Does anyone know why WUC has prioritized the Sunday Mine Complex above the San Rafael mine in Utah? Both Colorado and Utah are NRC Agreement States. Sunday has higher U grades, but San Rafael has higher resource estimates. Sunday has higher vanadium resource estimates, and at higher grades. But vanadium prices are at a 52-week low. It appears that no permits have been obtained for San Rafael. In contrast, the Sunday mines have mining permits from the state, but no permit amendment application has been filed to utilize ablation. Moreover, the Sunday mines need an updated environmental assessment and plan of operations from the U.S. Bureau of Land Management. And the Colorado health and environment department has yet to launch its previously-announced stakeholder process on ablation.
On balance, the Sunday mines would seem to have an edge over San Rafael. But why isn't WUC hedging by simultaneously advancing San Rafael in case Sunday gets bogged down in its permitting? Lack of cash?
BLR Price at posting:
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