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Sparty 02-13-2013 01:05 PM

Julia Creek Vanadium - world's largest Vanadium resource gets a chance
The news that the Qld. Govt. has plans to "approve the development of a commercial shale oil industry" has seen a flurry of excitement in Intermin Resources (ASX:IRC).

What isn't widely appreciated that by mining Julia Creek's shale oil resource one of the world's largest and richest vanadium deposits will become commercially viable and that ASX: IRC controls the associated Vanadium and Molybdenum resources under an agreement reached with Xtract Energy (LSE: XTR)

"Intermin has large tenement holdings in the Julia Creek and Richmond areas of Queensland which host large oil shale resources. In 2005, Intermin assigned its rights to the oil and hydrocarbons in these deposits to Xtract Energy plc but retained the rights to Vanadium/Molybdenum and other metals from the oil shale and residues from oil shale mining.

Recently, Xtract Energy plc entered into an agreement with Global Oil Shale (GOS) for the assignment of its interests in the Julia Creek sector of the deposits thereby providing GOS with the opportunity to develop the deposits if viable and meeting environmental criteria.

Intermin has been in discussions with GOS for some time regarding a joint approach for processing of oil shale for recovery of contained oil and the metal values."

This was why IRC went up 36% today albeit on fairly low volume. But what a future could lie ahead. And once again we have to recognize the smarts of elephant hunter Dr Michael Ruane.

Australian companies with JORC Vanadium Resources (V2O5 t)

More about Australian vanadium

Sparty 06-27-2014 03:49 AM

Queensland Energy Resources, oil-shale company, has just applied for permission to upgrade its demonstration plant to a commercial scale. Production is expected to start in 2018. More

About Intermin Resources

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