logo-loader
Australian Vanadium Ltd

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.

Quick facts: Australian Vanadium Ltd

Price: $0.01

Market: ASX
Market Cap: $26.7 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Australian Vanadium Ltd named herein, including the promotion by the Company of Australian Vanadium Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Australian Vanadium project awarded Major Project Status by...

Australian Vanadium Ltd (ASX:AVL) managing director Vincent Algar updates Proactive on the Federal Government’s recent announcement awarding The Australian Vanadium Project Major Project Status and what that means for the company. Algar also updated the market on the company’s bench-scale...

1 week, 6 days ago

2 min read