Hi Grant, yes so much for 1st qtr - announcement below reflects why price has fallen from around $1.50 ( all fresh air - Glasier better watch himself - too many tall stories makes investors wary)...
WESTERN URANIUM & VANADIUM PROVIDES SUNDAY MINE COMPLEX VANADIUM PROJECT UPDATEFOR IMMEDIATE RELEASEToronto, Ontario and Nucla, Colorado- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF)(“Western” or ”Company”) provides a shareholder update regarding its previously announced plan to re-openthe Sunday Mine Complex (“SMC”) for a vanadium project. Over the last several months, Western has advanced the re-opening of the SMC by: 1. Preliminary Mine Planning and Budgeting; 2. Evaluation of Equipment and Personnel Requirements and Availability; 3. Pursuing Project Funding Options; and 4. Expanding Vanadium Marketing Opportunities. The SMC Vanadium Project will be commenced within weeks of satisfactory project funding. Theprimary goals to be completed during the following six to nine months are: 1. Identification of High-Grade Vanadium Zones measured by X-Ray FluorescenceTechnology and Sample Assay Analysis; 2. Long-Hole Drilling and Bulk Sampling from the Extensive Underground Mine Workings ofthe Sunday Mine Complex; 3. Expand Resource Estimates with New Defined High-Grade Vanadium Resource. 4. Delivery of Samples to Various Vanadium Processors and End-Users for Analysis; and 5. Negotiation of Vanadium Term Contracts to catalyze Mine Production. Vanadium pentoxide prices have increased significantly over the past several years to a current levelover $17 per pound of V2O5. Independent market analysis by several recognized organizations suggestsustained vanadium price levels for the next three to five years. Western management believes thesemarket conditions would make SMC vanadium production attractive over this period.As Western advances with its plans for re-opening of the SMC and is able to report on the timing ofpreparations, anticipated start dates and other milestones, Western will provide shareholders andinvestors with further updates.
