Viking Mines Limited (ASX: VKA) is a Vanadium focused explorer and developer with the primary objective of advancing its flagship Canegrass Battery Minerals Project to development. Vanadium demand is forecasted to surge over the coming years driven primarily by the adoption of Vanadium Redox Flow Batteries (VRFB) as the preferred solution to long-energy storage. Viking Mines is well positioned to fulfill this increasing demand and diversify global supply chains. Viking Mines is significantly undervalued when considering the substantial vanadium Mineral Resource Estimate (MRE) already defined at the Canegrass Project totalling 79Mt at 0.64% V2O5 (Vanadium Pentoxide). Additionally, there is significant growth potential for this resource, which has been verified via the results of an extensive drill program and with an updated MRE due in the December quarter. The Company has a strong balance sheet with approx. $6m cash, allowing the Company to rapidly advance the project. The Company also has the First Hit Lithium and Gold Project, which provides investors to with additional exposure to value adding commodities.
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