Energy Storage Innovation and Advance Battery Technology Fueling Aggressive New Mining Opportunities
PALM BEACH, Florida, May 1, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Industry interest and investment in renewable energy and resources continues to rise, including various precious metal segments as researchers look for methods to enhance alternative energy applications and uses. The growing adoption of renewable energy and the newest innovations for battery storage is expected to propel growth in the global vanadium redox battery market as well as demand for a growing number of precious metals. Vanadium itself has been a little known precious metal but important traditional part of the metals industry because it provides unrivalled hardness and strength when alloyed with other metals. And now has found an exciting new use thanks to the growth of renewable energies. Vanadium has enjoyed a revival since 2016, when prices doubled after three years of annual declines. According to Pala Investments, the market is projected to continuing experiencing this growth 10-fold through 2025. Active mining companies in the markets this week include Stina Resources Ltd., (CSE: SQA) (OTC: STNUF), Vanadiumcorp Resource Inc. (TSX-V:VRB) (OTC:APAFF), Cameco Corporation (NYSE:CCJ) (TSX:CCO), McEwen Mining Inc. (NYSE:MUX), Largo Resources Ltd. (TSX:LGO) (OTC:LGORF).
Stina Resources Ltd. (CSE: SQA.CN) (OTCQB: STNUF) BREAKING NEWS: Stina Resources is pleased to announce the completion of an arm's length transaction to acquire all the outstanding assets of former Gildemeister Energy Storage GmbH, including its CellCube vanadium flow battery, and its energy storage business.
Stina has established a new wholly-owned Austrian subsidiary, Enerox GmbH, that has acquired the Gildemeister assets and business. Enerox is one of the world's first and largest researchers, developers, manufacturers and distributors of vanadium flow batteries. As an industry leader in the energy storage sector, it has installed vanadium flow batteries at over 100 sites globally.
As energy storage deployments continue to rapidly increase globally, Stina is committed to invest in technology to further its industry advantages as a global, integrated energy storage company for both customer-sided and utility scale energy storage applications.
"Our investment in the former Gildemeister's assets have enabled us to immediately offer leading energy storage technology to global markets and complements our vision for Stina to be a fully integrated energy storage company. With our end-to-end business approach, we are bringing about the next evolution in the way energy storage will be integrated in demand-side and distributed generation power infrastructure alike," says Brian Stecyk, President and CEO of Stina.
"Enerox is pleased to announce the acquisition of all the assets of Gildemeister's CellCube energy storage business and will now be able to immediately resume the sale and installation of its energy storage solutions. CellCube batteries are based on a solid decade of experience in vanadium redox flow systems with over 100 installations worldwide. These systems provide large scale electricity storage solutions for energy centric market segments that are rapidly transitioning towards a 100% carbon free power infrastructure," commented Stefan Schauss, President and CEO of Enerox.
Storage markets are estimated to reach 40 GW by 2030 according to Bloomberg New Energy Finance's research. CellCube energy storage systems address the need for energy centric storage of clean, renewable electrical energy as well as reducing the CO2 footprint of conventional power generation. Energy centric storage applications, such as the shifting of intermittent renewable energy peaks into periods of high demand, will lead the transition of modern energy supply chains around the world. Read this and more news for Stina Resources at: http://www.marketnewsupdates.com/news/sqa.html
In other mining industry news and developments:
Vanadiumcorp Resource Inc. (TSX-V: VRB.V) (OTC: APAFF) recently joined the Tormont50 upon invitation by the Tormont Group. The Tormont50 is a company investment platform limited to 50 companies targeting formation of an exchange-traded fund (ETF). Companies invited to the Tormont50 must demonstrate compelling reasons for investment, including, but not limited to, undervaluation relative to peers, new and innovative/disruptive technologies or methods, management/board evolution, coming events likely to drive value appreciation, and other features that could enable a multiple increase in market cap over the next six to 18 months. The Tormont50 is introduced to companies and institutional investors providing relevant and credible information for select top-growth opportunities identified by Tormont Group in the North American small-cap and microcap segment and partner to focused outreach, new introductions, investment, coverage, and other requirements needed to gain market credibility and leadership.
Largo Resource Ltd. (TSX: LGO.TO) (OTCQB: LGORF) recently announced its plan to expand production capacity at the Maracas Menchen Mine from the nameplate rate of approximately 800 tonnes per month of vanadium pentoxide ("V2O5") to 1,000 tonnes per month, being an increase of 25% over nameplate capacity. The enhanced production rate at the Maracas Menchen Mine is expected to result in an additional 200 tonnes of V2O5 being produced per month from and after June 2019 . Capital expenditures for the plan are anticipated to total approximately US$15.5 million using current exchange rates. Construction is expected to begin at the beginning of June 2018 with an expected timetable for completion of approximately 12 months, including the required permitting and commissioning. The expansion plan focuses on increasing the production capacity of the milling, fusion (deammoniator, furnace and flaking wheel), leaching and filtering areas. Management believes that total production capacity could be further increased by an additional 100 tonnes per month to an aggregate total of 1,100 tonnes of V2O5 per month if certain other upgrades and improvements are made to the kiln refractory. The Company has commissioned studies to evaluate this opportunity.
McEwen Mining Inc. (NYSE: MUX) recently announced encouraging exploration results from its Black Fox Complex near Timmins, Ontario, Canada. From the release: Our 2018 exploration budget at Black Fox is $15 million and we have spent approximately 30% year to date. Our primary goals are to extend mineralization around known deposits and to test targets close to our mine and mill. During Q1 a total of 42,400 meters (m) of exploration drilling was completed, consisting of 11,200 m from underground and 31,200 m from surface. All four of the areas explored: Grey-Fox Gibson, Stock, Black Fox Underground and Tamarack, returned encouraging drill assay results.
Cameco Corporation (NYSE: CCJ) recently reported its consolidated financial and operating results for the first quarter ended March 31, 2018 in accordance with International Financial Reporting Standards (IFRS). "We continue to focus on what we can control," said president and CEO, Tim Gitzel. "In the first quarter we generated significant cash flow, which is due to our portfolio optimization activities, the benefits of our cost saving measures, and by pulling back on our production lever and drawing down inventory. While our average unit cost of sales was higher than a year ago, this was expected due to the care and maintenance costs incurred while production is suspended at the McArthur River and Key Lake operation. "Today the market remains quiet. There are a lot of moving pieces, and utilities continue to evaluate the implications of what is perhaps best described as unprecedented noise in the political economy. Things like the possible trade action under section 232 of the Trade Expansion Act, the suspension of US Department of Energy's excess uranium sales for the remainder of 2018, review of the Russian Suspension Agreement, and a potential Russian ban on all trade with US nuclear power companies.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated forty nine hundred dollars for news coverage of the current press release issued by Stina Resources Ltd. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.
Contact Information:
Media Contact
email: info@marketnewsupdates.com
+1(561)325-8757
SOURCE MarketNewsUpdates.com
