Vanadium Prices reach multi year highs on China concerns…SRJ has 4 Vanadium Prospects in Quebec

Aug 1, 2017

Spot FeV, V2O5 prices reach multi-year highs on China supply concerns (Metal Bulletin)

Vanadium prices continued their rally in Europe and the USA last week, while soaring replacement costs for oxide and alloy from China provided a backdrop for still firmer prices in the coming months.

Chinese sellers rise export prices, or decline to offer, as domestic prices continue to soar European, US prices follow suit, supported by trader buying Higher prices on the horizon as long as Chinese premium holds Metal Bulletin assessed Chinese ferro-vanadium prices at $40.60-44 per kg, fob, on Thursday July 27, compared with $30-33 per kg seven days earlier, marking a rise of 34.3% week-on-week. The move reflects an average price increase of about 10,000 yuan per day over the past week, as sellers immediately raised their offers in the export market after domestic prices rallied. The big move has been facilitated by tighter supplies as a result of environmental inspections in the major production hub of Sichuan province.

SRJ has made a significant acquisition of vanadium prospects in Quebec, home to some of the highest quality vanadium projects in Canada.

Spearmint Acquires 4 Vanadium Prospects, the “Chibougamau Vanadium Prospects” in Quebec, Canada

Spearmint Resources Inc. (“SRJ” or the “Company”) (SRJ—TSX.V)( SPMTF—OTCBB) (A2AHL5–FSE) wishes to announce that it has acquired a 100 percent interest in 4 separate vanadium prospects, the “Chibougamau Vanadium Prospects” all located in the direct vicinity of Lac Chibougamau, Quebec. These 4 separate vanadium prospects comprise 50 separate claims totaling approximately 6,850 acres (2775 hectares).

James Nelson, President of Spearmint stated, “We are very pleased to be able to acquire 4 separate vanadium prospects all located in direct vicinity of the vanadium deposit of BlackRock Metals. These new properties border BlackRock Metals’ (private) Ilmenite vanadium project, Vanadiumcorp Resource Inc’s (VRB-tsx.v) Lac Dore vanadium project and Vanadium One Energy Corp’s (VONE-tsx.v) Mont Sorcier vanadium project. This new block of claims puts Spearmint in the heart of the expanding Chibougamau mining district’s vanadium circle. Vanadium has garnered significant market attention recently as the use of vanadium in battery storage is gaining momentum and we are very pleased to be able to acquire a significant footprint in one of Canada’s best known vanadium districts.”

http://www.spearmintresources.ca/news.html