Sign up Australia
Proactive Investors - Run By Investors For Investors

Australian Vanadium is the new name for Yellow Rock Resources

Australian Vanadium is the new name for Yellow Rock Resources

Australian Vanadium (ASX:AVL) is the new name and code for Yellow Rock Resources (ASX:YRR), after being approved by shareholders.

Vincent Algar, remains chief executive, and said the new name marked the next step in the company’s growth strategy.

“The company has been progressing the Gabanintha Vanadium Project since acquisition in 2009.

“The project’s strong potential was highlighted by the recent resource update which demonstrated that Gabanintha is one of the highest-grade vanadium projects being progressed world-wide.

“This year we have also taken steps to enter the energy storage market, which is experiencing increasing demand for vanadium.”

Gabanintha is located near Meekatharra in Western Australia, where the company has defined a high-grade zone of 11.3 million tonnes at 1.1% V2O5 within a measured and indicated resource of 24.7 million tonnes at 0.8% V2O5.

The total measured, indicated and inferred resource in both low and high-grade domains is 91.4 million tonnes at 0.8% V2O5 and contains 750,000 tonnes of V2O5.

This includes a high-grade zone of 56.8 million tonnes at 1% V2O5 for 563,000 tonnes of V2O5.

The high-grade nature of this resource, which contains 200,000 tonnes of V2O5, and includes a substantial high grade zone over 1% in grade, highlights the potential for Gabanintha to be a world-class vanadium project.

Economic studies are expected to begin early next year with a view to initiating a full Definitive Feasibility Study by mid-2016.


Upcoming catalyst

An updated scoping study is expected for Gabanintha early next year.

The company is also working on a strategy to build capability to provide the vanadium-based electrolyte which “fuels” the batteries. This gives the company a significant opportunity.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.



Register here to be notified of future AVL Company articles
View full AVL profile View Profile

Australian Vanadium Timeline

Related Articles

potash-delivery.jpg
February 20 2017
As well as RHA and Zulu, the firm has assets in Mozambique and a stake in private firm Circum Minerals
coffee-1154353_1920.jpg
February 28 2017
Last week, Royal Road brought in C$3.6mln to finance its Colombia plans and anticipated operations in Nicaragua
picture of electric car
Mon
Finncap estimates the shares are worth 11p on a risked basis or more than double the current share price.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use