Australian Vanadium finds commercial option for Coates
PERTH (miningweekly.com) – The share price of ASX-listed Australian Vanadium increased by nearly 17% on Monday after the company signed a joint venture agreement to develop the Coates vanadium project, in Western Australia.
Under the terms of the agreement, privately held Ultra Power Systems (UPS) would be given exclusive rights to earn a 49% interest in the project by spending A$50 000 on exploration within the first 12 months of the agreement, and A$150 000 during the first 24 months of the agreement.
Once this expenditure threshold has been reached, UPS can acquire Australian Vanadium’s interest in the project for a further A$500 000 in shares.
UPS is hoping to produce vanadium electrolyte using a combination of a unique processing route and a high-density vanadium electrolyte production. The company holds the exclusive Australian option to license the VanadiumCorp Electrochem Processing Technology (VEPT), which enables the recovery of valuable by-products during the vanadium processing route with minimal carbon production and minimal waste.
UPS will test the material from the Coates project, and if proven successful, will test the low-grade mineralisation from the Australian Vanadium project using the VEPT process.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation