quarter 2021 from $197.7 million in the third quarter 2020.
  • EBITDA was $33.1 million in the third quarter of 2021, more than double the third quarter 2020 EBITDA of $14.1 million, marking the fifth straight quarter of sequential improvement.
  • Cash from operating activities was $17.6 million in the third quarter of 2021, and $60.6 million on a year-to-date basis, more than triple the total cash from operating activities for full year 2020.
  • AMG's liquidity as of September 30, 2021, was $489 million, with $319 million of unrestricted cash and $170 million of revolving credit availability."

You can view the latest investor presentation here.

Bushveld Minerals Limited [LN- AIM:BMN] (OTC:BSHVF)

Bushveld is a diversified AIM-listed resources company with a portfolio of vanadium, tin and coal assets in Southern Africa and Madagascar.

On November 8, Bushveld Minerals Limited announced: "

Repayment of Duferco convertible loan note and issue of shares....is pleased to announce the final repayment of the amount due under the loan notes to Duferco Participations Holding S.A. ("Duferco")....The Company has now paid US$2.5 million of the amount due, as well as the accrued interest of US$0.512 million, in cash and satisfied the balance of US$9 million with the issue of 66,892,037 new ordinary shares of Bushveld, using a conversion price of 9.97p, which is a 5 per cent discount to the prevailing 10-day volume weighted average Bushveld Minerals share price leading up to conversion. There is no lock in or orderly marketing period for the shares issued.

You can view the latest investor presentation here.

Largo Inc. [TSX:LGO] [GR:LR81] (LGORF)(NASDAQ:LGO)

Largo Resources is a pure-play vanadium pentoxide producer from their Maracás Menchen mine in Brazil.

On November 3, Largo Resources announced: "Enhanced access to vanadium and profitability indicated by pre-feasibility study strengthens foundation for strategic commitment to energy storage business." Highlights include:

  • "Technical Report Outlines a Significant Expansion of V2O5 Production and Reserves Supported by New Cash Flow Generation from TiO2 Pigment Co-Product Sales and a 20 Year Mine Life for the Maracás Menchen Mine. $2.0 Billion After-Tax NPV7% for Largo's Vanadium-Titanium Operations (including an increase of 12 years in mine life over the Company's 2017 filed technical report).
  • Value Generated By the Maracás Menchen Mine is Expected to Be Additive to the Potential Value Generated by the Company's Energy Storage Business Initiatives in the Long Term."

On November 8, Largo Resources announced:

Largo Resources announces Name Change to Largo Inc.; Reflects strategic focus of becoming a leading vanadium focused energy storage company.....As part of this initiative, Largo has effective as of today, amended its articles in accordance with the Business Corporations Act (Ontario) to change its name from Largo Resources Ltd. to Largo Inc., updated its corporate logos and refreshed its corporate website to integrate its Largo Clean Energy business and become more than just a mining company. Largo remains focused on delivering high-quality, sustainable and innovative vanadium focused energy storage products alongside its existing high quality vanadium products.

On November 10, Largo Resources announced: "Largo reports third quarter 2021 financial results with net income of $9.2 million; Advances to implement Largo's complementary value propositions." Highlights include:

  • "Net income of $9.2 million, a 261% increase over Q3 2020; Basic earnings per share of $0.14.
  • Revenues of $53.9 million, 96% higher than Q3 2020; Revenues per lb sold1 of $9.10, a 69% increase over Q3 2020.
  • Cash balance of $87.6 million exiting Q3 2021.
  • Battery Development Funding: Largo Clean Energy ("LCE") selected to receive $4.2 million in funding from the U.S. Department of Energy ("DOE") to scale up U.S.-based manufacturing of flow battery and long duration storage systems.
  • First Battery Sales Contract: On July 20, 2021, LCE entered into its first VCHARGE vanadium redox flow battery ("VRFB") sales contract with Enel Green Power España ("Enel"); LCE will deliver a 5-hour, 6.1 MWh VCHARGE system for a project in Spain and received a Notice to Proceed on July 30, 2021......
  • Total V2O5 equivalent sales of 2,685 tonnes, a 16% increase over Q3 2020.
  • Production of 3,260 tonnes (7.2 million lbs2) of V2O5, a 5% increase over Q3 2020.
  • Cash operating costs excluding royalties1 of $3.53 per lb of V2O5 vs. $3.14 per lb in Q3 2020.
  • Solid Vanadium Demand: Average Fastmarkets European V2O5 price of approximately $9.40 per lb in Q3 2021, a 76% increase over the average in Q3 2020...
  • Pre-Feasibility Study Results Released: On November 3rd, 2021, the Company announced its technical report results outlining a significant expansion of V2O5 production and reserves supported by new cash flow generation from titanium dioxide ("TiO2") pigment co-product sales. The result is a 20-year mine life and a $2.0 Billion after-tax NPV7% for the Maracás Menchen Mine.
  • 2021 Production and Sales Guidance: Production guidance of 11,400 to 11,800 tonnes of V2O5 equivalent; Sales guidance of 11,200 to 11,800 tonnes of V2O5."

You can view the latest investor presentation here.

Energy Fuels Inc. [TSX:EFR] (UUUU)

Energy Fuels state they are "the No. 1 uranium producer in the U.S. with a market-leading portfolio", as well as being a recent vanadium producer.

On November 1, Energy Fuels Inc. announced:

Energy Fuels announces Q3-2021 results, including robust balance sheet, market-leading U.S. uranium position & commercial rare earth production....

Ferro-Alloy Resources [LON:FAR]

FAR is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya Oblast of southern Kazakhstan. FAR state: "The ore at this site has a significantly higher grade than all other primary vanadium extraction sites, which allows for much lower processing costs."

On November 10, Ferro Alloy Resources announced:

First sale of ferro-molybdenum and completion of testing offerro-vanadium. The Company is now recoveringaround 4.5 tonnes per month of ferro-molybdenum as a by-product from its recovery of vanadium from bought-in concentratesand this is expected to grow as throughput of the plant increases.

Western Uranium & Vanadium Corp. (OTCQX:WSTRF)

Western Uranium & Vanadium Corp. own the Sunday Mine Complex which is an advanced stage mine property consisting of five interconnected underground mines in Colorado, USA.

On November 16, Western Uranium & Vanadium Corp. announced:

Western Uranium & Vanadium provides Sunday Mine Complex update. In confirmation of the horizontal drilling results announced last month, very high-grade ore continues to be intersected through the drift path and on both sides of the drift. As a result, the team shifted from development to mining. In a matter of only three working days, over 300 tons of very high-grade uranium/vanadium ore was mined from the drift. Based upon on-site scintillometer readings, we estimate 1.5%+ uranium U3O8 content. At present market prices, this mined ore has a uranium/vanadium ore value of approximately one million dollars (USD$1,000,000).

Investors can read the latest company presentation here.

Vanadium developers

Neometals [ASX:NMT] (OTCPK:RDRUY) (OTCPK:RRSSF)

Neometals 100% own the Barrambie Titanium Vanadium Iron Project in Western Australia. Barrambie's Eastern Band is one of the highest grade hard rock titanium deposits globally.

On October 28, Neometals announced: "Quarterly activities report for the quarter ended 30 September 2021." Highlights include:

Corporate

  • "....Cash balance A$83.5 million, receivables and investments of A$38.7 million and no debt.
  • Preparations ongoing for Neometals dual listing on AIM market of the London Stock Exchange."

Core Development Activities

Vanadium Recovery Project ("VRP") (earning into 50:50 JV with Critical Metals Ltd)

  • "VRP process successfully demonstrated at scale in 24-day continuous pilot trials.
  • Exceptional product purities and strong vanadium recoveries support board decision to commence feasibility study activities for the first vanadium recovery plant in Pori, Finland, completion expected in June 2022.
  • MoU between Neometals' partner, Critical Metals, and H2 Green Steel for a potential second, larger vanadium recovery plant in Sweden."

Barrambie Titanium and Vanadium Project ("Barrambie") (100% NMT)

  • "Preparation of Barrambie mixed gravity concentrate sample for Jiuxing commercial smelting trials in China.
  • Leading mining service providers progressing due diligence to provide "Build-Own-Operate" proposals for the development of Barrambie on a capital-light basis.
  • Pre-feasibility study advanced on Australian mining and beneficiation operation with Chinese refining activities."

You can view the latest investor presentation here.

Location map and site view of the 11km titanium-vanadium trend at the Barrambie Titanium and Vanadium Project in WA

Source: Barrambie Titanium / Vanadium Project - 3D Flythrough (video by Neometals)

Australian Vanadium [ASX:AVL] [GR:JT71] (OTC:ATVVF)

Australian Vanadium is an emerging vanadium producer focused on their Australian Vanadium Project in Western Australia. VSUN Energy was launched by AVL in 2016 to target the energy storage market for vanadium redox flow batteries (VRFBs).

On November 1, Australian Vanadium announced: "Mineral resource update at the Australian Vanadium Project." Highlights include:

  • "Higher tonnages modelled at the Australian Vanadium Project as a result of analysis of new rock density information.
  • Total vanadium Mineral Resource increases by 14.8% to 239Mt at 0.73% V2O5 comprising: Measured: 11.3Mt at 1.14% V2O5, Indicated: 82.4Mt at 0.70% V2O5, and Inferred: 145.3Mt at 0.71% V2O5.
  • High-grade vanadium zone tonnage increases 8.6% to 95.6Mt at 1.07% V2O5 comprising: Measured: 3Mt at 1.14% V2O5, Indicated: 27.5Mt at 1.10% V2O5, and Inferred: 56.8Mt at 1.04% V2O.
  • AVL focused on generating and increasing de-risked and large resource base to support the Australian Vanadium Project development.
  • New Mineral Resource allows update to BFS mine optimisation and scheduling."

On November 9, Australian Vanadium announced:

First letter of intent for iron titanium co-product offtake sales..... Validation of AVL's strategic location of a vanadium processing plant close to Geraldton Port.

On November 10, Australian Vanadium announced: "Vanadium MOU signed with Spanish VRFB Manufacturer E22."

On November 11, Australian Vanadium announced: "IGO's Nova nickel operation to trial VSUN Energy Vanadium Battery Standalone Power System."

On November 19, Australian Vanadium announced: "Geraldton Region Vanadium Process Plant development update." Highlights include:

  • "AVL has signed a one year extension to an option agreement for land to locate its processing plant near to the port city of Geraldton in Western Australia......"

On November 25, Australian Vanadium announced:

VSUN Energy targets electric vehicle charging with Vanadium Redox Flow Battery. Australian first for AVL subsidiary as 100% renewable energy stored in vanadium battery used to charge Tesla EV.

Catalysts include:

  • 2021 - Possible further off-take and/or JV partner announcements.
  • 2021 - BFS due.

You can view the latest investor presentation here, or read "Australian Vanadium Managing Director Vincent Algar Talks With Matt Bohlsen Of Trend Investing."

Technology Metals Australia [ASX:TMT]

The Company's primary exploration focus is on the 100% owned Gabanintha Vanadium Project located 40km southeast of Meekatharra in the mid-west region of Western Australia.

On October 28, Technology Metals Australia announced: "Quarterly activities report & appendix 5b for the quarter ending 30 September 2021." Highlights include:

Murchison Technology Metals Project

  • "Assay results confirm thick zones of high grade massive magnetite mineralisation from drilling at Yarrabubba, including: GBRC145: 24m @ 50.2% Fe, 1.13% V2O5 and 12.8% TiO2 from 176m. GBDD046: 67m @ 36.6% Fe, 0.81% V2O5 and 9.4% TiO2 from 69m.
  • Strategic review highlights the benefits of integrating Yarrabubba into the development of the Gabanintha high purity vanadium project as part of the Murchison Technology Metals Project.
  • Analysis indicates that the higher V2O5 content of the Yarrabubba concentrate has potential to materially impact the processing efficiency and economic returns compared to the 2019 GVP DFS, with scope to reduce operating costs in the early years of the integrated Project.
  • Integration strategy provides an opportunity to accelerate the delivery of vanadium production.
  • Mineral Resource estimate update for Yarrabubba to be delivered in the December quarter.
  • Strong institutional support for capital raising endorses the high-quality nature of TMT's vanadium assets."

Corporate

  • "A $20 million equity placement at $0.375 per share, cornerstoned by Resource Capital Fund VII L.P. [RCF VII], which is investing $13.5 million and will become an 18% shareholder.......
  • As of 30 September 2021, the Company had cash of $3.7 million....."

On November 10, Technology Metals Australia announced: "Yarrabubba mineral resource estimate upgrade. 110% increase to Yarrabubba indicated mineral resource estimate." Highlights include:

  • "Yarrabubba Mineral Resource Estimate grows by 32% to 36.6Mt at 0.8% V2O5.
  • Indicated Mineral Resource Estimate of 20.2Mt at 0.9% V2O5 at Yarrabubba......"

You can view the latest investor presentation here.

TNG Ltd [ASX:TNG] [GR:HJI] (OTCPK:TNGZF)

TNG is an Australian resources company focused on the evaluation and development of its Mount Peake Vanadium-Titanium-Iron project. The Mount Peake Project is located 235km north-northwest of Alice Springs in the Northern Territory of Australia. TNG Ltd is well advanced with a massive $4.7b NPV8%, but relies on titanium and iron with a lower grade vanadium by-product.

On October 29, TNG Ltd. announced:

September 2021 quarterly activities report. TNG to progress a fully-integrated operation at the Mount Peake Mine Site | Appointment of engineering and construction company Clough | Project Development Agreement executed with green energy company AGV | METS engaged for vanadium electrolyte production facility study.

On November 9, TNG Ltd. announced: "TNG raises A$12.5 million in oversubscribed share placement." Highlights include:

  • "TNG has raised A$12.5 million in an oversubscribed share placement at A$0.09 per share ("Share Placement") to fund the further consolidation planning, engineering and approvals, and project financing work streams for the Company's flagship Mount Peake Project, as well as to progress the Company's green energy initiatives......"

On November 23, TNG Ltd. announced: "New plant layout for Mount Peake completed by Clough."

You can view the latest investor video presentations here.

Silver Elephant Mining Corp. [TSX:ELEF] (OTCQX:SILEF) (100% owned subsidiary Nevada Vanadium LLC)

Silver Elephant Mining Corp. is a Canadian public company listed on the Toronto Stock Exchange. The Company now plans to exit from its non-silver assets (keeping its Bolivia silver assets), such as the Gibellini Black Shale primary vanadium project and the Bisoni Vanadium Project.

No vanadium related news.

You can view the latest investor presentation here.

Vanadium Resources Limited [ASX:VR8]

Vanadium Resources is a junior exploration company established with the purpose of exploring and developing gold zinc, lead, copper and other mineral opportunities. Vanadium Resources owns 74% of a globally significant vanadium project, the Steelpoortdrift [SPD] Project, in Gauteng Province, South Africa.

On October 27, Vanadium Resources announced: "Activities report - September quarter 2021." Highlights include:

  • "Declaration of Maiden Ore Reserve estimate for Steelpoortdrift Project
  • VR8's associate Vanadium Resource [Pty] Ltd entered into a Joint Development Agreement with DRA's Senergy to develop a Photovoltaic Solar Energy Supply solution for Steelpoortdrift Project
  • VR8 adopts global standard for ESG reporting."

On November 16, Vanadium Resources announced: "Activities report - September quarter 2021." Highlights include:

  • ".....Highlights of Engineering Studies: Multi-disciplinary engineering group Resonant Nuteq appointed as project engineering support partner....
  • Aim of ESG Technology is to supplement and improve VR8's planned production outcomes and to investigate the production of additional products that may be derived from the Steelpoortdrift ore.
  • Joint Venture company with TCM Research Ltd incorporated in the Republic of Ireland....
  • Company initiated discussions with South African university to establish a master's degree level research group to optimise potential ESG and Salt Roast processes."

On November 24, Vanadium Resources announced: "Additional information : update on ESG Technology Development."

You can view the latest investor presentation here.

King River Resources [ASX:KRR] (formerly King River Copper)

King River holds 785 square kilometres of mineral leases covering a unique geological feature in the Eastern Kimberley of Western Australia, called the Speewah Dome. The company state on their website: "The focus of King River Copper Limited is the exploration for Gold, Silver and Copper." However, their deposits also contain vanadium.

On November 3, King River Resources announced: "Project status update." Highlights include:

  • "New precursors and P-CAM product development has been achieved in the laboratory.
  • Laboratory Scale Pilot Plant up and running."

You can view the latest investor presentation here.

Vanadiumcorp Resource Inc. [TSXV:VRB][GR:NWN] (OTCPK:VRBFF)

Vanadiumcorp Resources Inc. 100% owns the Lac Dore Vanadium-Iron-Titanium project in Quebec Canada. The Company also has royalties on the Raglan Nickel-PGM mine. The Company is looking to take a vertically integrated approach and is also developing leading process technologies 'VanadiumCorp-Electrochem Processing Technology' and "Electrochem globally patented Electrowinning" technology.

On November 9, Vanadiumcorp Resources Inc. announced:

Hydrometallurgical testing update. Vanadiumcorp Resource Inc. announced on May 10, 2021, starting a joint hydrometallurgical testing program on titanomagnetite concentrate from the Mustavaara deposit of Strategic Resources Inc. [TSXV: SR].....

You can view the latest investor presentation here.

Phenom Resources Corp. [TSXV:PHNM] (OTCQX:PHNMF) (formerly First Vanadium Corp.)

Cornerstone's Carlin Vanadium project hosts one of North America's largest richest primary vanadium deposits, located in Nevada. Its West Jerome project targets a large scale high grade copper and zinc deposit in Arizona. Carlin has a Historic Inferred Resource 28Mt at 0.525% V2O5 (2010 SRK).

On November 16, Phenom Resources Corp. announced:

Phenom receives exchange acceptance of SMOKE property option agreement, in Independence - Eureka Gold Trend, Nevada.....the Company is pleased to announce that it has now received TSX Venture Exchange acceptance of the property option agreement to acquire the SMOKE Property.....

On November 23, Phenom Resources Corp. announced: "Phenom Resources provides drill progress on its flagship Nevada Project." Highlights include:

Initial conclusions from the drilling are:

  • "The system is immense, tracking at least 6.4 kilometres (4 mile) long averaging 0.5-1 kilometre (0.3-0.6 miles) wide as defined by the IP anomaly (in orange-pink-white in the following figures). Drilling within the IP anomaly has confirmed that the IP anomaly reflects elevated sulfides encountered in every hole, thus confirming that the IP anomaly expresses the overall size and shape of the system.......
  • Extensive drill intercepts averaging 0.5 kilometre long (364-677m) of continuous elevated gold values have been encountered in every hole, indicating a vast amount of rock has been impregnated with gold.
  • Accompanying alteration - silicification, dolomitization, and brecciation and pathfinder metals - arsenic and mercury, typical of Carlin gold systems were encountered in every hole....."

Investors can read the latest company presentation here.

Graphite miners with potential vanadium projects

  • Syrah Resources [ASX:SYR] (OTC:OTCPK:SYAAF) (OTC:SRHYY)
  • Triton Minerals [ASX:TON] [GR:1TG]
  • Battery Minerals [ASX:BAT]
  • NextSource Materials [TSX:NEXT]
  • DNI Metals [TSXV:DNI] [GR:DG7N]

Other listed vanadium juniors

  • BlackRock Metals (Private)
  • Gladiator Resources [ASX:GLA]
  • Golden Deeps [ASX:GED]
  • Intermin Resources [ASX:IRC]
  • Maxtech Ventures [CSE:MVT]
  • New Energy Minerals [ASX: NXE] (formerly Mustang Resources)
  • Pursuit Minerals [ASX:PUR]
  • QEM Limited [ASX:QEM]
  • Sabre Resources [ASX:SBR]
  • Trigon Metals Inc. [TSXV:TM] (OTC:PNTZF)
  • Vanadium One Energy Corp. [TSXV:VONE] [GR:9VR1] (OTC:VDMRF)
  • Vanadium One Iron [TSXV:VONE]
  • Venus Metals [ASX:VMC]
  • Victory Metals [TSXV:VMX]

VRFB companies

  • Protean Energy [ASX:POW] [GR:SHE1]
  • Cellcube Energy Storage Systems [TSXV:CUBE] [GR:01X] (OTC:CECBF)
  • Invinity Energy Systems (LSE:IES) (IVVGF)

EV metal miners royalties companies

  • Electric Royalties [TSXV:ELEC]

Conclusion

European vanadium pentoxide spot prices were slightly higher in November.

Highlights for the month include:

  • The emergence of new energy storage demand is a game changer for high-purity vanadium, in this case to supply VRFB's.
  • 226MWh of vanadium flow batteries on the way for California Community Energy Group.
  • Up to 140TWh of long-duration energy storage could be needed worldwide by 2040 to limit the worst impacts of climate change.
  • AMG Vanadium's second spent catalyst recycling facility is proceeding as planned, commissioning target is Q1, 2022.
  • Largo Resources announces name change to Largo Inc.. New Maracás Menchen Mine PFS with TiO2 included, results in an after-tax NPV7% of $2.0b for Largo's Vanadium-Titanium Operations. Largo Q3 2021 results - net income of $9.2 million, a 261% increase over Q3 2020.
  • Western Uranium & Vanadium intersects very high-grade uranium and vanadium ore.
  • Australian Vanadium - Total vanadium Mineral Resource increases by 14.8% to 239Mt at 0.73% V2O5, receives LOI for iron titanium co-product offtake sales.
  • King River Resources Laboratory scale Pilot Plant up and running.
  • Phenom Resources receives exchange acceptance of SMOKE property option agreement.

As usual all comments are welcome.

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Trend Investing looks at investment trends for professional investors.

The Trend Investing group includes qualified financial personnel with a Graduate Diploma in Applied Finance and Investment (similar to CFA) and well over 20 years of professional experience in financial markets. Trend Investing searches the globe for great investments with a focus on "trend investing" themes. Some focus trends include electric vehicles and the lithium/cobalt/graphite/nickel/copper/vanadium miners, battery and plastics recycling, the online data boom, 5G, IoTs, AI, cloud computing, renewable energy, energy storage, space tourism, 3D printing, personal robots, and autonomous vehicles. Trend Investing also hosts a Marketplace Service called Trend Investing for professional and sophisticated investors. The service is information only and does not offer advise or recommendations. See Seeking Alphas Terms of use. https://seekingalpha.com/page/terms-of-use

Disclosure: I/we have a beneficial long position in the shares of AMG ADVANCED METALLURGICAL GROUP NV [AMS:AMG], LARGO RESOURCES [TSX:LGO], NEOMETALS [ASX:NMT], AUSTRALIAN VANADIUM [ASX:AVL], SYRAH RESOURCES [ASX:SYR], TRITON MINERALS [ASX:TON] either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: The information in this article is general in nature and should not be relied upon as personal financial advice.

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