KRR has $4,537,346 in cash and cash equivalents at end of half...

KRR has $4,537,346 in cash and cash equivalents at end of half year (Ann 31-12-2021). The current plant design for the 2000tpa 5N Aluminium precursor plant which will then allow KRR to create samples for potential customers. As I have previously said there will be quite a bit going on this year. These are a few things that will be happening before and after 31 July 2022

DFS May 2022

RC drilling at the Kurundi Main high grade gold target in May this year.(Ann18-02-2022)

Speewah project metallurgical test work of the Speewah Project continued during the quarter with the focus on extracting high purity vanadium (V) and titanium (Ti) products to address the current interest in battery metals and master alloy compounds of the green economy

Options have an exercise price of $0.06 and expiry date of 31 July 2022.

The Definitive Feasibility Study (DFS) remains on track to be completed by early May 2022 (Ann 05-10-2021)

Project funding Q2 2022 as per project development schedule (Ann 16-06-2021) which had a schedule for a 9,000tpa 4N HPA production operation, will now be 2,000tpa 5N HPA.

The current plant design for the 2000tpa 5N Aluminium precursor plant design basis is for a highly modular plant to allow for both future productionexpansion and product variation therefore is unaffected by this development. Adding this additional process train into the scope of the DFS will open up more market opportunities for High Purity Metals giving it the option to produce either of the products depending on market demand.(Ann 16-03-2022)

The Board believes that there are reasonable grounds to assume that future funding will be available when required. (Ann 16-06-2021)

In regards to Vanadium which seems to be hot at the moment, KRR has a Vanadium project which has the largest vanadium-in-magnetite deposit in Australia with a total global measured, Indicated and Inferred Mineral Resource of 4,712 million tonnes at 0.3% V2O5, 2% Ti and 14.7% Fe (Ann 24 October 2018)

Vanadium’s demand is driven by its application in a variety of burgeoning industries including the manufacture of large capacity battery storage, steel and speciality aeronautical alloys, nuclear reactors and even military equipment.

Industry research group Technavio has forecasted the market to grow by 28,310t lifting off its base of 73,000t from the period 2020 to 2024. Notably, the projection was made before any of the Russian related geopolitics kicked off and it’s a potentially huge variable as the current international pariah accounts for about 25 per cent of the current global supply.

Whilst traditionally about 86 per cent of vanadium is consumed in the steel industry, the five per cent consumed in energy storage is anticipated to grow rapidly as the globe marches towards net-zero. Global Industry Analysts suggest the global market for vanadium redox batteries will attract nearly $238m in 2022 and grow at a staggering compound annual growth rate of 20.9 per cent to US$592.4m by 2026.

Vanadium is up 60 per cent since the beginning of the year, with vanadium pentoxide in its flake form reaping US$12.10 a pound – or $37,050 a tonne, Australian dollars.

LINKS:

ABC

https://www.abc.net.au/news/2022-03-31/vanadium-boom-on-the-horizon-for-australia/100950236

https://www.abc.net.au/news/2022-03-16/government-funds-critical-minerals-end-china-reliance/100912002

Australia adds HPA

https://www.argusmedia.com/en/news/2312699-australia-adds-hpa-silicon-to-critical-minerals-list

HPA recognised in Critical Minerals Strategy

https://www.australianmining.com.au/news/silicon-hpa-recognised-in-critical-minerals-strategy/

Australian critical minerals projects to receive US financing support

https://*********.com.au/australian-critical-minerals-projects-receive-us-financing-support/

What the alp’s agenda may mean for WA’s mining sector this time

https://www.herbertsmithfreehills.com/latest-thinking/take-2-what-the-alp%E2%80%99s-agenda-may-mean-for-wa%E2%80%99s-mining-sector-this-time

King River diversifies HPA production with DFS findings

https://www.businessnews.com.au/article/King-River-diversifies-HPA-production-with-DFS-findings