Korean market cap bounce is a windfall for Aussie vanadium play Protean
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Protean Energy is watching as a sizeable market cap bounce boosts its coffers — but not in Australia.
Its Korean joint venture partner DST Company was reinstated to trading on the Korean Stock Exchange on Friday.
Protean (ASX:POW) — a vertically integrated vanadium resource and battery developer — owns a stake in DST that is now worth about $2.4 million.
Combined with the company’s $3.1 million in cash, Protean has plenty of money to advance the Daejon Vanadium Project as well as its V-KOR vanadium battery technology.
The movement wasn’t recognised on the Australian market however — meaning Protean is significantly undervalued compared to other vanadium explorers and producers.
DST and Protean operate Stonehenge Korea, which hold 100 per cent of the rights to the Daejon Vanadium Project.
They each own 50 per cent of KORID Energy, the owner of the patents, IP and rights to the V- KOR vanadium redox flow battery technology.
This special report is brought to you by Protean Energy.
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