Hi Bluebagger,
That is a VERY good question. Sumitomo have a long history of funding projects in Australia. They are also a leader in VRB technology, but they did appear to pause their VRB business for a few years due to availability of the quantity of Vanadium required to produce at scale at a reasonable cost.
IMHO (possibly wishful thinking) this test work timing in no coincidence. Sumitomo will want to know if Speewah ore is suitable to make battery grade electrolyte before getting involved in a precursor to mining Vanadium at Speewah.
As we know the company currently plans to progress the Flourite project first because of the simplicity of the project and basic project economics to fund ongoing development at Speewah.
Who knows what will come of this but it is known that Sumitomo are:
A- interested in locking in a source of suitable and reasonably priced Vanadium to support their VRB business
B - Are happy to back Australian mining projects at an early stage to achieve their goals
If the testwork comes off as expected I would not rule any financial involvement at Speewah by Sumitomo out.
Hi Bluebagger,That is a VERY good question. Sumitomo have a long...
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