NEW YORK American
Vanadium Corp. has announced a nonbrokered private placement of
up to 2 million shares in order to raise Canadian $1.6 million
($1.56 million) to help finance mine design, environmental
permitting and general working capital.
The Vancouver, British Columbia-based company plans to start
up its Gibellini vanadium mine in Nevada in 2015. The project
is expected to produce up to 11.4 million pounds of vanadium
pentoxide annually at what would be the only operating vanadium
mine in the United States.