Company Comparison, page-40

There are a few additions to the vanadium company list. Yesterday, MUS announced its vanadium resource. It's share price jumped by 26.7%. Looking at the companies, it appears that vanadium is associated with uranium or titanium or graphite. Some companies have graphite with vanadium, some have titanium with vanadium and some have uranium with vanadium.

	Column 1	Column 2	Column 3
0	Vanadium Company	Market Value (million)	Vanadium Resource (V2O5)
1	KRC King River Copper	117.6	4,712 million tonnes at 0.3%
2	IRC Intermin Resources	38.6	2,579 million tonnes at 0.32% (25% interest)
3	AEE Aura Energy	23.5	1,950 million tonnes at 0.3% (High grade zone: 90 million tonnes at 0.42%)
4	TON Triton Minerals	48.4	1.44 billion tonnes at 0.29%
5	TNO Tando Resources	26.6	513.3 million tonnes at 0.78%
6	VMS Venus Metals	12.6	330.6 Million tonnes at 0.29%
7	AVL Australian Vanadium Limited	79.4	180 million tonnes at 0.75 %
8	TNG TNG Limited	95.7	160 million tonnes at 0.28%
9	TMT Technology Metals	36.2	120 million tonnes at 0.8%
10	POW Protean Energy	9.6	33.7 million tonnes at 0.3% (50% interest)
11	MUS Mustang Resources	18.2	22 million tonnes at 0.37% vanadium pentoxide (V2O5)
12	GED Golden Deeps	7.9	0.86 million tonnes at 1.25%

News Flow for AEE
▪ Tiris Mining Lease grant, test work results and DFS completion (DFS to be completed later this year)
▪ Häggån Vanadium test work results (should be this quarter)
▪ Häggån Vanadium IPO progress and execution (Q4 2018)
▪ Häggån Vanadium Scoping Study update (by September 2018)
▪ Gold exploration permits grant (Can be any time)
▪ Tiris uranium production offtake (2019/2020)