Australian Vanadium chairman shows faith in company by acquiring 3 million shares on-market
The company is considering the application of Marenica Energy’s (ASX:MEY) uranium upgrade process to mineralisation at the Nowthanna project.
Company
ASX:AVL
Australian Vanadium Ltd (ASX:AVL, OTCQB:ATVVF) is a resource company focused on vanadium, seeking to offer investors a unique exposure to all aspects of the vanadium value chain – from resource through to steel and energy storage opportunities. The company is advancing the development of its world-class Australian Vanadium Project at Gabaninthaoject near Meekatharra, which is among the highest-grade vanadium projects in the world. VSUN Energy is AVL’s 100% owned renewable energy and energy storage subsidiary which is focused on developing the Australian market for vanadium flow batteries for long duration energy storage.
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The company is considering the application of Marenica Energy’s (ASX:MEY) uranium upgrade process to mineralisation at the Nowthanna project.
The company’s intention is to enter into a binding access agreement with Westgold within six months.
The Nowthanna Hill resource has been updated to comply with JORC Code 2012 guidelines.
The pilot test work program is advancing as planned and the crushing milling and beneficiation (CMB) circuit on typical mine life material blends is due for completion in early July.
The deal provides a development catalyst for the Coates project which is a secondary asset for AVL.
A revised resource model is on the agenda for the US$616 million The Australian Vanadium Project.
The company is advancing its Australian Vanadium Project, which is one of the highest-grade vanadium projects being advanced globally with 183.6 million tonnes at 0.76% vanadium pentoxide.
The company is on schedule to complete the pilot study and the definitive feasibility study in 2019.
The company's flagship project has a US$616 million value at a US$13 per pound vanadium price.
Resource upgrade to follow the end of drilling, expected April 2019, and pilot metallurgical test program to commence the same month.
The program will provide oxide, transitional and fresh core for pilot plant metallurgical test work.
The company is well-funded to completes its definitive feasibility study (DFS).
A recent PFS valued an initial 17-year open pit mining operation at up to US$1.41 billion.
Bryah holds the rights to all minerals except vanadium, uranium, cobalt, chromium, titanium, lithium, tantalum, manganese and iron ore.
The company has also reported a maiden ore reserve, adding to the project’s low-risk mineral resource and strong economic potential.
A trading halt has been granted by the ASX with a maiden ore reserve also pending.
The company is targeting low-cost vanadium pentoxide production with the study expected this month.
The company aims to develop the world's next high-grade vanadium mine.
Researchers will be creating capacity and capability to leverage the global battery metals boom as focus is shifted to new energy systems.
The two-day Technology and Low Emission Minerals Conference featured many of Australia’s emerging resource companies focused on sustainable operations and new energy minerals.