Australian Vanadium Limited (ASX: AVL) has shared a significant update in collaboration with the Commonwealth and has finalized a grant agreement as part of the Modern Manufacturing Initiative - Manufacturing Collaboration Stream. The executed agreement entails a substantial grant of AU$49 million dedicated to supporting the Australian Vanadium Project. This project stands out as a leading critical mineral vanadium venture worldwide, boasting advanced development and the capacity to produce 11.2kt per year of vanadium pentoxide across a mine life exceeding 25 years.
The grant agreement solidifies the commitment towards advancing this significant project and unlocking the potential of vanadium resources. The Grant will be disbursed in instalments throughout the duration of the Agreement, contingent upon the Company meeting its obligations and achieving specific milestones. In June 2023, the Company is set to receive an initial payment of AU$9.8 million, followed by three subsequent payments with the final payment is scheduled for August 2025.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
