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EcoProfit Share Watch – 17 February 2021

Vanadium Resources (ASX:VR8)

South African vanadium hopeful Vanadium Resources hopes to become one of the world’s lowest capex and opex producers.

A pre-feasibility study on its high grade Steelpoortdrift vanadium project in now underway, after a less-detailed scoping study threw up some very good numbers. They include pre-tax earnings of up to $US1.9 billion, low cash operating costs of $3.07/lb V2O5, and just $187m in construction costs. The company also says stable trading in the vanadium market continues “with demand increasing. Long term demand for vanadium and vanadium products remains strong.”

Resource Mining Corp (ASX:RMI)

The tiny PNG explorer has expanded its nickel portfolio by acquiring a project in the African country of Tanzania. This is a high risk, high reward play.

The Tanzanian KNP project is prospective for nickel, cobalt and manganese, the company says. The area has not been subject to modern exploration. An initial work program involves locating and sampling historical pits dug during colonial regime and systematic soil sampling.

RMI is up ~420 per cent over the past nine months.

European Metals (ASX:EMH)

Last week lithium play EMH raised ~$7m via private placement.

The cash means EMH is fully funded to a final investment decision at its Cinovec project in the Czech Republic — the largest hard rock lithium deposit in Europe.

This ~$150m market cap stock has been a beneficiary of the battery metals resurgence, up 125 per cent over the past three months.

Financial Indicators

The VIX fear gauge down since 9 February by 0.13 of a point to 21.46.

The Dow Jones Industrial Average is up 136.99 points or 0.44% since 9 February to 31,522.75, the STOXX 600 up 9.49 points or 2.32% to 419.20 and the Shanghai Composite index up 51.60 points or 1.43% to 3,655.09.

Gold down to 1,789.70. US 10-year Treasury Bonds rising up to 1.298 and oil up again to 60.11. Cryptos Bitcoin going through the roof again and up another 2,964 points or 6.33% to 49,765.

ASX 200 up since 9 February and sitting on 6,885.20 today. The Aussie dollar on 77.52US cents.

Eco Market Spot Prices

LGC $35.25

STC $38.40

ESC $31.00

VEEC $46.00

ACCU $18.50

Sources: RenewEconomy, demandmanager,  Reuters, SMH, Market Watch, Stockhead

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