Date: Nov 21, 2018

The spot price of vanadium is approaching its highest level since 2005 and has climbed more than 550% since September 2016, according to the miner.

Mining company 92 Resources Corp (CVE:NTY, OTCMKTS:RGDCF) said Tuesday that it has acquired the Silver Sands vanadium project in eastern British Columbia.

The spot price of vanadium is approaching its highest level since 2005 and has climbed more than 550% since September 2016, the Vancouver-based 92 Resources said in a press release.

The company added that prices are expected to extend their gains as vanadium-redox flow batteries experience a boost in demand.

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