World News: 12:00 GMT Wednesday 12th June 2019. [Streetwise Reports Llc via Globe Newswire via SPi World News]
SAN FRANCISCO, June 12, 2019 (GLOBE NEWSWIRE) -- With demand of vanadium expected to increase and U.S. uranium possibly getting a bump by White House action, this company could be in the driver's seat with its U.S. projects.
In 2014, when uranium prices were hitting rock bottom, Western Uranium & Vanadium, in which CEO George Glasier owns a governing share, purchased a historically lucrative portfolio of mining properties in Colorado and Utah. The flagship property of the deal is the fully permitted Sunday Mining Complex—composed of five separate, fully permitted and developed mines: the Sunday, Carnation, Saint Jude, West Sunday and Topaz mines.
Glasier told Streetwise Reports, "The Sunday Complex mines are ready to go into production. The infrastructure is in place, so there are almost no capital costs to get going. We anticipate low production costs. Each of the mines is accessible by a paved highway. Each has electric power, office, storage and shop infrastructure, and, best of all, extensive underground haulage development served by vent shafts with exhaust fans."
Vanadium is an elemental metal; in the Uravan Mineral Belt that spans Colorado and Utah, it is found in conjunction with uranium. Vanadium has high market demand as the catalytic component of super-strong steel for jet engines and other aerospace and industrial uses.
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Globe Newswire: 12:00 GMT Wednesday 12th June 2019
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