3 Top Vanadium Stocks on the TSX and TSXV

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It has been an exciting year so far for vanadium, as the industrial metal used as an alloy in steel manufacturing has seen an uptick in demand thanks to its increased use in the energy storage sector.

Vanadium flake, which is used to make vanadium redox flow batteries, started the year selling at roughly US$15 per pound, and has steadily climbed over 10-months to US$33.90 where it sits today (November 1).

Ferro vanadium, the type used to make steel stronger and more durable, has also experienced steady growth throughout 2018, thanks in part to new rebar guidelines in China, which call for increased vanadium levels. Sitting at just above US$60.00 a kilogram in January, ferro vanadium has grown by 139.17 percent to US$143.5.

The meteoric rise of the silvery-grey metal has piqued the interest of analysts and investors who see the value in a battery metal that is safer, longer-lasting and more durable than lithium.

Once considered a mere byproduct of uranium mining, in recent months the market has seen a renewed focus and respect for the industrial metal with a lot of battery potential. So much so that vanadium projects that were shuttered due to low market prices are slowly coming back online.

The race to vanadium production in North America will be particularly interesting to watch.

Here, the Investing News Network has compiled a list of the top performing vanadium stocks listed on the TSX and the TSXV with year-to-date gains. All companies listed had market caps of at least $10 million at the time of publication. All year-to-date and share price information was obtained on November 1 from TradingView.

1. First Vanadium (TSXV:FVAN)

Current price C$1.52; year-to-date gain 424.14 percent

First Vanadium changed its name from Cornerstone Metals in late September, in an effort to highlight its focus on vanadium exploration and development. The company currently has two ongoing vanadium projects; its wholly-owned West Jerome property in Arizona, and the Carlin vanadium project in Nevada.

In June, First Vanadium released the results from metallurgical test work conducted on at the Carlin vanadium project. The company reported that the third round of testing achieved vanadium extraction levels of 95.5 percent.

“Our testing has very quickly moved the needle from the low 80s, which were strong, to outstanding numbers, far exceeding even our metallurgists’ expectations,” CEO, Paul Cowley, said in the press release. “These numbers show a clear sign of a major technical breakthrough for our project.”

2. Largo Resources (TSX:LGO)

Current price C$3.99; year-to-date gain 195.56 percent

Focused on exploration and production of vanadium projects in Brazil, Largo currently operates the Maracas Menchen mine in Bahia state. The site outputs high-purity vanadium flake, as well as powder. During Q3 2018, Largo increased vanadium production by 4 percent.

In September, the Brazilian mine posted a record production rate of 82.2 percent for V2O5 flake.

“With 7,235 tonnes of V2O5 produced so far this year, the company is well positioned to achieve the upper end of its increased and revised 2018 guidance range of 9,150 to 10,150 tonnes of V2O5 produced for the full year,” Mark Smith, CEO of Largo, said in the announcement.

3. Vanadium One Energy (TSXV:VONE)

Current price C$0.185; year-to-date gain 131.25 percent

Vanadium One Energy is a Toronto-based exploration and development company focused on North American vanadium and manganese projects. Currently the company owns the Mount Sorcier vanadium, iron and titanium project in Roy Township, located in central Quebec.

The diversified metals explorer also owns a manganese project in British Columbia, as well as a gold property in Ontario. Vanadium One recently announced it was increasing the phase two drill program currently underway in Quebec. So far, 743 core samples have been extracted from the site, as well as an additional 50, which were all sent for assaying.

“We are very excited by this project and its potential,” Martin Walter, CEO of Vanadium One, noted in the press release. “The project is well located and has low titanium, which we think give us a big advantage.”

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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Vanadium One Energy is a client of the Investing News Network. This article is not paid-for content.