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Australian Vanadium managing director pays to exercise options

A recent PFS valued an initial 17-year open pit mining operation at up to US$1.41 billion.
3D model of plant layout and mine site with open pit
The positive PFS result supports immediate progression to a DFS

Australian Vanadium Ltd (ASX:AVL) managing director Vincent Algar has exercised $13,846 worth of options adding 692,307 shares to his holding.

The share acquisition increases his overall position to 11.26 million shares and further aligns him with shareholders.

READ: Australian Vanadium’s pre-feasibility study confirms robust economics for Gabanintha vanadium deposit

During mid-late December 2018, AVL released its maiden ore reserve and final pre-feasibility study (PFS) on its Gabanintha Vanadium Project in Western Australia.

The PFS estimated an ungeared post-tax net present value (NPV) ranging between US$125 million and US$1.41 billion, depending on the vanadium pricing assumption used.

Positive outcomes and strong vanadium market fundamentals support immediate progression to a definitive feasibility study (DFS).

Further drilling for pilot study is scheduled to commence January 2019.

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