The continuous upward movement in vanadium pentoxide flake prices is totally decided by the supply-demand status. Affected by new industrial policies, vanadium slag is banned from being imported, and environmental protection policies prevent small-sized vanadium plants and plants extracting vanadium from stone coal from increasing their outputs. As a result, the vanadium pentoxide flake market falls into severe supply shortage, and therefore it becomes inevitable for prices to soar.

The market price is relative. As long as there is demand in the downstream, the price rise is reasonable. There is no concept of top. I estimate that the price of V2O5 98%min will remain above 400,000 yuan/ton for a long time. (US$26lb)

About Prophecy (TSX: PCY, OTC: PRPCF)

Prophecy is developing the Gibellini project – the only large-scale, open-pit, heap-leach vanadium project of its kind in North America. Located in Nevada, Gibellini has the largest NI 43-101 compliant measured and indicated primary vanadium resource known in the USA and is currently undergoing EPCM and EIS preparation. Further information on Prophecy can be found at