SAN FRANCISCO, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Precious metals expert Michael Ballanger explains why he believes the stars are aligning for vanadium and uranium.
Company mentioned: Western Uranium Corp. (WUC:CSE; WSTRF:OTCQX)
Western Uranium implemented a special resolution to add "& Vanadium" to its corporate moniker. On September 27, the company put out a news release updating the market on a number of developments, the most interesting and appropriate being the name change that will take effect in early October.
Vanadium is used in the hardening of steel (90%) with the residual 10% being deployed in vanadium flow batteries, integral to the electric car movement. However, the main price driver for vanadium lies in new Chinese building code requirements pertaining to the need for high-strength steel in the construction industry. Vanadium closed the session at $22.30/lb up 21.8% since I first wrote about the company on August 30.
Uranium is ahead 5.3% in the same timeframe, which has contributed to a stellar move and technical breakout in WUC. The decision to highlight vanadium in the new company name lies in its 35 million pound resource.
Continue reading this article: Western Uranium and Vanadium: A VERY Timely Name Change
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DISCLOSURE:
The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Western Uranium. Please click here for more information. As of the date of this article, officers and/or employees of Streetwise Reports LLC own securities of Western Uranium Corp.
Michael J. Ballanger: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Western Uranium Corp. My company has a financial relationship with the following companies referred to in this article: Bonaventure Explorations Limited is owned by me and my wife and has earned consulting fees from Western Uranium in the past.
The full disclosure is provided at the end of the published article: Western Uranium and Vanadium: A VERY Timely Name Change