PERTH (miningweekly.com) – Lithium developer Vulcan Energy Resources will apply for a dual listing on the Frankfurt Stock Exchange (FSE).
The ASX-listed company told shareholders that it would become the first Australian company to have a listing on the regulated market of the FSE the listing is complete.
“Given the German base and role in the EU energy transition of our Zero Carbon lithium project, Vulcan is aiming to increase its European investor base and international exposure, whilst meeting and exceeding the highest standards of governance, reporting and transparency,” said MD Dr Francis Wedin.
“This planned dual listing on the regulated exchange of the FSE, a first for any Australian company, will assist with this process. We look forward to working with Berenberg and our other advisors on this process, in what we hope will be an exciting next step for all shareholders as the company evolves.”
A scoping study into the Zero Carbon lithium project demonstrated the potential for a combined operation producing lithium hydroxide and renewable energy, with a net zero carbon footprint.
The scoping study considered the staged development of a brine extraction, power generation, lithium direct extraction plant and brine reinjection that would be co-located.
Stage 1 of the production plant would consist of a direct extraction and lithium plant at an operating, producing geothermal well and power plant, while Stage 2 of the operation would consist of the drilling of ten new geothermal production wells, the construction of a new, combined geothermal, direct lithium extraction and lithium hydroxide plant at Vulcan’s Ortenau license.