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Australian Vanadium's shares power higher after signing key agreements

Australian Vanadium's shares power higher after signing key agreements

Australian Vanadium's (ASX:AVL) shares are on a tear this week, closing at $0.017 yesterday, which is 55% higher than where the company started the week.

Driving investor interest has been the signing of key agreements.

Australian Vanadium has signed a memorandum of understanding with Sun Connect Pty Ltd for the marketing and sale of Vanadium Redox Flow Batteries in Australia.

This follows an agreement signed with Gildemeister Energy Storage to collaborate on future Vanadium Redox Flow Battery (VRFB) installations and electrolyte production in Australia.

Sun Connect will collaborate with Australian Vanadium on the specification of the renewable component of power requirements for the Gabanintha vanadium project as part of the ongoing feasibility studies.

Gabanintha is currently one of the highest-grade projects being advanced globally with measured, indicated and inferred resources of 91.4 million tonnes grading 0.82% vanadium oxide.

It also contains a discrete high-grade zone of 56.8 million tonnes grading 1.0% vanadium oxide.

Price catalysts and milestones ahead

- Updated Concept Study upgrade anticipated in Q1 2016.
- Detailed PFS and complete plant design planned for 2016, along with EIA progress.
- Negotiations with Asian vanadium and steel producers for project involvement.
- Vanadium electrolyte plant design and specifications being developed for 2016 construction – to support local vanadium battery sales.

The news flow ahead represents a pipeline of price accretive milestones for Australian Vanadium.


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