Currently, the Company is operating a processing plant treating low-grade bought-in concentrates with a production capability of around 200 tonnes per annum of vanadium pentoxide in the form of ammonium metavanadate (AMV), with higher output of up to around 450 tonnes per annum possible if higher grade feeds are treated. This plant was based on the former pilot plant which was suitably adapted to treat concentrates and thereby increased output to the current semi-commercial level. With minor adaptation this plant can be converted to treat a wide variety of secondary sources of vanadium including spent catalysts and vanadium-containing ashes.
Having reached a steady state of operations and thereby proven the operating effectiveness, the Company now plans to increase output to up to 2,000 tonnes of V2O5 per year by doubling the size of the plant building, purchasing suitable additional equipment and improving infrastructure.
The cash flows from this processing operation will provide a significant proportion of the equity requirement for the development of the first phase of the Company’s own mine and processing facilities, and will enable the Company to finance any debt requirement at much lower cost.