Australian Vanadium Ltd
Australian Vanadium Ltd (ASX:AVL), formally known as Yellow Rock Resources, is focussed on vanadium at its flagship Gabanintha project in Western Australia.
See more information about Australian Vanadium Ltd
Yellow Rock Resources steps on vanadium pedal
Yellow Rock Resources (ASX:YRR) is gearing up to leverage market interest in vanadium, having raised $3.36 million to fund work on its flagship Gabanintha high grade project in Western Australia and appointing experienced resources executive Lorry Hughes as its chief executive officer.
Yellow Rock had recently placed the third and final tranche of its rights issue shortfall (243,616,864 shares priced at $0.01 each) bringing the total raised up to $3,362,027.
It had in March offered up to 349,026,205 shares with one free attaching option exercisable at $0.015 each on or before 31 December 2017 for every share subscribed.
This brings its total cash up to about $3 million.
Demand for vanadium is projected to increase given the growing market for its use in rechargeable batteries.
Funds from the company's recent rights issue and shortfall placement will be used to determine the most commercially viable V2O5 (vanadium oxide) production - including evaluation of high purity V2O5 options, ferrovanadium and by-products - from its Gabanintha Vanadium Project.
Analysis
With the completion of the rights issue shortfall, Yellow Rock Resources is now positioned to advance its Gabanintha Vanadium Project - one of the highest grade vanadium resources in the world. There is also a name change in the offing to Australian Vanadium Resources.
Other Australian Vanadium Ltd news
- Australian Vanadium寻求在Coates Nickel-Copper-PGE项目合作中扩大场地占比
2020-09-23 - 与中国住宅用钒氧化还原流电池生产商签署合作协议后，Australian Vanadium股价上涨
2020-09-17 - Australian Vanadium与VRFB储能系统市场领头羊签订钒交易谅解备忘录，股价应声上涨
2020-09-09 - 采矿租约里程碑使旗舰项目离正式开发又进了一步，Australian Vanadium股价应声上涨
2020-08-31 - Australian Vanadium在旗舰项目中确定铁钛副产品的收入潜力
2020-08-21
