The Inside Scoop on United Battery Metals Corp (OTCMKTS: UBMCF)
Date: Nov 23, 2018
United Battery Metals Corp (OTCMKTS: UBMCF) hit the OTC in August since the name change from United Lithium Corp. The stock started off strong at around $0.70 and hit highs of $1.58 before coming crashing down.
The stock is currently moving up off $0.2309 lows. The Company ran into some trouble in recent weeks after they were made aware by the CSE of false and misleading promotional materials being distributed by Inult Alles Auf Anfang in Germany.
United Battery Metals Corp (OTCMKTS: UBMCF) (CSE: UBM) (FWB: 0UL) Iis a vanadium exploration company focused on the exploration of its Wray Mesa project, an exploration stage vanadium property located in Utah and Colorado, USA, and the acquisition of additional properties with vanadium-discovery potential. The company strives to be the first vanadium producer in North America. Vanadium has multiple uses in today’s modern world from being used in vanadium redox flow batteries, car charging stations, nuclear power plants and in steel manufacturing. Vanadium is one of the 35 minerals deemed critical to US national security and economy.
United Battery Metals Corp flagship project is the Wray Mesa property located in Montrose County, Colorado, USA. Resource estimation software was used to model the mineralization detected in a number of the 715 historical and 24 recent drill holes within the project area. The results of the model run minus the estimated effects of the historic mining indicates that there is an indicated resource of approximately 85,500 short tons at an average grade of 0.16% eU3O8 for a total of 271,000 pounds of contained uranium. Inferred resources total 57,400 short tons at an average grade of 0.15% eU3O8 for a total of about 169,000 pounds of contained uranium. The vanadium resource for the two categories and based on a conservative V:U ratio of 6:1 would be 1,626,000 (0.95% avg. grade) and 1,014,000 (0.88% avg. grade) pounds respectively. The property encompasses over 107 contiguous mining claims over 3000 acres.
Vanadium has many uses according to promotional material from OilPrice; Vanadium batteries already provide complete energy storage systems for $500 per kilowatt hour, a figure that is expected to fall below $300 per kilowatt hour in less than 2 years. BBC Magazine says it will “soon be powering your neighborhood.” Former US President Barack Obama has touted it as the key to generating 80% of the nation’s electricity from renewable sources by the year 2035. These game changing batteries are non-flammable and non-explosive. Unlike short lived lithium ion batteries, their battery life is almost infinitely long.
