Substantial differentiation between Tier 1 and Tier 2 vanadium resources
Bushveld Minerals’ (AIM:BMN) updated resource and reserve estimate for the Vametco mine emphasises once again the gulf in class between existing vanadium producers and many of those developers which want to become producers. Vametco, one of BMN’s three assets has an updated resource of 186.7Mt @ 0.78% V2O5 (138Mt attributable to Bushveld) and a whole rock grade of 0.62% V2O5 for its reserve. This is actually quite a lot lower grade than Largo Resources’ (TSX:LGO) Maracas Menchen, but that is a substantially smaller orebody with a significantly smaller contained tonnage. We are tracking 51 vanadium exploration and development projects globally...
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