Ann: Daejon Vanadium Mining Study Update, page-33

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Surandy70

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29/05/19

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Post #: 38791222
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Originally posted by GMoney79: ↑

I finally received a call back today.

I have expressed my frustration with the lack of updates. The mining study was due out in Q1 of 2019, and we have not seen anything.

The feedback I have is the mining extraction license is with the Korean government and they have until the end of June to approve this. Once approval is received they will proceed further with the study. So we should expect an update soon on this, and there’s no reason as to why it wouldn’t be given.

The battery trials are still progressing and are pretty much fully funded with the $3m grants funding they’ve received. They will update the market as the trials progress. Not certain on the pathway to commercialisation though, guy I spoke didn’t seem full bottle on it.

In terms of funding they have 1.7m in the bank, not needing a raise anytime soon. I’d certainly hope a raise isn’t necessary at current price it’d dilute us like nothing else.

I expressed my concern with the website, I also noticed the subscription renewal. There’s an announcement that they’ve increased stake in Korid Energy - that never eventuated, why is it still on the website? The email contact is also out of date, so this needs updating. Needless to say not super impressed with small oversights, doesn’t portray a level of professionalism you’d expect for a listed company.

Overall though I can still see the potential, ideally they’ll be showing a path to commercialisation of their battery tech, and a way forward with the vanadium resource. I guess we hold and wait

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Thanks for the update.

"The mining study was due out in Q1 of 2019, and we have not seen anything. "

Are you sure on that? According to my notes, I think from a presentation, only said that the preliminary mining study was expected to be completed in H1 of 2019.

POW Price at posting: 1.0¢ Sentiment: Hold Disclosure: Held
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Ann: Daejon Vanadium Mining Study Update, page-33

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Ann: Daejon Vanadium Mining Study Update, page-33

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