Western Uranium (& Vanadium) (WUC.C) has signed an agreement with Battery Mineral Resource Nevada whereby the latter will try to figure out whether or not the vanadium on the Sage Mine could be recovered and sold. BMR will take care of the cost to conduct all the necessary studies, and should BMR go ahead with its development plans, it will have to complete an additional payment to Western uranium where after both partners will fund 50% of the development expenses.
Should a joint venture be formed, BMR will gain access to 65% of the vanadium and 10% of the uranium at the Sage Mine project, whilst Western Uranium will keep 35% of the vanadium and 90% of the uranium. This appears to be a good deal and although vanadium certainly is a ‘flavor of the day’, Western Uranium is still focusing on uranium. The vanadium could be a nice kicker, but it’s fine to let someone else deal with it.
Western Uranium also proposed to change its name to Western Uranium & Vanadium, and shareholders were invited to vote on the name change at last week’s AGM, where it was approved.
Go to Western Uranium’s website
The author has a long position in Western Uranium. Please read the disclaimer
