Business
American Vanadium Corporate Update
Mar. 24, 2011 (Filing Services Canada) -- American Vanadium Corp. (AVC - TSX Venture), is pleas...
About this update from Monitor Ventures Inc
[{"type":"text","content":"\nAmerican Vanadium Corporate Update\n\n Mar. 24, 2011 (Filing Services Canada) -- American Vanadium Corp. (AVC - TSX Venture), is pleased to report that our Gibellini Project in Nevada - positioned to be the only vanadium mine in the US - is moving on pace towards the delivery of Feasibility Study in Q2, 2011 and start of production by 2013. \"It is important to recognize that the US imports virtually 100% of its vanadium, which makes our project critical for domestic production of high quality steel and mass storage of renewable energy\", stated Bill Radvak, President & CEO of American Vanadium Corp.  \"Recent growth in the demand for high strength, low alloy steel has resulted in the price of vanadium pentoxide increasing from the $7.00 per pound range of 2010 to $7.50 today and forecasted by JP Morgan to increase to $8.00 by the end of 2012 when AVC anticipates being in production. This upward price movement will improve the positive economics of our 2008 Scoping Study which gave an after-tax internal rate of return of 40% using a price of $6.00 per pound.\"\"We have also garnered significant attention from the key players in the renewable energy industry as we are uniquely positioned to produce vanadium electrolyte midstream in our recovery process,\" stated Bill Radvak.  \"The world is coming to the realization that large-scale adoption of clean, renewable energy is dependent on having grid level energy storage solutions and the US government is now funding these initiatives accordingly.  In a recent speech, President Obama acknowledged vanadium flow batteries as an important part of improving energy efficiency. American Vanadium is strategically well positioned to become the only domestic producer of vanadium electrolyte in the US.\"Feasibility Study and NI 43-101AVC continues to make strong progress with its Feasibility Study which at this time remains on the original schedule to be completed by the end of May 2011.  An updated NI 43-101 is expected to be completed one month after the completion of the Feasibility Study.AMEC (American Mining and Engineering Corporation) is building on the Scoping Study and Preliminary Economic Assessment it prepared for the Company in 2008.  The unique disseminated, sedimentary deposit at the Gibellini Project allows for simple sulfuric a...