Ann: High Purity Vanadium Pentoxide Produced, page-2

High Purity Vanadium Pentoxide Produced

Positive benchscale testwork achieves target V2O5 flake product quality and exceptional roast leach vanadium extraction

Highlights:
• High Purity 99.4% Vanadium Pentoxide (V2O5) produced from pre-pilot testwork. Product quality is comparable to standard products from existing global producers.
• Latest roast-leach process testing demonstrates the dual benefits of pelletising and increased roasting temperatures. Bench scale optimisation tests show a significant improvement in vanadium roast leach extraction compared to the basis applied in the PFS.
• Improved vanadium recovery in the refinery process can potentially deliver an overall improvement in post-tax project Net Present Value (NPV8) of US$14.3M for every 1% increase, assuming a price of US$13/lb.
• The AVL mine standard product is expected to be of outstanding quality by selection of the APV precipitation process. This change to the PFS flowsheet has potential to simplify the refinery circuit and lower both capital and operating costs.
• Pilot scale testwork is advancing. CMB circuit continuous testing on 4 tonne and 2 x 10 tonne typical mine life material blends are due for completion in early July 2019. Representative concentrate samples will proceed immediately to pilot scale roast-leach and hydrometallurgical refining testwork (Q3 and Q4, 2019).

Pretty good ann overall