Vanadium.... Only a matter of time.......

Vanadium....

Only a matter of time....

http://qldem.com.au/julia-creek-project/project-summary/

In 2015, QEM conducted an initial exploration program which resulted a maiden JORC Inferred Resource of 1,326 million tonnes, with an average yield of 0.36% vanadium pentoxide content, and an average oil content of 64.1l/t within the oil shale unit, with other minor metals also available including; nickel, copper, molybdenum and zinc.
QEM completed a scoping study in 2016, based on the initial exploration results.The conclusions of the study indicated that an opportunity exists for a significant world class vanadium and oil shale project.

Project Highlights

• Proposal for an open-cut mining operation with a projected annual production of 2 Mtpa of vanadium, ramping up to 5 Mtpa by year 5.
• Based on a pit design of an average grade of 0.39% vanadium pentoxide (V2O5).
• Expected to produce approximately 14,000t of V2O5 annually at an estimated recovery of 75%
• Metallurgical recovery @ 80% to produce a concentrate grade of 98.5%
• Estimated operating costs to be in the lowest quartile (with oil credits)
• Oil production estimated at approximately 5,200 BOPD
• Total oil production estimate for LOM 48,261,723 barrels
• Estimated mine life of 27 years.

This study has provided the confidence to progress the project and QEM is now moving toward the pre-feasibility phase of development, through further drilling, metallurgy and technical studies and has expanded on the original tenement area since the report was produced, increasing the potential size and scope of the project.
The resources are very close to surface and QEM will utilise standard open cut mining methods and an advanced and environmentally safe, above ground processing facility.

http://qldem.com.au/wp-content/uploads/2014/09/Media-Release-Aug-2017-Petroteq-MOU.pdf

"11th August 2017 QEM signs MOU with Petroteq Energy Inc.
Queensland Energy & Minerals Pty Ltd, is very happy to announce the signing of a Memorandum of Understanding with Petroteq Energy Inc. Petroteq Energy, Inc. is a Canadian-registered holding company, publicly trading on the TSX Venture Exchange (Symbol: PQE) and the OTCQX trading platform (Symbol: PQEFF). Its offices are located in Toronto, Ontario, Canada and Los Angeles, California USA with its initial plant location in Vernal, Utah. USA Petroteq's proven and scalable oil extraction technology utilizes no water in the extraction process, produces no greenhouse gases and requires no high temperatures/pressures. It extracts up to 99% of all hydrocarbon contents and recycles up to 99% of the benign solvents. QEM has carefully selected Petroteq Energy’s ground-breaking processing technology for use on its 100% owned Julia Creek Oil Shale and Vanadium Project in Queensland Australia, as the technology is perfectly suited to the project, having no requirement for large volumes of water and excellent environmental credentials, essential to the success of the project in Australia
...
New financial modelling of the Julia Creek project, using input data derived from Petroteq’s own operations in the US, have shown a marked increase in the project NPV, now at AUD$837m, with IRR now at 50% (Discount rate 12%) driven by a lower CAPEX, reducing from AUD$314m down to AUD$233m and lower OPEX for oil production, from US$24/bbl, down to US$8.50."