Ann: Intermin Announces World Class Vanadium Resource, page-3

Commenting on Richmond project, Intermin Managing Director Mr Jon Price said:

“The Richmond Project hosts a globally significant Vanadium resource amenable to low cost, shallow open cut mining in close proximity to existing road, rail and ports. With vanadium prices reaching ten year highs on the back of tightening supply and surging demand in the grid-scale battery market, Richmond has the potential to become a major supplier of Vanadium to the energy storage and steel markets.
“The Company looks forward to supporting AXF as the JV completes infill drilling and metallurgical test work to assess the most economic and efficient pathway to commercial production.”