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提出钒加工电路专利申请
2021-04-14 - Australian Vanadium寻求联邦政府资助国内增值战略
2021-04-08 - Australian Vanadium从Gabanintha项目中获得Bryah Resources富矿金品位的杠杆作用
2021-03-31 - Australian Vanadium任命全球ESG顾问公司Advisian绘制可持续发展道路图
2021-03-22 - Australian Vanadium的最终火法冶金结果证实了世界领先的钒提取
2021-03-10
