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Australian Vanadium Ltd

Australian Vanadium director demonstrates support by acquiring 2.5 million shares on-market

Non-executive director Daniel Harris has purchased shares valued at $35,000.

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Shares are trading up almost 8% to an intra-day high of 1.4 cents

Australian Vanadium Ltd (ASX:AVL) non-executive director Daniel Harris has demonstrated confidence in the company with the purchase of shares in an on-market transaction.

Harris acquired 2.5 million shares on July 9 with a total value of $35,000.

READ: Australian Vanadium chairman shows faith in company by acquiring 3 million shares on-market

This follows the recent on-market purchase by non-executive chairman Brenton Lewis of 3 million shares valued at $41,000, increasing his holding to almost 15.03 million shares.

On June 25 Australian Vanadium signed a memorandum of understanding (MoU) to cooperate with Westgold Resources Limited (ASX:WGX) on supply of life of mine water for the Australian Vanadium Project south of Meekatharra in WA.

READ: Australian Vanadium signs key water access agreement with Westgold

Westgold’s nearby Meekatharra gold operations comprise several active and inactive mines and continuous inflows into several active and inactive pits resulting in water surplus.

In May the company updated its resources estimate for the Nowthanna Hill uranium deposit, also near Meekatharra to JORC code 2012 standards.

Nowthanna contains uranium and vanadium on tenements to the south and southeast of the flagship Australian Vanadium Project.

 

Quick facts: Australian Vanadium Ltd

Price: $0.01

Market: ASX
Market Cap: $26.7 m
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