Australian Vanadium Ltd Suspends Trading With Pending Capital Raise News


The company’s shares will remain in suspension from trading until Tuesday, August 24, or when an announcement is released to the market.

() has been granted a halt from trading by ASX as it prepares to make a capital increase announcement.

The stop will remain in place until the start of regular trading on Tuesday, August 24, or until an announcement is posted to the marketplace, whichever comes first.

United States Vanadium Memorandum of Understanding

Last week, the company signed a memorandum of understanding with US specialty chemicals producer Vanadium LLC for the supply of high purity vanadium oxides and a license for the production of vanadium electrolyte.

This agreement will allow AVL to begin local production of vanadium electrolyte to support growing interest in the emerging Australian VRFB market.

The memorandum of understanding complements the one already signed with US Vanadium concerning the future collection of vanadium from the Australian Vanadium project, for use in the US critical metals market.

The two MOUs will lead to a mutually binding vanadium supply and technology license agreement between the two companies.

AVL also recently received a $ 3.69 million grant under the Australian Government’s Modern Manufacturing Initiative (MMI) to develop a high purity vanadium production circuit, build and operate an electrolyte plant. vanadium with a capacity of 33 MWh and produce prototypes of locally assembled VRFB systems for domestic and remote stand-alone systems. power systems.


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