trending Market Intelligence /marketintelligence/en/news-insights/trending/iCX8T1KH2f0RZER92VoPjw2 content esgSubNav
In This List

Spey Resources enters option to acquire vanadium project in Utah

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023

Video

Battery metals - unbated long term need for supply security despite short-term headwinds


Spey Resources enters option to acquire vanadium project in Utah

Spey Resources Corp. entered into an option agreement with GeoXplor Corp. to fully acquire the Uravan vanadium-uranium project in Utah.

The company will pay GeoXplor US$310,000 cash in four annual installments and issue 3.5 million shares in five installments within four years.

Upon commercial production, Spey will have to make an additional payment of US$1 million either in cash or shares. Geoxplor will become entitled to a 2% net smelter return royalty once the acquisition is complete.

Spey has the right to purchase three-quarters of the royalty by paying US$1.5 million.

The company said Jan. 15 that it targeted the property for acquisition due to the increasing global demand for vanadium.