This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Vanadium Miners Close 2012 With Financing Deals

In July 2011, Prosperity invested a further US$32 million in the company to up its offtake rights to 4 million MT over four years.

American Vanadium, MacDonald Mines receive financing

American Vanadium (TSXV:AVC,OTCQX:AVCVF) is one of a number of vanadium companies that took advantage of the resurgent vanadium price to raise funds.

The company announced on December 21 the closing of a non-brokered private placement of 2,554,999 units at a price of $0.65 per unit for total gross proceeds of approximately $1,660,749.

The financing closed just days before the company announced the submission of a plan of operations for its Gibellini project in Nevada. The plan, which covers mine design, processing facilities and reclamation, was submitted to the US Bureau of Land Management and initiates the National Environmental Policy Act review process.

On December 28, Colombian uranium-vanadium-REE developer U3O8 (TSX:UWE,OTCQX:UWEFF) announced the closing of a first tranche of financing, raising gross proceeds of $846,194 through the issue of 3,846,337 units at $0.22 per unit.

Follow-on tranches of the financing are expected to raise a total of approximately $3 million. Proceeds will be used to build on a recent preliminary economic assessment for the company's Berlin uranium, phosphate, vanadium and rare earths (yttrium and neodymium) project.

MacDonald Mines Exploration (TSXV:BMK,OTCQX:MCDMF) also got in on the financing action, announcing on December 29 the closing of a non-brokered private placement that raised gross proceeds of $750,000 through the sale of flow-through units at $0.075 per unit.

MacDonald is pursuing a number of commodities, including vanadium, in the Ring of Fire area of the James Bay Lowlands of Northern Ontario.

Australia and China also active

Australian markets also saw investors kicking in money for vanadium projects, with Fortunis Resources (ASX:FOT) raising AU$2.8 million in a December 19 initial public offering.

Fortunis holds a farm-in agreement to earn up to a 51-percent interest in 63 square kilometers at the southern end of the Barrambie Greenstone Belt, which is prospective for gold, copper and vanadium-titanium-iron.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,434.26 +9.41 0.06%
S&P 500 1,866.29 +3.98 0.21%
NASDAQ 4,102.00 +15.7750 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs