Hardey Resources Ltd (ASX:HDY) has received approval from shareholders at the extraordinary general meeting held last Friday to acquire two vanadium private companies.
The company will acquire 100% of both Nelly Vanadium Pty Ltd (NVPL) and Vanadium Mining Pty Ltd (VanMin).
NVPL is the owner of the highly prospective Nelly Vanadium Mine in the San Luis province of Argentina.
VanMin owns six high-quality vanadium projects across Queensland and Northern Territory.
READ: Hardey Resources parking in the right vanadium neighbourhood of Northern Territory
The geology team in Argentina is progressing the application to reactivate the mining licence for Nelly and studying the process to monetise the legacy stockpiles to generate near-term cash flow.
In Australia, the focus for the Queensland and Northern Territory projects is to utilise historical data, if possible, to model JORC compliant inferred vanadium pentoxide resources.