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Enter Symbol
or Name
USA
CA



Vanadiumcorp Resource Inc
Symbol VRB
Shares Issued 244,037,152
Close 2019-05-09 C$ 0.065
Market Cap C$ 15,862,415
Recent Sedar Documents

Vanadiumcorp cheers Ultra Power, Australian Vanadium JV

2019-05-13 10:46 ET - News Release

Mr. Adriaan Bakker reports

VANADIUMCORP-ELECTROCHEM PROCESS TECHNOLOGY DEVELOPMENT PLANNED FOR AUSTRALIAN JOINT VENTURE

Vanadiumcorp Resource Inc. applauds the joint venture agreement signed with vertically integrated electrochemical processing and energy storage technology company Ultra Power Systems Pty Ltd. and Australian Vanadium Ltd. to evaluate and develop the Coates vanadium project near Perth.

The Coates deposit is situated approximately 35 kilometres east of the Perth metropolitan area in the shire of Wundowie. Ultra Power aims to produce vanadium electrolyte using a combination of a unique processing route and high-density vanadium electrolyte production. Australian Vanadium has signed the joint venture to create value for shareholders by monetizing a secondary asset and testing Vanadiumcorp-Electrochem processing technology (VEPT) focused on enhancing the uptake of vanadium-redox flow batteries (VRFB) in Australia. The joint venture agreement allows for Australian Vanadium to receive either $500,000 or equivalent shares in Ultra Power.

Australian Vanadium is a resource company focused on vanadium, seeking to offer investors a unique exposure to all aspects of the vanadium value chain -- from resource through to steel and energy storage opportunities. Australian Vanadium is advancing the development of its world-class Australian Vanadium project. The Australian Vanadium project is currently one of the highest-grade vanadium projects being advanced globally with 183.6 megatonnes at 0.76 per cent vanadium pentoxide (V2O5), containing a high-grade zone of 96.7 Mt at 1 per cent V2O5 with an ore reserve of 9.82 Mt at 1.07 per cent V2O5 proved and 8.42 Mt at 1.01 per cent V2O5 probable resource, reported in compliance with the Joint Ore Reserves Committee Code 2012. Australian Vanadium has developed a local production capacity for high-purity vanadium electrolyte, which forms a key component of VRFB. Australian Vanadium, through its 100-per-cent-owned subsidiary VSUN Energy Pty Ltd., is actively marketing VRFB in Australia.

Ultra Power was formed for the purpose of offering next-generation power and storage system solutions to capital-conscious clients. The company intends to provide brand and generation agnostic solutions according to a customer's needs, but with the core provision of a third-generation VRFB, which represents a transformational catalyst to enable the vision of blended power supply inputs on microgrids and megagrids.

Vanadiumcorp Resource Inc. and Electrochem have a patent option agreement with Ultra Power to purchase an exclusive Australian licence and build a process plant for VEPT. Jointly developed and owned with Electrochem, this innovative chemical process allows for integrated and low-carbon-footprint recovery of vanadium, ferrous sulphate and titanium hydrolysate needed on a global scale. Vanadiumcorp also holds a significant vanadium-titanium-iron bearing resource base in mining friendly Quebec, including the 100-per-cent-owned Lac Dore project adjacent to Blackrock Metals Inc. and the 100-per-cent-owned Iron-T project near the Glencore Matagami (zinc-copper) mine.

Electrochem Technologies & Materials Inc. is a private Canadian corporation that invents, develops, patents, scales-up and commercializes proprietary chemical, metallurgical and electrochemical technologies that are innovative and sustainable. Electrochem currently owns 24 patents worldwide. The company also manufactures industrial electrodes, recycles rare earths, and produces tantalum and tungsten fine chemicals at its production facilities in Boucherville.

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